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