US Mar Reuters/Michigan Consumer Sentiment Index declines to 71.8 vs 77.6 in Feb.
Mar 15, 2013
American equity markets fall as inflation rises to 2%
The US Stock market lower opening Friday as several US inflationary indicators were reported that were generally in line with expectations. In the US, the Consumer Price Index (YoY) rose +2.0% in February, which equaled projections. Moreover, the Consumer Price Index ex-food and energy reported a growth of +2.0% in February as well, which matched a consensus. Finally, Industrial Production (MoM) experienced a rise of +0.7% in February, against expectations of only +0.4%.
After briefly rising above the 1.3100 mark, the EUR/USD came under selling pressure and retreated back below the 1.3075 level, as downbeat US consumer confidence data offset positive readings from industrial production.