Access both platforms from your single Saxo account.
A first glance at the US shutdown's economic impact
Christopher Dembik
Head of Macro Analysis
Summary: The University of Michigan Index is one of the key data releases unaffected by the US government shutdown, and the latest results point to a US economy dealing with multiple bearish factors.
The University of Michigan Index is out. Due to the partial government shutdown, it is one of the few glimpses that investors can have about the state of the US economy and consumer sentiment at the beginning of the year. As widely expected, the last update is ugly. The consumer index fell to 90.7 in January versus 98.3 in December, well below the consensus of 96.8. The index was affected by a combination of negative factors: the shutdown, financial market turmoil, higher tariffs and the global economic slowdown.
Despite this sharp drop, it remains at a very elevated level which is consistent with well-oriented spending growth in coming months. It is likely that the Conference Board Consumer confidence index that is expected to be released on January 29 will follow the same downward trend.
Despite this sharp drop, it remains at a very elevated level which is consistent with well-oriented spending growth in coming months. It is likely that the Conference Board Consumer confidence index that is expected to be released on January 29 will follow the same downward trend.
Disclaimer
The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.
Please read our disclaimers:
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
- Full disclaimer (https://www.home.saxo/en-gb/legal/disclaimer/saxo-disclaimer)