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
WTI (USOIL) is down 2.03% at Sep 24 22:20(UTC+0), now at $92.517, with a 7-day down of 3.63%.What is driving WTI (USOIL)’s stock price down today?The drop in WTI crude oil prices was primarily driven by
Silver Price Forecast: XAG/USD remains steady near $64.00 as oil prices easeSilver price (XAG/USD) inches higher after two days of losses, trading around $63.90 per troy ounce during Asian hours on Friday. Non-yielding Silver is finding underlying support as inflation concerns ease following a pullback in crude oil prices.
Silver price (XAG/USD) inches higher after two days of losses, trading around $63.90 per troy ounce during Asian hours on Friday. Non-yielding Silver is finding underlying support as inflation concerns ease following a pullback in crude oil prices.
As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $
Yen touches 158.37 as Tokyo reopens, then slips back — ¥15.4 trillion of intervention and the 200-day line stand between here and 160USD/JPY reached 158.37 overnight, its highest since early September, then eased to 157.88 as Japanese markets reopened after a three-day holiday. The Ministry of Finance has spent ¥15.4 trillion defending the yen since late July and the BOJ ran a rate check on September 18. The 200-day average sits at 158.43.
USD/JPY reached 158.37 overnight, its highest since early September, then eased to 157.88 as Japanese markets reopened after a three-day holiday. The Ministry of Finance has spent ¥15.4 trillion defending the yen since late July and the BOJ ran a rate check on September 18. The 200-day average sits at 158.43.
US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth storyUS September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.
US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.
Related Instrument
