The Federal Reserve Bank of New York's monthly Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectation stayed unchanged at 5% in January.

Further details of the publication showed that the three-year ahead expected inflation declined to 2.7% from 2.9% in December and the five-year ahead expected inflation edged higher to 2.5% from 2.4%.

On a concerning note, the expected household income growth for the year ahead dropped to 3.3% from 4.6%, marking the biggest decline in the survey's history.

Market reaction

The US Dollar Index stays under modest bearish pressure following this report and it was last seen losing 0.17% on the day at 103.40.