UMich consumer sentiment coming up next but watch out for the Atlanta Fed GDPNow update

I have been dogging the UMich consumer sentiment survey and its political skews for 15 years. Now all the sudden the rest of the world seems to have caught on and the report is seen as filler.

Still, I’m curious to see the direction of sentiment as this one tanked early and presumably could start to bottom first. The consensus today on the final reading is 57.9, which is no change from the prelim data.

One update I will be watching for is the latest Atlanta Fed GDPNow reading. It’s currently at -1.8% but removing gold from trade boosts that by 2 percentage points. This update includes yesterday’s advance trade numbers and today’s PCE report.

This article was written by Adam Button at www.forexlive.com.