On December 20, 2024, the University of Michigan released Michigan Consumer Sentiment report for December.
The report indicated that Michigan Consumer Sentiment increased from 71.8 in November to 74.0 in December, in line with analyst consensus.
Current Economic Conditions improved from 63.9 in November to 75.1 in December, while Index of Consumer Expectations decreased from 76.9 to 73.3.
Year-ahead inflation expectations increased from 2.6% in November to 2.8% in December. Nevertheless, year-ahead inflation expectations remained within the 2.3% – 3.0% range seen in the two years prior to the pandemic.
Meanwhile, long-run inflation expectations declined from 3.2% in November to 3.0% in December.
The University of Michigan commented: “Broadly speaking, consumers believe that the economy has improved considerably as inflation has slowed, but they do not feel that they are thriving; sentiment is currently about midway between the all-time low reached in June 2022 and pre-pandemic readings.”
U.S. Dollar Index moved towards session lows after the release of Michigan Consumer Sentiment report. Currently, U.S. Dollar Index is trying to settle below the 108.00 level.
Gold Price Forecast
Every new Gold analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all Gold forecastsGold climbed above the $2620 level as traders focused on U.S. dollar’s pullback and falling Treasury yields.
SP500 moved away from session lows and climbed above the 5880 level as traders reacted to consumer sentiment data.
For a look at all of today’s economic events, check out our economic calendar.
