The University of Michigan consumer confidence for the US rose to 64.6 in January from 59.7 in December, well above market forecasts of 60.4, preliminary estimates showed. It is the highest reading since April.
Current conditions were assessed more positively (68.6 vs. 59.4) and the expectations gauge also improved from 59.9 to 62. Full-year inflation expectations eased for the fourth consecutive month, falling to 4.0% in January from 4.4% in December, the lowest level since April 2021. Long-term inflation expectations were little changed from December at 3.0%, again staying within the narrow 2.9 range of -3.1% for 17 of the last 18 months.
The EURUSD pair once again returned above the 1.0800 level. Source: xStation5
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