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
Gold returns to the $5,000 mark as Bitcoin prices weaken to hit new lows; what is the future outlook?During the Asian session on Wednesday (February 4), gold ( XAUUSD) prices continued to
Gold (XAU/USD) attracts follow-through buying for the second consecutive day and surges past the $5,000 psychological mark during the Asian session on Wednesday amid the global flight to safety.
Where is the Bitcoin bottom? Can you buy the dip now? Cathie Wood suggests swapping gold for Bitcoin.On Tuesday (February 3), panic in the crypto market eased as Bitcoin ( BTC) prices reb
Bitcoin’s two-year rolling MVRV z-score has dropped to its lowest level ever, pointing to extreme undervaluation.
Crypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.
