Investing.com – U.S. consumer sentiment unexpectedly fell in April to its lowest level since last September, increasing concern over the state of the world’s largest economy, according to a report published on Friday.
The preliminary publication of the data for April from the University of Michigan's Consumer Survey Center showed that consumer sentiment fell to 89.7, from March’s reading of 91.0.
Analysts had forecast an increase in the reading to 92.0.
The current conditions indicator slipped to 105.4 in April, compared to expectations of 106.0 and the previous month’s reading of 105.6.
Meanwhile consumer expectations also moved lower to 79.6 in April, compared to the estimate of 82.5 and the previous month’s reading of 81.5.
Inflation expectations for the next 12 months remained stable at 2.7%, while the five-year gauge decreased to 2.50%, from the prior 2.70%.
EUR/USD was trading at 1.1302 from around 1.1287 ahead of the release of the data, GBP/USD was at 1.4178 from 1.4175 earlier, while USD/JPY was at 108.75 from 108.90 prior to the publication.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 94.66, compared to 94.77 ahead of the report.
Meanwhile, U.S. stocks continued to move lower. The Dow Jones slipped 23 points, or 0.13%, while the S&P 500 fell 3 points, or 0.15%, and the tech-heavy NASDAQ Composite lost 10 points, or 0.19%.
Elsewhere, in the commodities market, gold futures traded at $1,231.60 a troy ounce, compared to $1,229.40 ahead of the data, while crude oil traded at $40.20 a barrel from $40.26 earlier.