US: UoM Consumer Confidence Index improves to 59.8 in October vs. 59 expected
|- Consumer confidence in the US improved modestly in early October.
- UoM's long-run inflation outlook edged higher to 2.9% from 2.7%.
Consumer sentiment in the US improved slightly in early October with the University of Michigan's (UoM) Consumer Confidence Index edging higher to 59.8 (flash) from 58.6 in September. This print came in better than the market expectation of 59.
The Current Conditions Index rose to 65.3 from 59.7 and the Expectations Index declined to 56.2 from 58.
The report further revealed that the one-year inflation expectation rose to 5.1% and the five-year inflation expectation edged higher to 2.9% from 2.7%.
Market reaction
The greenback preserves its strength after this report and the US Dollar Index was last seen rising 0.55% on the day at 113.08.
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.