US Consumer Sentiment Falls in July

U.S. consumer sentiment came in slightly below expectations at 93.1, the Survey of Consumers said Friday.

“A disappointing pace of economic growth was the main reason for the small decline in consumer confidence,” Surveys of Consumers Chief Economist Richard Curtin, said in a release.
The July reading was the lowest since May.

“Nonetheless, the data provide no indication of a break in the prevailing positive trend.

Indeed, the Sentiment Index has averaged 94.5 since December 2014, the highest eight month average since 2004. Although one-in-ten consumers, when asked to identify any recent economic developments they had heard, referred negatively to Greece, the Chinese economy, and the Trans-Pacific Partnership on trade, it had virtually no impact on the Sentiment Index.”

via CNBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza