US UoM Consumer Sentiment Index improves to 61.8 in July vs. 61.5 expected
Source Fxstreet
- UoM Consumer Sentiment Index rose more than expected in July's flash estimate.
- US Dollar Index extends its daily slide toward 98.00.
Consumer confidence in the United States (US) improved in July, with the University of Michigan's (UoM) preliminary Consumer Sentiment Index rising to 61.8 from 60.7 in June. This reading came in better than the market expectation of 61.5.
The Current Conditions Index rose to 66.8 from 64.8 in this period, while the Consumer Expectations Index edged higher to 58.6 from 58.1.
Other details of the survey showed that the 1-year Consumer Inflation Expectations declined to 4.4% from 5% in June and the 5-year Consumer Inflation Expectations fell to 3.6% from 4%.
Market reaction
The US Dollar (USD) stays under bearish pressure following this report. At the time of press, the USD Index was down nearly 0.5% on the day at 98.15.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Ethereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.
Bitcoin fell below $90,000 to around $88,300 as risk-off headlines hit markets, while on-chain data shows new whales now lead Realized Cap with a ~$98,000 cost basis and ~$6B unrealized losses.
Gold (XAU/USD) is seen extending the previous day's modest pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifting lower through the Asian session on Thursday.
President Trump's pledge to sign pro-crypto legislation boosts Bitcoin prices as he emphasizes keeping the US as a crypto leader.
