U.S. consumer sentiment unexpectedly fell in July to a three-month low, while expectations gauge showed that consumers were more pessimistic than forecast, according to a report published on Friday.
The preliminary publication of the data for June from the University of Michigan's Consumer Survey Center showed that consumer sentiment fell to 89.5, from May’s reading of 93.5. That was its lowest reading since last April.
Analysts had forecast no change.
The current conditions indicator fell more than expected to 108.7 in July, compared to expectations of 109.3 and the previous month’s reading of 110.8. That was its lowest level since August 2014.
Meanwhile consumer expectations moved lower to 77.1 in July, compared to the consensus estimate of 81.5 and the previous month’s reading of 82.4.
Inflation expectations for the next 12 months rose to 2.8% from May’s reading of 2.4%, while the five-year gauge increased to 2.60%, from the prior 2.30%.
After the report, EUR/USD was trading at 1.1087 from around 1.1081 ahead of the release of the data, GBP/USD was at 1.3297 from 1.3293 earlier, while USD/JPY was at 105.93 from 105.83 prior to the publication.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 96.39, compared to 96.45 ahead of the report.
Meanwhile, U.S. stocks traded higher. The Dow Jones gained 26 points, or 0.14%, while the S&P 500 traded up 2 points, or 0.10%, and the tech-heavy NASDAQ Composite inched up 1 point, or 0.01%.
Elsewhere, in the commodities market, gold futures traded at $1,327.85 a troy ounce, compared to $1,326.85 ahead of the data, while crude oil traded at $46.20 a barrel from $46.11 earlier.
Investing.com
Posts
0 comments :
Post a Comment