US March consumer confidence 104.2 vs 101.0 expected | Forexlive

• Prior was 102.9 (revised to 103.4)
• Present situation index 151.1 vs 153.0 prior
• Expectations index 73.0 vs 69.7 prior
• 1 year inflation 6.3% vs 6.3% prior
• Jobs hard-to-get 10.3 vs 10.5 prior
• 14.9% expect their incomes to increase, up from 14.4% last month

This is a hot reading and is bullish for the US dollar . US 2-year yields are up almost 2 bps in the aftermath of the data and USD/JPY has bubbled up to 131.07 after falling as low as 130.42 in early US trading.

“Driven by an uptick in expectations, consumer confidence improved somewhat in March, but remains below the average level seen in 2022 (104.5). The gain reflects an improved outlook for consumers under 55 years of age and for households earning $50,000 and over,” said Ataman Ozyildirim, Senior Director, Economics at The Conference Board.

A special question this month showed that consumers plan to spend less on highly discretionary categories such as playing the lottery, visiting amusement parks, going to the movies, personal lodging, and dining.

However, they say they will spend more on less discretionary categories such as health care, home or auto maintenance and repair, and economical entertainment options such as streaming.