US CB Consumer Confidence Index rises to a two-year high of 114.8 in January
Source Fxstreet
- US CB Consumer Confidence Index continued to rise in January.
- US Dollar Index clings to small daily gains above 103.50.
Consumer sentiment in the US continued to improve in January, with the Conference Board's Consumer Confidence Index rising to its highest level since December 2021 at 114.8 from 108.0 (revised from 110.7) in December.
Further details of the publication showed that the Present Situation Index rose sharply to 161.3 from 147.2 and the Expectations Index advanced to 83.8 from 81.9.
Finally, the one-year consumer inflation rate expectation edged lower to 5.2%, marking the lowest reading since March 2020.
Market reaction
The US Dollar Index edged higher after the data and was last seen gaining 0.1% on the day at 103.60.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin experiences significant volatility, dropping toward $87,000 ahead of a crucial Federal Reserve interest-rate decision.
EMJ Capital CEO Eric Jackson predicts Bitcoin could hit $50 million by 2041, arguing it will replace the Eurodollar system as the neutral collateral layer for global sovereign debt.
Gold Price Forecast: XAU/USD edges lower below $4,200 amid worries about hawkish Fed rate cutGold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Gold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
As institutional inflows into Bitcoin ETFs accelerate, active on-chain addresses are sliding, signaling a shift where investors prefer Wall Street wrappers over self-custody.
Michael Saylor and Strategy are heavily investing in Bitcoin, adding 10,624 more BTC to their already significant holdings, despite a tough year for their stock.
