There is a move to largely ignore falling US consumer confidence as it dwindles because of political uncertainty. We’re in an era where politics and the news cycle dominates feelings rather than real indications on wages and job availability.
That said, it’s been four straight months of a swan dive in US consumer confidence and that series is at the lowest since January 21. Worse yet the forward expectations measure is at the lowest in 12 years.
It takes a strong will to lean against that, especially as we near the April 2 Trump tariff date and a constant stream of headlines that indicate various rates and targets.
Canada is both a tariff target and a proxy for US/global growth. USD/CAD jumped to 1.4309 from 1.4280 on the consumer confidence headlines.
USD/CAD 10 minute chart
Similarly, we’ve seen AUD and NZD fall around a dozen pips as the US dollar rises following the data. The euro and pound have also lost most of today’s gains and USD/JPY is down nearly a full cent.
