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Consumer confidence rises to 81.2 in October, beating expectations

The preliminary consumer confidence report from the University of Michigan showed a rise in the main indicator of 80.4 to 81.2 in October, data that was above the market consensus of 80.5.

The index on present conditions fell from 87.8 to 84.9, while that of expectations went up from 75.6 to 78.8.

The dollar remained unchanged after the report. Mixed data on the US economy had previously been known with an above-expected rise in retail sales in September and an unexpected drop in industrial production.

Credits: Forex Street

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