Investing.com - U.S. consumer confidence deteriorated unexpectedly in July, dampening optimism over the health of the economy, industry data showed on Tuesday.
In a report, the Conference Board, a market research group, said its index of consumer confidence tumbled to 90.9 this month from a reading of 99.8 in June, whose figure was revised from a previously reported 101.4. Analysts expected the index to rise to 100.0 in July.
The Present Situation Index decreased moderately from 110.3 last month to 107.4 in July, while the Expectations Index declined sharply to 79.9 from 92.8 in June.
Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “A less optimistic outlook for the labor market, and perhaps the uncertainty and volatility in financial markets prompted by the situation in Greece and China, appears to have shaken consumers’ confidence."
EUR/USD was trading at 1.1054 from around 1.1038 ahead of the release of the data, GBP/USD was at 1.5608 from 1.5595 earlier, while USD/JPY was at 123.58 from 123.64 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 96.84, compared to 96.97 ahead of the report.
Meanwhile, U.S. stock markets were mildly higher after the open. The Dow 30 rose 0.25%, the S&P 500 tacked on 0.3%, while the Nasdaq Composite inched up 0.1%.
Elsewhere, in the commodities market, gold futures traded at $1,096.50 a troy ounce, compared to $1,096.80 ahead of the data, while crude oil traded at $47.28 a barrel from $47.30 earlier.