US: UoM Consumer Sentiment Index recovers to 78.9 in June vs. 75 expected
|- Consumer sentiment in the US continues to improve in June.
- US Dollar Index turns flat on the day near 96.80 after the data.
The Consumer Sentiment Index in the US edged higher to 78.9 in June (preliminary) from 72.3 in May, the University of Michigan's latest Surveys of Consumers showed on Friday. This reading came in better than the market expectation of 75.
Further details of the publication showed that the Current Economic Conditions Index rose to 87.8 from 82.3 and the Index of Consumer Expectations edged higher to 73.1 from 65.9.
"Consumer sentiment posted its second monthly gain in early June, paced by gains in the outlook for personal finances and more favorable prospects for the national economy due to the reopening of the economy," noted Richard Curtin, Surveys of Consumers chief economist. "The turnaround is largely due to renewed gains in employment, with more consumers expecting declines in the jobless rate than at any other time in the long history of the Michigan surveys."
Market reaction
This data doesn't seem to be having a significant impact on risk perception. As of writing, the US Dollar Index was virtually unchanged on the day at 96.81.
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