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US UoM Consumer Confidence Index declines to 63 in October vs. 67.4 expected – Crypto News
- UoM Consumer Confidence Index declined further in September.
- US Dollar Index clings to modest daily gains above 106.50.
Consumer sentiment in the US continued to weaken in October, with the University of Michigan’s (UoM) Consumer Confidence Index declining to 63 from 68.1 in September. This reading fell short of the market expectation of 67.4.
Further details of the publication revealed that the Current Conditions Index fell to 66.7 from 71.4 and the Expectations Index retreated to 60.7 from 66.9.
The one-year inflation outlook jumped to 3.8 from 3.2, while the 5-year inflation outlook rose to 3% from 2.8%.
Market reaction
The US Dollar Index edged slightly higher after this report and was last seen posting small daily gains at 106.62.
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