What happened? On Monday, February 21, Russian President Vladimir Putin signed decrees recognizing the sovereignty of the Donetsk and Lugansk People's Republics…
American consumer confidence reaches 18-year maximum
In September, American consumer confidence ascended to an 18-year maximum because the country’s households became more optimistic as for the labor market, referring to sustained strength in the American economy notwithstanding an increasingly bitter trade clash between China and America.
While other Tuesday’s data revealed a moderation in house price jumps in July, the profits most likely remain sufficient to spur household wealth and keep backing consumer spending and also making home purchasing cheaper for first-time buyers.
The Conference Board told that its consumer confidence index edged up to an outcome of 138.4 in September from an upwardly updated 134.7 in August. It turned out to be the best outcome since September 2000. What’s more, the index isn’t far from an all-time maximum of 144.7 hit that year.
Market experts who were interviewed by Reuters had hoped that the consumer index would dive to an outcome of 132.0 in September from the previously uncovered 133.4 in August.
Additionally, consumers' assessment of labor market conditions steeply rallied because the trade conflict between China and America worsened and market experts told it would end up in job losses as well as higher prices for consumers.
On Monday, the US government slapped levies on $200 billion worth of China’s products, with the Chinese government repeating with levies on $60 billion worth of American goods. China and America had already slapped levies on $50 billion worth of each other's products.
Some market experts are assured that a tightening labor market that is starting to spur wage surge, while higher savings could ensure a cushion for US households against less affordable consumer imports from China.
The firm labor market, along with the firm economy as well as steadily ascending inflation, have left market experts confident that the Fed will lift interest rates on Wednesday for the third time in 2018.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The Consumer Price Index will be out at 15:30 MT (GMT+2) on Wednesday, January 12.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.