Another beat in US economic indicators: The UoM consumer sentiment rose to 94.6 points, above expectations. The current conditions figure jumps from 100.8 to 106.8 points. The expectations component is up from 84.2 to 86.8 points.
The dollar is marginally higher.
The University of Michigan’s consumer confidence measure for June was expected to stand at 91.3 points in the preliminary read for June, up from an upwards revised 90.7 points in May.
Here is the preview: trading the consumer sentiment with EUR/USD.
Consumer sentiment is considered a leading indicator for consumer spending, but the correlation is not often that strong. In May, retail sales advanced 1.2%.
This is the last data point for this week and next week we have the all important Fed decision.
In our latest podcast, we bring you up to speed with the Fed decision and the USD impact, and also tackle the Greek crisis from two different angles.
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