US UoM Consumer Sentiment Index is seen declining to 57.9 in March
Source Fxstreet
- Consumer confidence in the US declined markedly in early October.
- One-year inflation expectation edged higher to 4.9%.
US Consumer Sentiment took a dip in early March, according to the preliminary reading of the University of Michigan’s Consumer Sentiment Index. The gauge slipped from 64.7 in February to 57.9, missing the market’s forecast.
Breaking it down further, the Current Conditions Index edged down from 65.7 to 63.5, while the Consumer Expectations Index moved from 64.0 to 54.2.
On the inflation front, the survey revealed a noticeable uptick in one-year inflation expectations—from 4.3% to 4.9%—and the five-year outlook rose from 3.5% to 3.9%.
Market reaction
The release of the indicator did not move the Greenback’s dial, with the US Dollar Index (DXY) resuming its downtrend after two-daily upticks in a row and revisiting the 103.80 region, down modestly for the day.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.
TradingKey - When it comes to US economic data, the Nonfarm Payrolls (NFP) is indeed one of the most significant indicators. This employment report, covering more than 90% of the employed population i
Gold price attracts some buyers near the $3,312-3,311 region during the Asian session on Monday and fills a modest bearish gap opening amid subdued USD price action.
Solana (SOL) price extends its recovery, trading above $192 at the time of writing on Monday, after rebounding from the ascending trendline support last week.
Silver (XAG/USD) builds on the previous day's positive move and gains strong follow-through traction for the second straight day on Tuesday.
Related Instrument
