US: UoM Consumer Sentiment Index improves to 81.8 in October (final) vs. 81.2 expected
|- Consumer confidence in the US improved modestly in October.
- US Dollar Index largely ignored this data and stays in red near 93.80.
The Consumer Sentiment Index in the US rose from 80.4 in September 81.8 (final) in October, the University of Michigan's latest Surveys of Consumers showed on Friday. This reading came in better than the market expectation and the previous estimate of 81.2.
Further details of the publication revealed that the Current Economic Conditions Index edged lower to 85.9 from 87.8 and the Index of Consumer Expectations improved to 79.2 from 75.6.
Commenting on the data, "fears were generated by rising covid infection and death rates, and loathing was generated by the hyper-partisanship that has driven the election to ideological extremes," said Surveys of Consumers chief economist, Richard Curtin. "Moreover, the impact of the covid virus and the extremes of hyper-partisanship will continue long past next week's election, with the potential to permanently alter the economic and political landscape."
Market reaction
The US Dollar Index showed no immediate reaction to this data and was last seen losing 0.15% on the day at 93.80.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.