Essentials

• Eurozone Consumer Confidence Index from -15 in December.1 down to -16 in January.1。
• Richmond Federal Manufacturing Index drops from -11 to -15。
• Weak economic data failed to support gold, which remains stuck near $2025。

On January 23, traders had a chance to look at the Eurozone consumer confidence report.。-14 in line with analyst expectations, report shows.3 compared to consumer confidence from -15 in December..1 (revised from -15) fell to -16 in Jan..1。

Eurozone consumer confidence has been below -15 levels since early 2022。From a macro perspective, consumer confidence in the euro area is slowly picking up after a strong correction triggered by the energy crisis in late 2022 to early 2023.。

At current levels, Eurozone consumer confidence remains well below its long-term average, which is not surprising given the problems of the European economy.。

EUR / USD test new low after report。At present, EUR / USD is struggling to stabilize at 1.Below 0850。FX traders believe the Fed will be more hawkish than the ECB in the short term, which is bearish on EUR / USD。

In US, Traders Focus on Richmond Federal Manufacturing Index Report。The report showed the Richmond Federal Manufacturing Index fell to -15 in January from -11 in December, while analysts expected -7.。

With the market betting that artificial intelligence will improve profitability in many industries, the SP500 stabilized near the 4860 level after the report was released.。Overall market sentiment remains bullish as traders see AI driving profitability in many sectors。

Gold is trading close to the $2025 level after failing to break through its $2040 attempt。A stronger dollar and rising Treasury yields are negative catalysts for the gold market。

For all of today's economic events, check out our economic calendar。