News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • The BOC's rate decision today proved as hawkish as forecasts insinuate. Most interesting pair for this was $GBPCAD where it is hawkish expectation vs hawkish expectation https://t.co/yh3fDNYiKZ
  • WTI continues to retreat, down over 2.5% on the day and currently trading just north of $82 $CL_F https://t.co/GmtrXNH1Hf
  • USD strength present throughout the NY session, but the US Dollar Index continues to find stiff resistance at the 94 level $USD $DXY https://t.co/nZFjtFbG4O
  • Euro is down more than 0.2% against the US Dollar since the start of the week with EUR/USD trading just above support heading into the European Central Bank interest rate decision tomorrow. Get your $EURUSD market update from @MBForex here:https://t.co/a9tikztYFj https://t.co/uztfGSoYvW
  • Nasdaq 100 is not sure whether it wants to close at a record high, but the NDX-SPX ratio has jumped sharply today on the tech index's 0.9% rally https://t.co/fUMvv9mtZ8
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.33% Silver: 0.05% Oil - US Crude: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/1qRqMHuB6V
  • The recent AUD/JPY rally appears to be stalling below 86.000, with the pair relatively flat on the session $AUDJPY https://t.co/xfNKmmhJdq
  • #Euro Technical Forecast: $EURUSD Pressured into #ECB- Breakout Levels - https://t.co/RG2nfQrqsF https://t.co/ceYY2Dk1Eo
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.05%, while traders in USD/JPY are at opposite extremes with 73.98%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/j6NdfK7lpf
  • A day full of meetings and I've always had one eye fixed on this $GOOG rally. Last nights afterhours reticence didn't do this stock (and MSFT) justice. Impressive https://t.co/tEwaqSt5lm
University of Michigan Consumer Sentiment Index Misses Estimates

University of Michigan Consumer Sentiment Index Misses Estimates

Thomas Westwater, Analyst

UNIVERSITY OF MICHIGAN CONSUMER SENTIMENT - TALKING POINTS:

  • UofM Consumer sentiment misses estimates coming in at 96.9 vs estimates of 98.2
  • The index is still well off its 2 year low in January
  • Consumer sentiment remains at historically high levels compared to previous decades

The University of Michigan preliminary reading on consumer sentiment came in at 96.9 this morning, missing estimates of 98.2. The miss on estimates is largely insignificant as the index remains near historically high levels following years of economic expansion resulting in a healthy environment for American consumers.

The Michigan data saw consumers seeing less of an impact from last years tax cuts which could be indicating that its impact on the economy did not flow down into households as well as some thought. Consumers are also still concerned with home prices which could continue to predict trouble for the home market as home sales have seen some hiccups early this year.

University of Michigan Consumer Sentiment March 2019 Price Chart

The market largely shrugged off the miss with the S&P 500 up over half a percent, thanks to a strong start to earnings season with JP Morgan posting record profits and revenue. However, with consumer spending making up over 70% of the American economy, investors will continue to closely follow this metric, as the economy nears a point many consider to be the peak, or near the peak, of this economic expansion cycle.

SPX S&P500 Price Chart in response to UofMich March 2019 Consumer Sentiment Data

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES