Consumer confidence in US continued to weaken in January. S&P 500 remains on the back foot after the report. The Consumer Sentiment Index in the US fell to 79.2 in January from 80.7 in December, the University of Michigan’s latest Surveys of Consumers showed on Friday. This reading came in lower than the market expectation of 80. Further details of the publication revealed that the Current Economic Conditions Index declined to 87.7 from 90 and the Index of Consumer Expectations edged lower to 73.8 from 74.6. Commenting on the report, “consumer sentiment posted trivial declines in early January despite the horrendous rise in covid-19 deaths, the insurrection, and the impeachment of Trump,” said Surveys of Consumers chief economist, Richard Curtin. “Two offsetting shifts helped narrow the January loss in sentiment: the covid-19 vaccines and a partisan shift in expectations due to the anticipated impact of Biden’s economic policies.” Market reaction This market mood remains sour after this report. As of writing, the S&P 500 Index was last seen losing 0.55% on the day at 3,775. 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 Silver prices slide below $25 amid strong dollar and risk off market vibe FX Street 2 years Consumer confidence in US continued to weaken in January. S&P 500 remains on the back foot after the report. The Consumer Sentiment Index in the US fell to 79.2 in January from 80.7 in December, the University of Michigan's latest Surveys of Consumers showed on Friday. This reading came in lower than the market expectation of 80. Further details of the publication revealed that the Current Economic Conditions Index declined to 87.7 from 90 and the Index of Consumer Expectations edged lower to 73.8 from 74.6. Commenting on the report, "consumer sentiment posted trivial declines in early January despite the… 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.
