The US consumer confidence index fell to 86.9 in April from 118.8 a month earlier. Although this is the sharpest drop in the indicator in history, the index remained at comfortably high levels. It was steadily lower from the beginning of 2008 to the second half of 2014. Consumer confidence sharply contrasts with the absolute historical extremes in the unemployment claims, retail sales and business activity indices.
A consumer in the United States by a large margin is the leading economic force. The confidence of the Americans is translated in the robust spending, which may support the stock prices and the overall demand for risk.
The FxPro Analyst Team
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