The University of Michigan consumer sentiment for the US was revised higher to 67 in February, the highest since January 2022, from a preliminary of 66.4. The gauge for expectations was revised higher to 64.7 from 62.3 while the current conditions subindex was revised lower to 70.7 from 72.6. Meanwhile, inflation expectations for the year were revised lower to 4.1% from 4.2% in the preliminary estimate and the 5-year outlook was unchanged at 2.9%.
Simultaneously, new home sales for January figures were released.
Sales of new single family houses in the US jumped 7.2% month-over-month to a seasonally adjusted annualized rate of 670K in January, following an upwardly revised 7.2% jump in December. It is the highest reading since March last year, beating market forecasts of 620K.
EURUSD rose slighlty after today’s data releases. The most popular currency pair bounced off daily lows at 1.0535, which is also lowest level since January 6. Source: xStation5
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