UoM Consumer Sentiment climbed more than forecast
Consumer sentiment climbed more than forecast in October as lower-income Americans projected wage gains will accelerate and falling energy prices helped stretch paychecks.The University of Michigan’s preliminary consumer sentiment index for this month rose to 92.1, the first advance in four months, from 87.2 in September, a report showed Friday. The median projection called for 89.
The bottom third of the income scale projected their pay over the next year will increase by the most in more than a decade, and low inflation combined with cheap borrowing costs boosted plans to buy big-ticket items. Stabilization in financial markets also eased concern slowing growth overseas would cause the world’s largest economy to cool, even as consumers anticipated smaller increase in payrolls.
“Consumers have concluded that the fears expressed on Wall Street do not extend to Main Street,” Richard Curtin, director of the Michigan Survey of Consumers, said in a statement. “Continued job growth remains the key, especially since consumers have become more concerned that the pace of future job growth will slow.”
Euro is currently being traded around 1.1360 level, Sterling is around 1.5440 area, while Aussie is at 0.7260 level.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419