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- Greenback Turns Green Amid Positive Consumer Sentiment
Greenback Turns Green Amid Positive Consumer Sentiment
It was a busy day again for US investors as they had to pay attention to many US data from the macro calendar. However, it started badly as US retail sales disappointed across the board and decelerated notably. The basic gauge slowed from 0.7% to 0.1%, whilst the control core group moved lower from 0.8% to 0.1% and the ex auto indicator decelerated to 0.3% from 0.9%.
Afterward, industrial production stayed at 0.4% month-on-month, which was slightly positive and capacity utilization ticked higher from 77.9% to 78.1%.
Shortly after, the Michigan consumer sentiment index soared to 14 year highs and printed 100.8, way above 96.2 in the previous month as consumers remain extremely optimistic about the US economy.
The latest number lifted the US dollar higher and it erased all daily losses and turned positive as the broad US dollar index was trading 0.25% higher in the US session.
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