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  • Consumer confidence in the US continued to rise in September.
  • US Dollar Index clings to modest daily gains below 94.00 after the data.

The University of Michigan’s Survey of Consumers revealed that the Index of Consumer Sentiment rose from 74.1 in August to 80.4 in September. This reading came in better than the previous estimate and the market expectation of 78.9 and 79, respectively.

Further details of the publication revealed that the Current Economic Conditions Index edged higher to 87.8 from 82.9 and the Index of Consumer Expectations improved to 75.6 from 68.5.

Commenting on the data,  “the gains were mainly due to a more optimistic outlook for the national economy,” said Surveys of Consumers chief economist, Richard Curtin. “While consumers have anticipated gains in the national economy ever since the April shutdown, the September survey recorded a significant increase in the proportion that expected a reestablishment of good times financially in the overall economy.”

Market reaction 

The US Dollar Index showed no immediate reaction to this data and was last seen gaining 0.1% on the day at 93.81.