U.S. Consumer Confidence Rose Again in November

The U.S consumer confidence index rose again during November, after this index had risen during October.

According to the recent U.S. consumer confidence survey, the consumer confidence index increased in November compared with October’s index: The index reached in November 73.7 (1985=100) an increase of 0.6 percent points from 73.1 in October. Further, American consumers’ short term outlook in U.S. business conditions remained positive November. Finally, the consumers’ assessment of current business conditions remained steady while the assessment of labor conditions improved during the month.

Note, this report was based on a survey conducted up to November 13th. In the last couple of weeks the situation didn’t seem to improve much in the financial markets, (e.g. the American stock markets indexes didn’t rise in recent weeks).

This consumer confidence index might be among the indexes to contribute to the recent rally of natural gas prices: according to a study, there was a positive significant relation between the “consumer confidence” news and changes in the price of natural gas i.e. this news is strongly and positively correlated with natural gas prices. Furthermore, the study suggested a positive significant relation between this news and oil prices.

In this case, since the recent consumer confidence index increased, this means this news, assuming all things equal, might positively affect energy prices including oil and natural gas rates (at best).

Today when this consumer confidence survey came out, most of the U.S stock markets fell during the day including the DOW, NASDAQ and S&P500. Alternatively, natural gas rose while oil prices declined.

Current Nymex oil WTI, short term futures (short term 2012 delivery) is traded at $87.29 per t oz. a $0.45 decrease or 0.51%, as of 20:17*.

Current Nymex Henry Hub natural gas, short term futures (short term 2012 delivery) is traded at $3.76 per t oz. a $0.03 increase or 0.86%, as of 20:17*.

For further reading: