Consumer sentiment according to the University of Michigan is again heading downwards. For January, the sentiment index falls to 68.8 points against an expectation of 70 points and the previous level of 70.6 points. Rising prices and uncertainty about the coronavirus are responsible for the low sentiment. Inflation expectations for the 1-year outlook point to 4.9%, compared to 4.8%.
Daily summary: Gold retreats 3% as US dollar rebounds after hawkish Warsh speech in Jackson Hole
🚩 EURUSD loses 0.3%
🗽 Fed chair, Kevin Warsh speech from Jackson Hole
Economic Calendar: All eyes on Kevin Warsh! Will Fed Chair protect his credibility?