• UoM’s headlines Consumer Sentiment Index came in a tad lower than the flash estimate, but still much higher than last month. 
  • FX markets did not react to the latest UoM data, which was close to expectations. 

According to the final version of the University of Michigan’s (UoM) Consumer Sentiment survey, the headline Consumer Sentiment Index for April came in at 65.2, a tad below the flash estimate released earlier in the month of 65.7. That meant the headline index remained well above March’s reading of 59.4, the worst level in over a decade. 

The UoM’s Consumer Expectations Index came in at to 62.5, a little below the flash estimate of 64.1, but, again, well above last month’s reading of 54.3. The Current Conditions Index came in at 69.4, which was better than the flash estimate of 67.8 and better than last month’s 68.1 reading. 

UoM’s gauge of one-year inflation expectations remained unchanged versus the flash estimate at 5.4%, while the gauge for five-year inflation expectations was also unchanged versus the flash estimate at 3.0%. 

Market Reaction

FX markets did not react to the latest UoM data, which was close to expectations. 

This article was originally published by Fxstreet.com.Read the original article here.

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