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U.S. consumer sentiment index likely to have dropped in September

U.S. consumer sentiment index is likely to have dropped in September. In the prior month, consumer confidence had risen 5.5 points to 133.4. According to a Wells Fargo report, consumer sentiment is likely to have dropped to 130.5 in September.

Consumers usually feel positive about current economic conditions; however, they appear to be slightly worried about the future. Current optimism continues to be a reflection of the tightening labor market, as the share of consumers stating jobs as plentiful was slightly changed, and those who see jobs as hard-to-get dropped 2.1 points.

These dynamics pushed the labor differential up to its highest level since 2001. Expectations also rose in the month of August; however, the overall trend continues to ease and would be an area that would be monitored closely.

Consumers usually expect incomes to increase in the coming six months, while employment conditions are likely to stay fairly stable. The proportion of consumers who believe present business conditions are good reached a cycle high of 40.3 in August; however, those expecting conditions to deteriorate rose to 10.5, the highest level since February 2017.

At 19:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was bullish at 82.5292. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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