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US: Consumer Sentiment falls to 68.8 in early January versus 70.0 expected, according to UoM

Article
FXStreet in Market News 12 196426
January 14, 2022 23:09

content provided with permission by FXStreet

  • The preliminary UoM Consumer Sentiment Index fell more than expected to 68.8 in January. 
  • There was no meaningful FX market reaction to the latest report.   

According to the University of Michigan’s (UoM) preliminary January US Consumer Sentiment survey, the Consumer Sentiment Index fell to 68.8 in January from 70.6 in December, below expectations for a 70.0 reading. Meanwhile, UoM’s Current Conditions Index fell to 73.2 from 74.2 in December, a tad below expectations for a drop to 73.3. The Consumer Expectations Index fell to 65.9 from 68.3 last month, also below expectations for 66.5. Finally, one-year inflation expectations according to the survey rose to 4.9%, this highest since 2008, and five-year inflation expectations rose to 3.1%, the highest since the early 90s. 

Market Reaction

There was no meaningful FX market reaction to the latest UoM survey data.