The US Dollar came into, the week sticking with a fairly well-defined range. And that range held through the first few days of this week, through a CPI report on Tuesday and a really strong retail sales report yesterday.
On the heels of that retail sales report the Greenback budged above range resistance, and this morning saw another data point prod USD bulls, helping to set a fresh September high in the currency.
This morning’s University of Michigan Consumer sentiment data came out below expectations but above last month’s read. Last month produced a 70.3 marker and this morning brought an expectation for a 72 print. The data came out at 71 so, a bit higher than last month but still inside of expectations.
Inside of the report – inflation expectations edged up to 4.7% from last month’s 4.6% and this is likely what’s catching the attention of USD bulls, along with overall consumer expectations, which printed at 67.1 versus last month’s 65.1
