The index of University of Michigan consumer sentiment has fallen 4.3 points in October, falling to 63.8 compared to 68.1 points in September. Despite the fall, the indicator improves the consensus forecasts, which expected a decline to 63.0.
This is the worst result recorded in the last five months, specifically since May. Furthermore, this is the third consecutive decline for the indicator.
The component of University of Michigan’s 5-year consumer inflation expectation has risen to 3% from the previous 2.8%, meeting expectations.
USD reaction
He Dollar Index (DXY) reached a daily high at 106.80 after European midday, but after the US data it has fallen to two-day lows at 106.32. At the time of writing, the greenback is trading above 106.51, losing 0.10% 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.