US: UoM Consumer Sentiment Index improves modestly to 71 in September vs. 72.2 expected
- UoM Consumer Sentiment Index edged slightly higher in early September.
- US Dollar Index stays in the positive territory near 93.00.
Consumer confidence in the US improved modestly in September with the University of Michigan's Consumer Sentiment Index rising to 71 (September) from 70.3 in August. This reading came in slightly weaker than the market expectation of 72.2.
Further details of the publication revealed that the Current Conditions Index declined to 771. from 78.5 and the Consumer Expectations Index edged higher to 67.1 from 65.1.
Commenting on the data, "the steep August falloff in consumer sentiment ended in early September, but the small gain still meant that consumers expected the least favorable economic prospects in more than a decade," noted Richard Curtin, Surveys of Consumers chief economist.
Market reaction
This report doesn't seem to be having a significant impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was up 0.14% on the day at 92.99.
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.
