Consumer confidence in the United States hit a new high. The index rose from 127.9 in July to 133.4 marking the highest level since October 2000 beating the median forecasts as well.
The consumer confidence report comes ahead of today’s second revised GDP estimates for the second quarter. Economists forecast that the U.S. GDP advanced 4.0% in the three months ending June, slightly slower from 4.1% reported in the preliminary GDP release.
The Richmond Fed manufacturing index also showed a strong level of activity as the index rose to 24.
The U.S. Senate also voted to confirm Richard Clarida as the vice-chairman of the Federal Reserve.
The British pound was seen extending losses as news broke that the British Prime Minister Theresa May did not have any intentions to resign after Brexit. Furthermore, both EU and the UK announced that they were dropping the October deadline to reach for a Brexit deal.
The European session today will see the release of the preliminary GDP report from France for the second quarter. Economists forecast no change to the GDP growth which was previously reported at 0.2%.
