US CB Consumer Confidence Index drops to 104.1 in January
- US CB Consumer Confidence Index declined in January.
- The US Dollar Index consolidates daily gains slightly below 108.00.
Consumer sentiment in the US deteriorated in January, with the Conference Board's (CB) Consumer Confidence Index declining to 104.1 from 109.5 in December.
In this period, the Present Situation Index fell by 9.7 points to 134.3 and the Expectations Index dropped to 83.9.
Assessing the survey's findings, "views of current labor market conditions fell for the first time since September, while assessments of business conditions weakened for the second month in a row," said Dana M. Peterson, Chief Economist at The Conference Board.
"Meanwhile, consumers were also less optimistic about future business conditions and, to a lesser extent, income. The return of pessimism about future employment prospects seen in December was confirmed in January," Peterson added.
Market reaction
The US Dollar Index largely ignored this report and was last seen rising 0.42% on the day at 107.87.
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.
