The index of Consumer sentiment from the University of Michigan is up 2.3 points in the December preliminary reading, rising to 59.1 from 56.8, notably improving on the market consensus expected retracement to 53.3.
Today’s reading is the highest in the past two months and the second highest since April.
The 5-year consumer inflation expectations from the University of Michigan has remained unchanged at 3%, being for the second consecutive month the highest level expected since last June. It should be noted that this is a key indicator for making decisions on the pace of interest rates, as the Fed recognized in one of its last meetings.
EUR/USD Reaction
The EUR/USD bearish pressure after the consumer sentiment data. Although it previously fell to daily lows of 1.0503 on US producer prices, it is now trading around 1.0528, shedding 0.25% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
