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US Consumer Sentiment edged lower in January

Friday, Jan 29 2016
The University of Michigan final index of sentiment dropped to 92 from 92.6 in December, backtracking from a preliminary January reading of 93.3. The median projection in a Bloomberg survey called for 93. “Most of the downward revisions that occurred in late January were due to stock market declines, reflected in the erosion of household wealth as well as weakened prospects for the national economy,” Richard Curtin, director of the University of Michigan consumer survey, said in a statement.
 The Chicago Business Barometer bounced back sharply in January, increasing 12.7 points to 55.6 from 42.9 in December, the highest pace of growth in a year. Analysts were expecting smaller incline to 45.6. The latest increase followed extreme weakness in the fourth quarter, with the Barometer averaging 47.7, the weakest quarterly growth since Q3 2009. The three month trend remained depressed at 48.7, up only slightly from 47.7 in December.
 
Euro is currently being traded few points above 1.0890 level, Sterling is around 1.4280 handle, while Aussie is around 0.71 area. 
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