US: UoM Consumer Confidence Index improves to 59.1 in December vs. 53.3 expected
|- UoM Consumer Confidence Index rose modestly in early December.
- US Dollar Index holds steady slightly below 105.00.
Consumer sentiment improved in the US in early December with the University of Michigan's (UoM) Consumer Confidence Index rising to 59.1 from 56.8 in November. This reading came in better than the market expectation of 53.3.
"Year-ahead inflation expectations improved considerably but remained relatively high, falling from 4.9% to 4.6% in December, the lowest reading in 15 months but still well above 2 years ago," the UoM further noted in its publication. "At 3.0%, long run inflation expectations has stayed within the narrow (albeit elevated) 2.9-3.1% range for 16 of the last 17 months."
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen staying flat on the day slightly below 105.00.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.