Investing.com –U.S. consumer sentiment rose less than expected in August, though the expectations gauge showed that consumers were more optimistic than forecast, according to a report published on Friday.
The preliminary publication of the data for August from the University of Michigan's Consumer Survey Center showed that consumer sentiment rose to 90.4, from July’s reading of 90.0.
Analysts had forecast a larger increase to 91.5.
The current conditions indicator fell to 106.1 in August.
Analysts had expected it to remain unchanged from July’s reading of 109.00.
Meanwhile consumer expectations moved higher to 80.3 in August, compared to the consensus estimate of 78.1 and the previous month’s reading of 77.8.
Inflation expectations for the next 12 months dropped to 2.5% from July’s reading of 2.7%, while the five-year gauge remained stable at 2.60%.
After the report, EUR/USD was trading at 1.1195 from around 1.1188 ahead of the release of the data, GBP/USD was at 1.2970 from 1.2967 earlier, while USD/JPY was at 101.03 from 101.10 prior to the publication.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 95.39, compared to 95.41 ahead of the report.
Meanwhile, U.S. stocks traded lower. The Dow Jones lost 19 points, or 0.10%, while the S&P 500 traded down 2 points, or 0.11%, and the tech-heavy Nasdaq Composite fell 9 points, or 0.18%.
Elsewhere, in the commodities market, gold futures traded at $1,358.45 a troy ounce, compared to $1,358.55 ahead of the data, while crude oil traded at $43.82 a barrel from $43.97 earlier.