US UoM Consumer Confidence Index fell further in May to 67.4
Source Fxstreet
- Consumer confidence in the United States contracted by more than anticipated in May
- UoM survey showed one-year and five-year inflation expectations edged higher.
Consumer confidence in the US fell in May, with the University of Michigan's Consumer Sentiment Index plummeting to 67.4 in April from 77.2 in March. The reading also missed the market expectation of 76.
The Current Conditions Index declined to 68.8 from 79 in the previous month. More worrisome, 1-year inflation expectations were up to 3.5% vs 3.2% previously, while 5-year inflation expectations increased to 3.1% from 3.0%.
Market reaction
The US Dollar remains on the back foot after the report, showing no reaction to the news. Meanwhile, stock markets continue to pressure weekly highs, in line with the dominant optimism.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin Price Rebound Gains Traction with $90K Break in SightBitcoin is trading above $87,000 and its 100-hour SMA after rebounding from $83,500, with a bearish trend line at $88,200 and resistance at $89,000–$90,000 now in focus as BTC either breaks higher toward $91,750–$94,000 or slips back toward $86,700, $85,000 and lower supports.
Bitcoin is trading above $87,000 and its 100-hour SMA after rebounding from $83,500, with a bearish trend line at $88,200 and resistance at $89,000–$90,000 now in focus as BTC either breaks higher toward $91,750–$94,000 or slips back toward $86,700, $85,000 and lower supports.
Ethereum Reclaims $3K Handle—Is a Breakout Imminent?Ethereum has jumped back above $3,000 and reclaimed key Fib levels, with a bullish trend line at $2,880 and strong MACD/RSI readings putting a breakout above $3,120–$3,165 — and a possible run toward $3,320–$3,350 — on the table, as long as support around $2,980–$2,920 holds.
Ethereum has jumped back above $3,000 and reclaimed key Fib levels, with a bullish trend line at $2,880 and strong MACD/RSI readings putting a breakout above $3,120–$3,165 — and a possible run toward $3,320–$3,350 — on the table, as long as support around $2,980–$2,920 holds.
Bitcoin (BTC) price continues to trade in green above $91,500 at the time of writing on Thursday after rebounding from the key support level.
Bitcoin holds steady above $90,000 as traders eye $100,000, buoyed by Thanksgiving market lull.
Gold (XAU/USD) attracts fresh buyers during the Asian session on Friday and climbs to a two-week high, with bulls now eyeing to reclaim the $4,200 mark amid dovish US Federal Reserve (Fed) expectations.
