Daily digest market movers: Dollar down after mixed UoM data and soft housing market figures
- The University of Michigan's Consumer Sentiment Index recorded an improved figure of 67.8 for early August, rising from July's 66.4. It also outperformed the market expectation of 66.9.
- Following a decrease to 60.9 from 62.7, the Current Conditions Index illustrated a decline, while the Consumer Expectations Index registered an increase to 72.1 from 68.8.
- In contrast, Housing Starts in the US recorded a decline of 6.8% in July, down to 1.238 million units, signaling a softened housing market.
- Additionally, Building Permits decreased by 4% after a rise of 3.9% in June.
- Markets remain overconfident that the Fed will rush to cut, but it will all depend on incoming data.
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