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.

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.