US Conference Board Consumer Confidence: Modest improvement not enough to outweigh pandemic influence

Consumer confidence is expected to continue recovering in June while improving economic statistics vie with the pandemic for market influence, Joseph Trevisani, an analyst at FXStreet, reports.

Key quotes

“Conference Board consumer confidence is expected to rise to 91.6 in June from 86.6 in May. The plunge from 132.6 in February to 85.7 in April was the largest two-month drop in the 53 year series.”

“With lockdowns at an end across the country the return to employment in June is probably more widespread than anticipated. The risk to the jobs numbers and consumer sentiment is on the upside though better than expected numbers will not be enough to allay all the pandemic fears.”