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American consumers are feeling less comfortable

American consumers are feeling less comfortable | 18 September 2023

18 September 2023, USD/JPY

American consumers are feeling less comfortable

USDJPY trading plan:

U.S. consumer sentiment edged lower for a second straight month in September but their economic outlook brightened modestly as household expectations for near-term inflation fell to the lowest in more than a year, a survey released showed. The University of Michigan's preliminary reading of its Consumer Sentiment Index dropped to 67.7 this month from a final reading of 69.5 in August. The survey's barometer of current economic conditions fell, but its gauge of consumer expectations edged higher. Both short-run and long-run expectations for economic conditions improved modestly this month, though on net consumers remain relatively tentative about the trajectory of the economy. This is moderately negative news for the US dollar.

Investment idea: range 147.20 -148.50.

David Johnson
Analyst of «FreshForex» company
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