U.S. consumer confidence surged to 111.7 in November, the highest in 2023, indicating positive economic momentum heading into the holiday season.
This renewed consumer confidence may greatly boost economic activity as spending typically increases during the holiday season, supporting overall growth.
Despite rising consumer confidence, expectations for a Federal Reserve interest rate cut remain mixed, with only a 53% probability for a 25-basis-point reduction.
The improved consumer confidence could reduce the necessity for significant rate cuts in 2024, fostering a favorable environment for the U.S. dollar.
Collection
[
|
...
]