US CB Consumer Confidence Index eases to 93.1 in May

US consumer sentiment loses some momentum in May, as the Conference Board’s Consumer Confidence Index recedes to 93.1 from April’s 93.8 (revised from 92.8).

“Consumer appraisals of current business conditions and the current labor market were moderately less positive compared to last month. This was somewhat offset by modest improvements in consumers’ expectations for business conditions and the labor market six months from now. Meanwhile, income expectations eased in May, as those anticipating less income rose”, said Dana M Peterson, Chief Economist at The Conference Board.

Market reaction

The US Dollar (USD) reverses Monday’s optimism, advancing modestly beyond the 99.00 barrier against the backdrop of steady uncertainty surrounding the Middle East crisis.