U.S. Consumer Sentiment unexpectedly decreased to 90.7
The University of Michigan’s preliminary index decreased to 90.7 from 92 in January, a report showed Friday. The median projection called for 92.6. While sentiment cooled for a second month, so did households’ long-term inflation expectations, which declined to the lowest in records to 1979. A weakening of sentiment reflected the impact of the recent turmoil in equity markets, fueled by everything from declining oil prices to a dimmer global outlook.
At the same time, households were more upbeat about their financial prospects because they expect inflation to remain low. “When asked about expected income gains during the year ahead, an increase of 1.6 percent was anticipated across all households, twice last month’s low of 0.8 percent, and just above the median expected increase recorded on average during 2015,” Richard Curtin, director of the Michigan Survey of Consumers, said in a statement.
Euro is currently being traded around 1.1250 level, Steling is at 1.4470 handle, while Aussie is at 0.7080 area.
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