US: CB Consumer Confidence declines to 107.1 in January

Consumer confidence in the US weakened modestly in January.
US Dollar Index posts small daily gains above 102.30 after the data.

Eren Sengezer FXStreet

Consumer sentiment in the US deteriorated modestly in January with the Conference Board's Consumer Confidence Index declining to 107.1 from 109.0 in December. This reading came in below the Reuters estimate of 109.0.

Further details of the publication revealed that the Jobs Hard-to-Get Index edged lower to 11.3 from 11.9 and the one-year consumer inflation rate expectations rose to 6.8% from 6.6% in December.

Market reaction

US Dollar Index gained traction with the initial reaction and was last seen posting small daily gains at 102.35.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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