The University of Michigan US consumer sentiment report came in at 98.4 beating the consensus expectations for a 98.3 reading, a slight improvement from 98.2 in last month’s final reading.
EURUSD gives up 5 pips on the news, the pair is trading at 1.1228 while the USDJPY trading at 107.66 adding about 5 pips. The USD index (DXY) is 0.38 percent higher at 97.06 without any reaction on the news.
The story here gets very complicated after recent tweets from President Trump:
“like New York Fed President John Williams first statement much better than his second. His first statement is 100% correct in that the Fed “raised” far too fast & too early. Also must stop with the crazy quantitative tightening. We are in a World competition, & winning big,…
…but it is no thanks to the Federal Reserve. Had they not acted so fast and “so much,” we would be doing even better than we are doing right now. This is our chance to build unparalleled wealth and success for the U.S., GROWTH, which would greatly reduce % debt. Don’t blow it!”
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