Bloomberg Consumer Comfort Index Hits New 17-Year High

A coffee shop displays signs for Visa, MasterCard and Discover, in Washington, May 1, 2013. (Photo: Reuters)

The Bloomberg Consumer Confidence Index rose 0.4 in the April 1 week to 57.2 and a new 17-year high, fueled by the tax cut and labor market strength.

The index, which since 1985 had been sponsored by ABC News, gauges views on the condition of the U.S. economy, personal finances and the climate for consumer spending.

A higher-than-expected reading should be taken as positive/bullish for the USD, while a lower-than-expected reading should be taken as negative/bearish for the USD.