September U.S. consumer confidence fell to 48.5 from 53.2 – it’s the lowest reading in seven months. It suggests U.S. shoppers may continue to slow spending. Economists were expecting a reading of 52.1. Among 75 economists survey, the lowest estimate was 48.0. The ‘expectations’ for the future category also fell to the lowest since February as it dropped to 65.4 from 72.0. Measures of income expectations and jobs also fell. Risk aversion has surged since the release of the data. Stock markets fell sharply, while the yen and Swiss franc rallied. The USD reaction has been uneven. Weak data makes Fed quantitative easing more likely and that’s a negative for the dollar. On the other hand, risk aversion helps to boost USD.