US UoM Consumer Confidence Index declines to 68.9 in October vs. 70.8 expected
Source Fxstreet
- Consumer confidence in the US declined slightly in early October.
- UoM survey showed one-year inflation expectation edged higher to 2.9%.
Consumer confidence in the US weakened slightly in early October, with the preliminary University of Michigan's Consumer Sentiment Index edging lower to 68.9 from 70.1 in September. This reading came in below the market expectation of 70.8.
The Current Conditions Index declined to 62.7 from 63.3 and the Consumer Expectations Index fell to 72.9 from 74.4.
The details of the survey showed that the one-year inflation expectation edged higher to 2.9% from 2.7%, while the five-year inflation outlook decreased to 3% from 3.1%.
Market reaction
These data failed to trigger a noticeable market reaction. At the time of press, the US Dollar Index was virtually unchanged on the day at 102.85.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Solana (SOL) price trades in green, above $242 at the time of writing on Monday, after breaking out of a parallel channel last week with bulls aiming for record highs.
Gold (XAU/USD) retreats slightly after touching a fresh record high, around the $3,689-3,690 region during the Asian session on Tuesday, amid some repositioning trade ahead of key central bank events.
The USD/CHF pair falls sharply to near 0.7915 during the European trading session on Tuesday.
The US Dollar (USD) stays under modest bearish pressure early Tuesday as investors adjust their positions ahead of the Federal Reserve's critical two-day policy meeting.
The NZD has failed to breach 0.5980 resistance against the USD, but downside attempts remain limited so far.
