US: UOM Consumer Sentiment plunges to record low of 50 (final) in June

UOM Consumer Sentiment Index dropped to a record low in June.
The US Dollar Index stays on the back foot after this data.

Eren Sengezer FXStreet

The University of Michigan's Consumer Sentiment Index declined to 50 in June's final reading from 50.2 in the flash estimate. This marked the lowest print on record.

Further details of the survey revealed that the Current Conditions Index dropped to 53.8 in June from 63.3 in May and the Consumer Expectations Index fell to 47.5 from 55.2.

The five-year inflation expectations got revised lower to 3.1% from the preliminary estimate of 3.3%.

Market reaction

The greenback stays under pressure after this data and the US Dollar Index was last seen losing 0.3% on the day at 104.08.

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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