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  • Consumer confidence in the US improved at a stronger pace than expected in September. 
  • US Dollar Index registers modest daily gains near 93.00 after the data.

The Consumer Sentiment Index in the US rose from 74.1 in August to 78.9 (preliminary) in September, the University of Michigan’s latest Surveys of Consumers showed on Friday. This reading came in better than the market expectation of 75.

Further details of the publication showed that the Current Economic Conditions Index rose to 87.5 from 82.9 and the Index of Consumer Expectations edged higher to 73.3 from 68.5.

Commenting on the data, “consumer sentiment improved in early September, reaching the top of the range it has travelled since April,” said Richard Curtin, Surveys of Consumers chief economist. “While the recent gain was consistent with an unchanged flat trend, the data indicated that the election has begun to have an impact on expectations about future economic prospects.”

Market reaction

The US Dollar Index edged slightly higher after the data and was last seen gaining 0.1% on the day at 93.00.