US UoM Consumer Confidence Index rises to 67.8 in August vs. 66.9 expected

Consumer confidence in the US improved slightly in early August.
UoM survey showed one-year inflation expectation held steady at 2.9%.

Eren Sengezer FXStreet

Consumer confidence in the US improved slightly in early August, with the University of Michigan's Consumer Sentiment Index edging higher to 67.8 from 66.4 in July. This reading came in above the market expectation of 66.9.

The Current Conditions Index declined to 60.9 from 62.7 and the Consumer Expectations Index rose to 72.1 from 68.8.

The details of the survey revealed that the one-year inflation expectation held steady at 2.9%, while the five-year inflation outlook stood unchanged at 3%.

Market reaction

This report failed to trigger a noticeable reaction in the US Dollar Index, which was last seen losing 0.3% on the day at 102.75.

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.

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