The drop in sentiment suggests that consumer spending may continue to moderate after a separate report on Friday showed it was less of a driver for third-quarter economic growth than in the previous period. While hiring has been solid and wages are rising, the uncertainty of the election could also be weighing on confidence. “There’s no doubt it’s played a role” in reducing sentiment, Richard Curtin, director of the University of Michigan consumer survey, said on a Bloomberg conference call. He estimated that uncertainty related to the vote has impacted the confidence gauge by three points. Most people surveyed expect a Clinton victory.
Euro is currently being traded around 1.0970 level, Sterling is at 1.2180 area, while Aussie is below 0.76 handle.
