On January 22, 2024, the Conference Board released its December Leading Economic Index (LEI) report.。CB Leading Economy Index Declines 0 MoM, Report Shows.1%, slightly below analyst expectations of -0.3%。During the six-month period from June to December 2023, the index fell by 2.9%。

Despite the overall decline, six of the leading indicators of LEI showed positive growth in December, the report noted.。However, these improvements were more than offset by weakness in manufacturing, a high interest rate environment and low consumer confidence.。

Interestingly, the Conference Board mentioned low consumer confidence, while the recent Michigan Consumer Confidence Report showed that consumer confidence jumped to its highest level since July 2021.。

Dollar index largely flat after CB Leading Economic Index report。Treasury yields fall, which is bad for the dollar。From a macro perspective, FX traders are waiting for a major catalyst。

Gold prices pull back despite decline in Treasury yields。Right now, gold is trying to fall back below $2025。Falling demand for safe-haven assets puts pressure on gold market。

Meanwhile, the SP500 keeps hitting new highs as a strong rally continues。This larger-than-expected report may provide additional support for the SP500。

Overall, the current forex and gold markets are affected by economic data and interest rate movements, and traders remain cautious while waiting for important market catalysts.。We will be keeping a close eye on all economic events today, check out our economic calendar for more。