The USD was supported by strong numbers. Overview for 23.12.2019
On Monday morning, the major currency pair is trying to correct after last Friday’s decline, but market players are very cautious.
EURUSD is growing a little bit on Monday morning. The current quote for the instrument is 1.1084.
Reports published last Friday turned out to be very positive for the American currency. First of all, it’s the final GDP reading in the third quarter of 2019, which showed the same 2.1% q/q as expected without any surprise.
The Personal Income showed +0.5% m/m in November after adding 0.1% m/m in the previous month and against the expected reading of +0.3% m/m. The Personal Spending, in its turn, was +0.4% m/m after being +0.3% m/m the month before. Improvement of both these indicators is very positive for the country’s economy in general and the Retail Sales index, which may be affected by them and skyrocket.
The Revised University of Michigan Consumer Sentiment increased up to 99.3 points in December, which is the highest reading since this May. By the way, in November the indicator was 96.8 points, while the expected reading was 99.2 points. The components of the report show that the Current Conditions went from 111.6 points in November to 115.5 points this month, while the Consumer Expectations increased from 87.3 points to 88.9 points over the same period of time.
The Inflation Expectations reduced to 2.3%, the lowest reading over three years.