US: CB Consumer Confidence Index improves to 131.6 in January from 128.2

CB Consumer Confidence Index rises to 131.6 January.
US Dollar Index looks to close above 98 for first time since early December.

Eren Sengezer FXStreet

Consumer confidence in the US improved in January with the Conference Board's Consumer Confidence Index rising to 131.6 from 128.2 in December (revised from 126.5). Further details of the publication showed that the Present Situation Index rose to 175.3 from 170.5.

Commenting on the data, “consumer confidence increased in January, following a moderate advance in December, driven primarily by a more positive assessment of the current job market and increased optimism about future job prospects," said Lynn Franco, Director of Economic Indicators at The Conference Board.

USD reaction

The US Dollar Index ticked higher on the upbeat data and was last up 0.2% on the day at 98.13.

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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