US Michigan Consumer Sentiment Preview: The worse the statistic the better for USD
|US Michigan Consumer Sentiment is predicted to fall to a more than six-year low. Weak consumer sentiment will support risk-averse US dollar, according to FXStreet’s analyst Joseph Trevisani.
Key quotes
“Sentiment is predicted to fall to 75, a more than six-year low while estimates range from 60 to 89.”
“If the forecast for April is correct the plunge from March will be 14.1 the largest on record and the two-month decline of 26 would have no rivals for the swiftest and deepest collapse in attitudes since the University of Michigan began asking Americans how they felt in November 1952.”
“Which path consumer sentiment follows in the months ahead depends on the speed and finality with which the virus threat dissipates. The ability to resume normal life is, for most people, inherent in their worldview. It will not take a great deal for that resiliency to triumph but it is by no means assured.”
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