The EUR/USD exchange rate revealed a mixed reaction on Tuesday’s release showing higher-than-expected consumer confidence in August. The Euro fell against the US Dollar by 0.12% to touch the 1.2011 level, which was overcome again in the evening session.
The Conference Board report revealed that its Consumer Confidence Index increased to the strongest level in five months of 122.9 in August, following a downwardly revised 120.0 reading in the prior month. Data suggested that households’ sentiment was increasingly positive about the US economic growth, further uptick in home prices and healthy labour market, which are likely to sustain an expansion in consumer spending.
