US CB Consumer Confidence Index rises to a two-year high of 114.8 in January

• 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.