US Consumer Sentiment Disappoints



US consumer sentiment, as measured by the University of Michigan, dropped to 82.7 points. It was expected to edge up from 84.5 to 84.9 points in June. The previous figure was the highest since July 2007. This is the preliminary reading. The indicator became more significant in recent months.

EUR/USD is on the rise and USD/JPY is below 95 once again.

US industrial output remained flat in May, falling short of expectations for a gain of 0.3%. The capacity utilization rate slid from 77.9% to 77.6%.

Earlier, the TIC Long-Term Purchases disappointed by turning negative: an outflow of 37.3 billion dollars – the third consecutive negative number.

PPI rose by 0.5% and the current account deficit came out better than expected in the first round of US figures released today. This helped the dollar a bit.

The market’s focus is moving towards the FOMC decision next week, on June 19th.




About

Yohay Elam – Founder, Writer and Editor

I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me.

Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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