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Prelim UoM Consumer Sentiment US

The Deteriorating Trend Set to Continue for UoM Consumer Sentiment

Starts Friday, October 11, 2019 at 14:00
Updated Friday, October 11, 2019
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The US consumer sentiment has been on a slowly declining trend. The UoM consumer confidence peaked above 100 in September. Although, in December it posted a steep decline of around 7 points, from 98.75 to 90.7 points. That might be a result of the US government shutdown which was the longest in history, leaving around 800,000 federal workers without a paycheck. Although, the confidence grew in February to  95.5 points, which was revised down to 93.8 points. This month though, UoM consumer confidence jumped higher to 97.8 points from 93.8 points. The sentiment deteriorated a bit further in June, but it May it improved slightly coming at 100 points. But the weakening trend resumed and in August we saw a big fall to 92.1 points, which was revised lower to 89.8 points in September. The number for September on the other hand was revised higher from 92.0 to 93.2 points. But, this month the declining trend is expected to resume again and this indicator to fall at 92.0 points. Please follow us for live coverage of this  event by experienced market analysts.

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About Prelim UoM Consumer Sentiment US
It's delivered by the University of Michigan. Consumer confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity. Survey of about 5,000 households which asks respondents to rate the relative level of current and future economic conditions including labor availability, business conditions, and overall economic situation. There are 2 versions of this data released 14 days apart – Preliminary and Revised. The Preliminary release is the earlier and thus tends to have the most impact.
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Skerdian Meta Lead AnalystAzran Recent comment authors
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Azran

Do you think the EURUSD will continue it’s uptrend as seen recently

Skerdian Meta Lead Analyst
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Perhaps it will until after the New Year. But, week fundamentals will eventually catch up with the Euro and send it lower.

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