US: CB Consumer Confidence Index improves modestly to 89.3 in January

• CB Consumer Confidence Index in US rose in January.
• US Dollar Index edges lower toward 90.00 after the data.

Consumer confidence in the US improved modestly in January with the Conference Board's Consumer Confidence Index rising to 89.3 from 87.1 (revised from 88.6) in December. This reading came in slightly better than the Reuters' estimate of 89.

Further details of the publication showed that the Present Situation Index declined to 88.4 from 87.2 and the Consumer Expectations Index edged higher to 92.5 from 87. Finally, the One-year Consumer Inflation Rate Expectations declined to 5.8% from 6%.

Market reaction

The US Dollar Index remains under bearish pressure after this report and was last seen losing 0.25% at 90.17.