US: UOM Consumer Confidence Index improves to 59.5 in September vs. 60 expected
|- Consumer confidence in the US improved modestly in September.
- UoM's long-run inflation outlook edged lower to 2.8% from 2.9%.
Consumer sentiment in the US improved slightly in early September with the University of Michigan's (UoM) Consumer Confidence Index edging higher to 59.5 (flash) from 58.2 in August. This print came in below the market expectation of 60.
The Current Conditions Index edged higher to 58.9 from 58.6 and the Expectations Index rose to 59.9 from 58.
The long-run inflation expectation ticked up to 3% from 2.9% while the 1-year inflation outlook fell to 5% from 5.2%.
The report further revealed that the one-year inflation expectation declined to 4.6% and the five-year inflation expectation edged lower to 2.8% from 2.9%.
Market reaction
The US Dollar Index retreated from daily tops after this report and was last seen trading at 109.95, where it was still up 0.2% on a daily basis.
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.