Consumer confidence in US continued to deteriorate in July. US Dollar Index clings to modest recovery gains above 93.00. The University of Michigan’s Survey of Consumers revealed that the Index of Consumer Sentiment worsened to 72.5 (final) in July from 78.1 in June. This reading came in lower than the previous estimate of 73.2 and missed the market expectation of 73. Further details of the publication revealed that the Current Economic Conditions Index dropped to 82.8 from 87.1 and the Index of Consumer Expectations edged lower to 65.9 from 72.3. Commenting on the data, “consumer sentiment sank further in late July due to the continued resurgence of the coronavirus,” said Surveys of Consumers chief economist, Richard Curtin. “The federal relief programs have prevented more substantial declines in consumer finances, partially shielding consumers from the unprecedented surge in job losses, reduced work hours, and salary cuts.” Market reaction The US Dollar Index retreated slightly from session highs after this data and was last seen gaining 0.13% on the day at 93.09. 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 NZD/USD Price Analysis: Flirts with session low, holds above 1-month old ascending trend-line FX Street 3 years Consumer confidence in US continued to deteriorate in July. US Dollar Index clings to modest recovery gains above 93.00. The University of Michigan's Survey of Consumers revealed that the Index of Consumer Sentiment worsened to 72.5 (final) in July from 78.1 in June. This reading came in lower than the previous estimate of 73.2 and missed the market expectation of 73. Further details of the publication revealed that the Current Economic Conditions Index dropped to 82.8 from 87.1 and the Index of Consumer Expectations edged lower to 65.9 from 72.3. Commenting on the data, "consumer sentiment sank further in late July due to 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.
