US dollar dips after drop in consumer sentiment

US dollar slips

Higher inflation and a softer consumer is a bad mix for the US economy.

Consumer sentiment in the University of Michigan survey fell to a 10-year low in November.

The soft sentiment data -- if it flows into consumer spending -- strengthens the Team Transitory case for a return to low inflation.

That's reflected in a blip lower in rate hike expectations and also for weaker US growth. In turn, the dollar is slightly lower.

All that said, I don't believe the UMich survey is a good barometer of anything but political sentiment.

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November 13, 2021 at 03:16AM
Adam Button
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