US: UoM Consumer Sentiment Index falls to 61.7 in February versus expected 67.5, lowest since late 2011
|- UoM's Consumer Sentiment Index fell to its lowest since October 2011 at 61.7 in February, a much larger than expected drop.
- FX markets did not see any notable reaction to the latest poor data.
According to the University of Michigan's preliminary February Consumer survey, the Consumer Sentiment Index fell to 61.7 in February, well below expectations for a slight rise to 67.5 from 67.2 in January. That marked the lowest such reading since October 2011. The Current Conditions Index fell to 68.5 from 72.0 in January versus forecasts for a small rise to 73.0, its lowest reading since August 2011. The Consumer Expectations Index fell to 57.4 from 64.1 in January, it's lowest such reading since November 2011. The one-year Inflation Expectations Index rose to its highest since July 2008 at 5.0% from 4.9% in January.
Market Reaction
Poor Consumer Sentiment data has failed to shift the dial for the US dollar, with the DXY continuing to trade sideways in the 95.80s, where it trades broadly flat on the session.
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.