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 consolidates below $84.50, two-week top as bullish bias remains amid Hormuz standoffWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – extends its consolidative price move through the first half of the European session and currently trades near the $84.25-$84.30 area, close to a two-week high set earlier this Tuesday.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – extends its consolidative price move through the first half of the European session and currently trades near the $84.25-$84.30 area, close to a two-week high set earlier this Tuesday.
Australian Dollar gains as US Dollar struggles amid fading Fed rate hike betsAUD/USD extends its gains for the third successive day, trading around 0.7110 during the Asian hours on Tuesday. The currency pair continues to appreciate as the US Dollar (USD) remains subdued amid fading expectations for further rate hikes by the Federal Reserve (Fed).
AUD/USD extends its gains for the third successive day, trading around 0.7110 during the Asian hours on Tuesday. The currency pair continues to appreciate as the US Dollar (USD) remains subdued amid fading expectations for further rate hikes by the Federal Reserve (Fed).
As of the European session on August 17, gold prices (XAUUSD) were trading above $4,400, up about 0.7% on the day and reaching an intraday high of $4,416.43, extending last Friday's gains
Gold gains momentum to near $4,400 as Fed hike expectations drop despite Us-Iran tensionsGold price (XAU/USD) gains momentum to around $4,395 during the early Asian trading hours on Monday. The precious metal extends the rally as cooling US inflation data has dampened expectations for the US Federal Reserve (Fed) interest rate hike.
Gold price (XAU/USD) gains momentum to around $4,395 during the early Asian trading hours on Monday. The precious metal extends the rally as cooling US inflation data has dampened expectations for the US Federal Reserve (Fed) interest rate hike.
As of the European session on August 14, international spot copper prices (COPPER) continued to fluctuate near historical highs, trading around $14,070, down slightly by 0.3% intraday. De
Related Instrument
