- Consumer confidence improves, but not as much as expected.
- Inflation expectations drop.
- The dollar falls modestly after the data.
The Preliminary September Consumer Confidence Report from the University of Michigan showed a recovery although with figures below expectations. The main index recorded an advance from 58.2 to 59.5, being that the market consensus was 60.
The current conditions index went from 58.6 to 58.9, while that of expectations went from 58 to 59.9. In regards to the inflationthe long-term expectations index it went from 2.9% to 3% and that of 1 year went from 4.8% to 4.6%.
The dollar had a modest setback in the market after the report was released. The market’s focus is on the Federal Reserve meeting next week. On Wednesday, a rise in the interest rate of 75 basis points is expected.
Source: Fx Street
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