US CB Consumer Confidence Index eases to 81.9 in September

US consumer sentiment loses some momentum in September, as the Conference Board’s Consumer Confidence Index recedes to 81.9 from August’s 88.6 (revised from 89.4).

“The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—retreated by 7.9 points to 109.3. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—fell by 5.9 points to 63.6, its third consecutive monthly decline. The survey period for this month’s preliminary results was September 1-23, which included a federal funds rate hike and ongoing geopolitical tensions.”, said Dana M Peterson, Chief Economist at The Conference Board.

Market reaction

The US Dollar (USD) clinches decent gains, regaining upside traction and hitting fresh multi-week highs in the 101.40-101.50 band, always amid steady uncertainty surrounding the Middle East crisis and rising US Treasury yields.