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Today's Focus: US consumer sentiment (Michigan preliminary index)

November 9, 2012

The preliminary estimate of US consumer confidence in November from the University of Michigan (publication at 3.55 pm CET) is the main economic release in the US today. According to the median estimate of 70 analysts in a Bloomberg poll, the corresponding index moved marginally higher to 83 points from 82.6 in October.

Meanwhile, a report issued yesterday by the Department of Commerce in Washington showed that the US trade deficit narrowed to $41.5 bn in September (consensus: -€45 bn, August: revised to -$43.8 bn from -€44.2 bn), the lowest since December 2010, as exports rose 3.1% to a record high of $187 bn (imports of $228.5 bn: +1.5%). Separately, the Department of Labor announced that initial jobless claims fell by 8,000 to 355,000 last week (forecast: 365,000), while continuing claims also slowed, declining 135,000 to 3.127 m in the week ended 3 November (3.257 m).