US UoM Consumer Confidence Index declines to 77.9 in April vs. 79 expected
Source Fxstreet
- Consumer confidence in the US weakened in early April.
- UoM survey showed one-year and five-year inflation expectations edged higher.
Consumer confidence in the US weakened in early April, with the University of Michigan's Consumer Sentiment Index edging lower to 77.9 from 79.4 in March. This reading came in below the market expectation of 79.
The Current Conditions Index declined to 79.3 from 82.5 and the Consumer Expectations Index fell to 77 from 77.4.
The details of the survey revealed that the one-year inflation outlook climbed to 3.1% from 2.9% in April, while the five-year inflation outlook rose to 3% from 2.8%.
Market reaction
The US Dollar preserves its strength after this report. At the time of press, the US Dollar Index was up 0.65% on the day at 105.95.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Recently, silver prices ( XAGUSD) have been fluctuating within the $73.60-$78.00 range, impacted by shifting U.S.-Iran tensions. However, as signals emerge of further easing in the situat
Gold declines below $4,500 as Iran tensions stoke inflation fears and bolster Fed hike betsGold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.
Gold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.
Bitcoin (BTC) edges below $73,000 at press time on Monday, extending its decline under the prevailing downside pressure from three consecutive weeks of losses.
Fed’s Powell says credibility lost if President can fire officialsFormer Federal Reserve (Fed) Chair Jerome Powell said the US central bank would damage public trust that’s required to support a strong and stable economy if any president were free to dismiss Fed officials over policy disagreements, Bloomberg reported on Monday.
Former Federal Reserve (Fed) Chair Jerome Powell said the US central bank would damage public trust that’s required to support a strong and stable economy if any president were free to dismiss Fed officials over policy disagreements, Bloomberg reported on Monday.
Here is what you need to know on Friday, May 29:
