The University of Michigan Consumer Confidence Index for May in the United States has come out.
The data exceeded my personal expectations. Compared with the previous value and the expectation, the published value is 69.1, indicating that among the 500-600 adults randomly surveyed, confidence in future consumption is strong.
Combined with Thursday's PMI index, it once again emphasizes that the current strength of the US economy is good for the US dollar index, good for US stocks, and bad for the crypto market and the gold and silver market.
At the same time, the data of the respondents in the survey on US inflation in the next year was also released. The data was 3.3, lower than the expected 3.4, and lower than the previous value of 3.5, indicating that the respondents believed that future inflation in the United States can be effectively controlled. It is helpful to optimistic about the expectation of interest rate cuts, but the influence is small.
We look at the basic impact of the market, regardless of the US stock market, the US dollar index, or the US bond, including the crypto market.
For the rest of this month, the US data that can have a greater impact on the market is the PCE data next Friday.
The current expectation of interest rate cuts has reached December. Whether the PCE next week can change the current expectations will also determine how the risk market is affected by major macro factors.
