Present Situation Index declined from 134.6 in August to 124.3 in September, while Expectations Index pulled back from 86.3 to 81.7.
The Conference Board commented: “The deterioration across the Index’s main components likely reflected consumers’ concerns about the labor market and reactions to fewer hours, slower payroll increases, fewer job openings – even if the labor market remains quite healthy, with low unemployment, few layoffs and elevated wages.”
U.S. Dollar Index tested session lows as traders reacted to the weaker-than-expected CB Consumer Confidence report. Currently, U.S. Dollar Index is trying to settle below the 100.60 level.
Gold tested new highs at $2640 as traders focused on U.S. dollar’s pullback. From a big picture point of view, gold traders remain bullish amid rising geopolitical tensions.
