The Consumer Sentiment came in at 64.6 vs an estimate of 70 and lower than 70.8 last month. The Economic Condition index came in at 70.4 vs 73.2 last month and the Economic Outlook fell to 60.9 from 69.2 last month. Inflation expectations 1 year forward came in at 3.0% vs 3.1% last month.
Overall, the report is weak and suggest the consumer is starting to feel more pressure as employment continues to be an issue and balance sheet rebuilding will take longer than expectations.
The dollar has gotten stronger after the report on flight to quality flows. The USDJPY has declined as has the Yen crosses as short term traders exit the riskier trades.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment