UoM data shows consumer confidence in US improved modestly in May. US Dollar Index stays in the negative territory above 98.00. The University of Michigan’s Survey of Consumers revealed that the Index of Consumer Sentiment edged higher to 72.3 (final) in May from 71.8 in April. This reading came in lower than the previous estimate of 73.7 and missed the market expectation of 74. Further details of the publication revealed that the Current Economic Conditions Index rose to 82.3 from 74.3 and the Index of Consumer Expectations dropped to 65.9 from 70.1. Commenting on the data, “it should not be surprising that a growing number of consumers expected the economy to improve from its recent standstill, or that the majority still thought conditions in the economy would remain unfavorable in the year ahead,” said Surveys of Consumers chief economist, Richard Curtin. Market reaction The US Dollar Index showed no reaction to this data and was last down 0.28% on the day at 98.20. 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 USD/CHF Price Analysis: Finds some support near 0.9600 mark, only for the time being FX Street 3 years UoM data shows consumer confidence in US improved modestly in May. US Dollar Index stays in the negative territory above 98.00. The University of Michigan's Survey of Consumers revealed that the Index of Consumer Sentiment edged higher to 72.3 (final) in May from 71.8 in April. This reading came in lower than the previous estimate of 73.7 and missed the market expectation of 74. Further details of the publication revealed that the Current Economic Conditions Index rose to 82.3 from 74.3 and the Index of Consumer Expectations dropped to 65.9 from 70.1. Commenting on the data, "it should not be surprising that… 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.
