Today’s data showed that the University of Michigan’s Consumer Sentiment Index fell 1.5 points in October. According to analysts from Wells Fargo, the reading of 98.6 may in part be a reflection of recent stock market volatility and higher gasoline prices. Key Quotes: “Despite the lower reading, October sentiment remains at an elevated level relative to the rest of the current cycle. Recent volatility in the stock market likely contributed to the slide in sentiment, as consumers’ assessment of their current financial situation fell 5 points over the month. The 4-point decline in consumers’ expected financial situation, moreover, may signal a deeper level of caution.” “Consumers now expect inflation to be 2.9% next year, up from 2.7% in September. This may partially be due to higher gasoline prices. Adding to the cost, are higher interest rates; expected buying conditions for homes, vehicles and durables all fell in October. The continued slide in the good time to buy a home measure matches the moderation in home sales, and is largely being driven by higher mortgage rates.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next China: Yuan exchange rate likely to maintain a weak trend in the coming months – BBVA FX Street 4 years Today's data showed that the University of Michigan's Consumer Sentiment Index fell 1.5 points in October. According to analysts from Wells Fargo, the reading of 98.6 may in part be a reflection of recent stock market volatility and higher gasoline prices. Key Quotes: "Despite the lower reading, October sentiment remains at an elevated level relative to the rest of the current cycle. Recent volatility in the stock market likely contributed to the slide in sentiment, as consumers' assessment of their current financial situation fell 5 points over the month. The 4-point decline in consumers' expected financial situation, moreover, may… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
