Dashboard for the Leading Network of Stock Market and Personal Finance Blogs

Visit Seeking Alpha

16-Year-Low Consumer Sentiment Has Dollar Down, But Not Out

Posted on June 24, 2008

Record-breaking downbeat consumer confidence and housing data released today have depressed the US dollar in the currency markets, although the USD remains within recent range against the Euro, Swiss franc, British pound and the Japanese yen. US consumer confidence fell to 50.4 this month, worse than the forecast reading of 56.4, from a revised 58.1 in May (originally reported at 57.2). June s reading was the lowest since 47.3 in February 1992, which means that US consumers haven t been feeling this pessimistic in 16 years. Clearly, the slump in the housing market, coupled with record oil ...

Original article link


foreclosures , housing , housing sector , markets , new home sales , oil , sp