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  • Consumer confidence in the US deteriorated in November.
  •  USD shows no significant reaction to this data.

The Consumer Sentiment Index in the US declined from 81.8 in October to 76.9 (final) in November, the University of Michigan’s latest Surveys of Consumers showed on Wednesday. This reading came in lower than the market expectation and the previous estimate of 77.

Further details of the publication revealed that the Current Economic Conditions Index edged higher to 87 from 85.9 and the Index of Consumer Expectations fell to 70.5 from 79.2.

Commenting on the data, “the approval of vaccines will heighten concerns about vaccination priorities, especially when accompanied by the expected increase in deaths in the next several months,” said Surveys of Consumers chief economist, Richard Curtin. “These events are likely to promote more closures and stay-at-home orders in addition to mandatory masks and social distancing.”

Market reaction

The US Dollar Index stays in the negative territory near 92.10 after the data. 

Expert score

5

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