US: Consumer Sentiment Index improves to 86.4 in June vs. 84 expected

• Consumer confidence in the US improved in June.
• US Dollar Index continues to push higher toward 90.50.

The Consumer Sentiment Index in the US improved to 86.4  (preliminary) in June from 82.9  in May, the University of Michigan’s latest Surveys of Consumers showed on Friday. This reading came in better than the market expectation of 84 by a wide margin.

Further details of the publication revealed that the Current Economic Conditions Index edged higher to 90.6 from 89.4 and the Consumer Expectations Index rose to 83.8 from 78.8. Finally, the 1-year Inflation Outlook declined to 4% from 4.6%.

Commenting on the report, “the early June gain was mainly among middle and upper-income households and for future economic prospects rather than current conditions,” said Richard Curtin, Surveys of Consumers chief economist.  “Stronger growth in the national economy was anticipated, with an all-time record number of consumers anticipating a net decline in unemployment.”

Market reaction

The US Dollar Index preserves its bullish momentum and was last seen gaining 0.4% on the day at 90.42.