- Consumer confidence in the US improved modestly in October.
- US Dollar Index largely ignored this data and stays in red near 93.80.
The Consumer Sentiment Index in the US rose from 80.4 in September 81.8 (final) in October, the University of Michigan’s latest Surveys of Consumers showed on Friday. This reading came in better than the market expectation and the previous estimate of 81.2.
Further details of the publication revealed that the Current Economic Conditions Index edged lower to 85.9 from 87.8 and the Index of Consumer Expectations improved to 79.2 from 75.6.
Commenting on the data, “fears were generated by rising covid infection and death rates, and loathing was generated by the hyper-partisanship that has driven the election to ideological extremes,” said Surveys of Consumers chief economist, Richard Curtin. “Moreover, the impact of the covid virus and the extremes of hyper-partisanship will continue long past next week’s election, with the potential to permanently alter the economic and political landscape.”
Market reaction
The US Dollar Index showed no immediate reaction to this data and was last seen losing 0.15% on the day at 93.80.
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