The report showed that confidence rose among consumers aged 55 and over but declined for younger consumers. The only income group that reported lower confidence in March was the $50,000 – $99,999 income group.
The Conference Board commented: “Consumers remained concerned with elevated price levels, which predominated write-in responses. March’s write-in responses showed an uptick in concerns about food and gas prices […]”
U.S. Dollar Index settled near the 104.15 level as traders reacted to the CB Consumer Confidence report. From a big picture point of view, U.S. dollar continues to move away from multi-week highs as traders take some profits off the table after the recent rally.
Gold is trading near the $2185 level after an unsuccessful attempt to settle above the psychologically important $2200 level. Gold traders stay focused on rising…
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