BREAKING: US weakens after upbeat UoM consumer sentiment data

The University of Michigan consumer confidence for the US rose to 64.6 in January from 59.7 in December, well above market forecasts of 60.4, preliminary estimates showed. It is the highest reading since April.

Current conditions were assessed more positively (68.6 vs. 59.4) and the expectations gauge also improved from 59.9 to 62. Full-year inflation expectations eased for the fourth consecutive month, falling to 4.0% in January from 4.4% in December, the lowest level since April 2021. Long-term inflation expectations were little changed from December at 3.0%, again staying within the narrow 2.9 range of -3.1% for 17 of the last 18 months.

The EURUSD pair once again returned above the 1.0800 level. Source: xStation5

This material is advertising communication as understood in article 24.3 of Directive 2014/65/UE (MiFID II). This advertising communication is not an investment recommendation or information that recommends or suggests an investment strategy within the meaning of Regulation (EU) No. 596/2014 on market abuse and Delegated Regulation (EU) 2016/958 by which Regulation (EU) No. 596/2014 is completed, nor is it included in the scope of investment advice included in the Securities Market Law (article 140.1 g). This advertising communication has been prepared with the greatest possible diligence, transparency and objectivity, presenting the facts known to the author at the time of its creation and is exempt from any element of analysis. This marketing communication has been prepared without regard to the client’s needs or individual financial situation, and does not represent any investment strategy or recommendation. In the event that the advertising communication contains information on the performance or behavior of the financial instrument to which it refers, this does not constitute any guarantee or forecast of future results. Past performance is not necessarily indicative of future results and any person acting on this information does so at their own risk. CFDs are complex instruments and are associated with a high risk of losing money quickly due to leverage. 82% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take a high risk of losing your money.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.