Over the past 24 hours, the EUR/USD pair has undergone a decline.
On Thursday, the primary currency pair is in a consolidation phase, with the current EUR/USD exchange rate at 1.0949.
The market appears to have settled, with investors seemingly conserving energy ahead of movements expected on Thursday and Friday, coinciding with the release of a significant number of crucial statistics. Following this, market participants are anticipated to enter the Christmas holiday period.
The US Consumer Confidence Index (CCI) for December, as reported by the Conference Board, rose to 110.7 points from the previous 101.0 points, surpassing the forecasted extension to 104.6 points. Notably, both components of the indicator improved, with the Present Situation Index increasing to 148.5 points from 136.5 points, and the Expectations Index climbing to 85.6 points from 77.4 points.
Surpassing the 80 level for the Expectations Index indicates a diminished likelihood of a recession in the next 12 months.
This report provides insights into inflation, shedding light on the readiness of US consumers to increase their spending. Today, the market is awaiting the second assessment of US GDP in Q3 and the weekly jobless claims report.