Forexpros – U.S. consumer confidence soared in November, rising to the highest level since July, industry data showed on Tuesday.
In a report, the Conference Board, a market research group said its index of consumer confidence jumped by 15.1 points to 56.0 in November from a reading of 40.9 in October, whose figure was revised up from 39.8.
Analysts had expected the index to rise by 2.1 points to 43.0 in November.
The Present Situation Index increased to 38.3 from 27.1. The Expectations Index rose to 67.8 from 50.0.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “Consumers appear to be entering the holiday season in better spirits, though overall readings remain historically weak.”
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD edging up 0.12% to trade at 1.3336.
Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Industrial Average rose 0.4%, the S&P 500 index advanced 0.5%, while the Nasdaq Composite index added 0.35%.
Forexpros
