Secret Insights
- Customer Sentiment increased from 79 in January to 79.6 in February.
- Existing Economic Conditions reduced from 81.9 to 81.5.
- Year-ahead inflation expectations increased from 2.9% to 3.0%.
On February 16, 2024, the Universtity of Michigan launched Michigan Consumer Sentiment report for February.
The report showed that Consumer Sentiment enhanced from 79 in January to 79.6 in February, compared to expert agreement of 80.
Existing Economic Conditions decreased from 81.9 in January to 81.5 in February, while Index of Consumer Expectations increased from 77.1 to 78.4.
Year-ahead inflation expectations increased from 2.9% to 3.0%, while long-run inflation expectations stayed at 2.9% for the 3rd successive month.
The University of Michigan commented: “The reality that belief lost no ground this month recommends that customers continue to feel more guaranteed about the economy, verifying the substantial enhancements in December and January throughout numerous elements of the economy,”
U.S. Dollar Index drew back listed below the 104.50 level after the release of the report, which missed out on expert quotes. Treasury yields are moving greater, however forex traders remain mindful ahead of the weekend.
Gold settled near the $2000 level as traders responded to the Michigan Consumer Sentiment report. Increasing Treasury yields did not put pressure on gold markets in today’s trading session.
SP500 made an effort to settle listed below the 5000 level as traders took some earnings off the table near historical highs.
For a take a look at all of today’s financial occasions, take a look at our financial calendar