Data released by the University of Michigan a few moments ago showed a deterioration in the preliminary reading of US consumer confidence for the month of November to 66.8 points, compared to 71.7 in October, while expectations indicated a rise to 72.5, the lowest reading of the index since November 2011.

This reading of consumer confidence came from the rising fears of consumers of rising inflation rates, as the current conditions index fell to 73.2 from 77.7, while the expectations index declined to 62.8 compared to 70.5 in the October reading.

The preliminary reading of inflation expectations rose to 4.9%, compared to 4.8% in October, to reflect the extent of fears of continued rises in inflation in the United States of America.

The US dollar continues to rise for the third week in a row, as the general index of the US dollar, which measures the performance of the dollar against a basket of currencies (Dollar Index), is heading to close the week with gains of more than 0.90%, trading at 95.10 levels, taking advantage of the high expectations that the date for raising US interest rates will be in Next year, not in 2023, as the US Federal Reserve sees it.

The euro against the dollar was one of the most affected during the week, as it fell by more than 115 points, trading moments before closing at 1.1445 levels.