Better than expected consumer confidence in the US provides hope for a positive shopping season come Black Friday. Consumer confidence stands at 93.1 points, better than expected. Also conditions at 104.8 and expectations at 85.6 are ahead of predictions. US inventories are up 0.3%, also beating predictions.
The US dollar is advancing, with EUR/USD falling to new lows under 1.0720. Also the Canadian dollar is showing weakness with USD/CAD at fresh highs of 1.3340.
The University of Michigan / Reuters consumer sentiment measure for November was expected to show 91.5 points, up from 90 – the final number in October.
The US dollar was doing OK despite the disappointing retail sales report published earlier.
EUR/USD was showing us weakness trading at 1.0737 before the publication.
Among the components, conditions were predicted to advance from 102.3 to 103 and expectations from 82.1 to 84.
Business inventories, a separate release, carried expectations for remaining flat for a second month in a row.
