US UoM consumer confidence rises to 67.8 in August vs. 66.9 expected

• US consumer confidence improved slightly in early August.
• The UoM survey showed that one-year inflation expectations held steady at 2.9%.

US consumer confidence improved slightly in early August, with the University of Michigan’s consumer sentiment index rising to 67.8 from 66.4 in July. This reading was above market expectations of 66.9.

The Current Conditions Index fell to 60.9 from 62.7 and the Consumer Expectations Index rose to 72.1 from 68.8.

The survey details showed that one-year inflation expectations held steady at 2.9 percent, while the five-year inflation outlook was unchanged at 3 percent.

Market reaction

This report failed to spark a noticeable reaction in the US dollar index, which was last seen losing 0.3% on the day at 102.75.