US Consumer Confidence Rebounds in April

U.S. consumer confidence rebounded in April and new home sales increased more than expected in March, pointing to underlying strength in the economy despite signs that growth slowed in the first quarter.



Other data on Tuesday also showed house prices increasing solidly in February. Strong consumer confidence and rising house prices bode well for an acceleration in consumer spending in the second quarter after it braked sharply at the start of the year.

The Conference Board said its consumer confidence index increased to a reading of 128.7 this month from 127.0 in March. Consumers’ short-term expectations also improved, with the share of consumers expecting their incomes to decline over the coming months reaching its lowest level since December 2000.

via Reuters

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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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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