Consumer confidence in the US continued to deteriorate in April, with the University of Michigan's (UoM) Consumer Sentiment Index dropping to 50.8 in the flash estimate from 57 in March. This reading came in worse than the market expectation of 54.5.

The underlying details of the report showed that the Current Conditions Index fell to 56.5 from 63.8 in the same period, while the Consumers Expectations Index worsened to 47.2 from 52.6.

The one-year inflation outlook component of the survey jumped to 6.7% from 5%, and the five-year inflation outlook edged higher to 4.4% from 4.1%.

Source: Fxstreet