US UoM Consumer Sentiment Index improves to 61.8 in July vs. 61.5 expected
Source Fxstreet
- UoM Consumer Sentiment Index rose more than expected in July's flash estimate.
- US Dollar Index extends its daily slide toward 98.00.
Consumer confidence in the United States (US) improved in July, with the University of Michigan's (UoM) preliminary Consumer Sentiment Index rising to 61.8 from 60.7 in June. This reading came in better than the market expectation of 61.5.
The Current Conditions Index rose to 66.8 from 64.8 in this period, while the Consumer Expectations Index edged higher to 58.6 from 58.1.
Other details of the survey showed that the 1-year Consumer Inflation Expectations declined to 4.4% from 5% in June and the 5-year Consumer Inflation Expectations fell to 3.6% from 4%.
Market reaction
The US Dollar (USD) stays under bearish pressure following this report. At the time of press, the USD Index was down nearly 0.5% on the day at 98.15.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is retracing its recent gains from the previous session and hovering around 98.50 during the Asian hours on Friday.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC nears all-time high, ETH eyes $4,000, XRP sets new recordBitcoin (BTC) price is trading above $120,000 on Friday, inching closer to its all-time high of $123,218. Ethereum (ETH) price has surged by over 20% so far this week, with bulls aiming for the $4,000 level next.
Bitcoin (BTC) price is trading above $120,000 on Friday, inching closer to its all-time high of $123,218. Ethereum (ETH) price has surged by over 20% so far this week, with bulls aiming for the $4,000 level next.
West Texas Intermediate (WTI) Oil price extends its gains for the second successive day, trading around $66.40 per barrel during the Asian hours on Friday. Crude Oil prices receive support from concerns over supply risks.
Gold price (XAU/USD) struggles to capitalize on the overnight bounce from the $3,309 area, or a one-week low, and oscillates in a narrow trading band during the Asian session on Friday.
After beating the resistance mounted at the $3,000 by bears for months now, the Ethereum price looks primed for a further breakout. Expectations currently are that the Ethereum price rally will
