US Service Sector Grows in July

U.S. consumer confidence weakened in July, due in part to a less optimistic outlook on the labor market, according to a private sector report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes fell to 90.9 and was lower than a downwardly revised 99.8 in May.

The reading marked its lowest level since September 2014.

Economists had forecast a July reading of 100.0,according to a Reuters poll.

The June figure was originally reported at 101.4.

The report’s hard-to-get jobs index rose to 26.7 last month from June’s upwardly adjusted 26.1.

via Reuters

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza