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US consumer confidence at its highest in a year

30 Mar 2021 05:35 PM

Consumer confidence in the United States improved significantly during the month of March, reaching its highest level since the start of the Coronavirus pandemic, which supports trends indicating an acceleration of economic growth in the coming months, driven by more fiscal stimulus and improved public health.

The consumer confidence index jumped to 109.7 in March, the highest level since the start of the epidemic in March of last year, while February's reading was at 90.4, but confidence is still much lower than February 2020's reading of 132.6.

This was clearly reflected in the movements of the US dollar, which rose strongly to its highest level in four months, supported by high bond yields. On the other hand, gold prices tumbled to the lowest levels since March 8, around $ 1678, near the important support level at $ 1676, which breaching it would open the door to targeting prices at $ 1600/1570 levels.

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