Consumer confidence in the US improved slightly at the start of the year, with the University of Michigan’s consumer sentiment index rising to 54 in the preliminary reading for January, up from 52.9 in December. This came in slightly better than the print market expectation of 53.5.
The consumer expectations index rose from 54.6 to 55 over the period, while 1-year consumer inflation expectations remained unchanged at 4.2%. Finally, 5-year consumer inflation expectations rose to 3.4% from 3.2%.
market reaction
The US dollar index rose after the report and is trading at its highest level in a month at 99.25, up 0.4% on the day.
