Consumers were slightly more upbeat in November, at least according to the preliminary read from UoM. The Current Conditions index rose from 103.2 to 105.9. The Expectations number jumped from 76.8 to 82.5. The data does not necessarily consist of the election results. The final number will already reflect the sentiment of Americans after Trump’s Triumph. Inflation expectations are slightly higher, at 2.7%. This might continue rising with the current expectations for fiscal stimulus.
The US dollar is marginally stronger in the immediate aftermath.
The University of Michigan’s consumer sentiment was expected to rise to 87.5 in the preliminary read for November after 87.2 in the final read for October. This is the first significant economic indicator published after the elections. Economic data was relatively light but the next week is already busier.
The US dollar was quite mixed 3 days after the historic election of Trump that created huge volatility in markets. The greenback was beating the euro, sending EUR/USD to support, while losing out to the pound, that remembered its own Super Thursday. USD/JPY cooled after reaching new highs.
See our preview: trading the consumer sentiment with EUR/USD
