US: UoM Consumer Confidence Index improves to 63.9 in June vs. 60 expected
- UoM Consumer Confidence Index rose more than expected in early June.
- US Dollar Index stays in daily range slightly above 102.00.
Consumer sentiment in the US improved in early June, with the University of Michigan's (UoM) Consumer Confidence Index rising to 63.9 from 59.2 in May. This reading came in better than the market expectation of 60.
"Year-ahead inflation expectations receded for the second consecutive month, falling to 3.3% in June from 4.2% in May," the UoM further added in its publication. "The current reading is the lowest since March 2021. In contrast, long-run inflation expectations were little changed from May at 3.0%, again staying within the narrow 2.9-3.1% range for 22 of the last 23 months."
Market reaction
This report doesn't seem to be having a significant impact on the US Dollar's (USD) performance against its rivals. As of writing, the US Dollar Index was virtually unchanged on the day at 102.10.
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.
