Key US consumer confidence preview – Nomura

By FXStreet Analysts at Nomura offered a preview for the key Consumer Confidence for today.

Key Quotes:

“This measure of consumer confidence remained fairly elevated in January, but the survey was conducted early in that month, prior to the sharp selloff in equity markets.”

“In February, retail gasoline prices have continued to fall and could help boost consumer confidence. However, the preliminary University of Michigan consumer sentiment index for February ticked down slightly, and financial market volatility was high in the first half of February.

Both suggest that we could see less optimistic consumer confidence in February. Taking these factors into account, we estimate that the Conference Board’s consumer confidence index fell by 3.1pts to 95.0 in February (Consensus: 97.3).”
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Source:: FX Street