US UoM Consumer Confidence Index declines to 60.4 in November vs. 63.7 expected
- UoM Consumer Confidence Index declined further in November.
- US Dollar Index stays in daily range bear 106.00 after the data.
Consumer sentiment in the US continued to weaken in November, with the University of Michigan's (UoM) Consumer Confidence Index declining to 60.4 from 63.8 in October. This reading fell short of the market expectation of 63.7.
Further details of the publication revealed that the Current Conditions Index fell to 65.7 from 70.6 and the Expectations Index retreated to 56.9 from 59.3.
The one-year inflation outlook jumped rose to 4.4% from 4.2%, while the 5-year inflation outlook climbed to 3.2% from 3%.
Market reaction
The US Dollar Index showed no immediate reaction to these data and was last seen posting small daily gains at 106.00.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
