November 2017 US consumer confidence 28 November 2017

  • Prior 125.9. Revised to 126.2
  • Current conditions 153.9 vs 151.1 prior. Revised to 152.0
  • Expectations 113.3 vs 109.1 prior. Revised to 109.0
  • 1yr inflation expectations 4.5% vs 4.7% prior
  • Jobs hard to get 16.9 vs 17.5 prior. Revised to 17.1

A very strong read for consumer confidence has given the dollar extra impetus. USDJPY up to 111.45.

The index sits at the highest since Nov 2000. The only minor wobble is the fall in inflation expectations. As well as seeing actual inflation rising, they’ll want to see high expectations of inflation. Low expectations can become a self-fulfilling prophecy. It’s reasoned that if consumers think they’ll get lower prices in the future, they’ll put off purchases now.

Also out;

  • Richmond Fed manufacturing index Nov 2017 30 vs 14 prior
  • Shipments 33 vs 9 prior
  • Services 30 vs 24 prior
  • Composite 30 vs 12 prior

Breaking the mould of softer numbers seen elsewhere this month.

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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