According to data released by the US-based Conference Board (CB), the Consumer Confidence Index for the month of October fell to 125.9. This was a drop from the September figure of 126.3 (revised upwards from 125.1), and was lower than the market expectation of 128.2.
In the CB press release as reported by Reuters, the Consumer Expectations Index component came in at 94.9 in October as against the revised September figure of 96.8 (previous 95.8). Consumers also generally believed it was harder to secure work in October (11.8 in Jobs Hard-to-get Index) than in the previous month (11.0).
The worse-than-expected consumer confidence could be a booster for the British Pound in its pairing with the US Dollar, as we have a situation where diverging economic indicators are at work.