US Dollar Steady as Consumer Sentiment Falls to 11-year Lows

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US Dollar Outlook:

  • The preliminary February US Michigan shopper sentiment survey missed expectations significantly, falling to its lowest studying since November 2011.
  • Inflation expectations stay tilted greater, each for the 1-year forward and 5-year forward readings.
  • According to the IG Client Sentiment Index, the foremost USD-pairs collectively have a blended bias on the finish of the week.

Big Miss, Multi-Year Lows

The US Dollar (by way of the DXY Index) holding regular following a disappointing spherical of US shopper confidence figures. The preliminary February US Michigan shopper sentiment survey missed expectations significantly, falling to its lowest studying since November 2011. Rising fuel costs and usually excessive inflation pressures are weighing on customers, despite the fact that wage development for the bottom tercile stays constructive in actual phrases.

The knowledge might show to be much less of an issue for monetary markets and extra for the Biden administration has the calendar creeps nearer to the US Congressional midterm elections this fall.

Here are the information driving the US Dollar this morning:

  • USD Michigan Consumer Sentiment (FEB P): 61.7 precise vs 67.5 anticipated, from 67.2
  • USD Michigan Consumer Expectations (FEB P): 57.4 precise, from 64.1
  • USD Michigan Current Conditions (FEB P): 68.5 precise vs 73 anticipated, from 72
  • USD Michigan Inflation Expectations (FEB P): 5% precise, from 4.9%
  • USD Michigan 5 Year Inflation Expectations (FEB P): 3.1% precise, from 3.1%

See the DailyFX Economic Calendar for Friday, February 11, 2022.


Following the sentiment survey, the US Dollar continued to commerce sideways because it had been across the US money fairness open. Overall, the DXY Index is up round +0.03% on the session, taking a breather after yesterday’s features on the again of the sharp rise in short-end US Treasury yields; the 2-year yield has notched its largest single-day acquire in 12 years.

— Written by Christopher Vecchio, CFA, Senior Strategist

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