“US Consumer Confidence Index Surges Unexpectedly, Markets React Strongly”

Investing.com – The US Confidence Index data was released a moment ago, sending various markets taking a breather until the end of the week employment data.

The US economy is living in flaming times under the flames of the debt ceiling crisis, which was renewed today with the announcement of the Republican Party spokesman’s rejection of the new agreement, as well as under the weight of the continuation of the tightening policies of the US Federal Reserve, which faced a rebound in the data of the personal consumption expenditures index, which is preferred in assessing inflation, which prompted expectations to return. to surface again.

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US Consumer Confidence data for the month of May was released at 102.3 points, while experts had expected it to be 99.0 points.

The US Consumer Confidence Index data recorded 101.3 last reading in April.

Markets now..before the data is released

The markets turned after the US debt ceiling crisis became complicated again, as it turned from a two-month peak to a decline and regained its rise.

Spot gold contracts are now trading at $1953.6, up by 0.40%, while futures contracts are recording $1971.35, up by 0.38%.

The US dollar index drops to 103.938 against a basket of 6 foreign currencies, down by 0.19%. The largest decline came at the 10-year term, which fell by 2.06% to 3.739%.

Oil contracts also witnessed a strong decline. It lost {8849 3.54% to $74.36 a barrel. While Texas crude futures recorded $70.12 a barrel, down by 0.75%.

It fell by 0.84%, to $23.168 an ounce.

Bit continues to rise by 1.24% towards $28,000 resistance, and is now trading at $27,891, up $318 in the last hours.

On the other hand, Ethereum rose by 0.42% to $1907.72, and the charts reveal an ascending range for Ethereum targeting $2000.

Technical analysis of gold and the dollar

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