CB Leading Economic Index Fell 0.1% In December

Key Insights

• CB Leading Economic Index declined by 0.1% month-over-month in December.
• High ardour charges attach stress on the index.
• SP500 tests original highs because the strong rally continues.

On January 22, The Convention Board launched CB Leading Economic Index document for December. The document indicated that CB Leading Economic Index (LEI) declined by 0.1% on a month-over-month basis, compared to analyst consensus of -0.3%. The index declined by 2.9% over the six-month duration between June and December 2023.

The Convention Board commented: “In spite of the final decline, six out of ten main indicators made certain contributions to the LEI in December. Alternatively, these improvements had been extra than offset by extinct cases in manufacturing, the excessive ardour-rate environment, and low consumer confidence.”

Interestingly, The Convention Board mentions low consumer confidence whereas the present Michigan Person Sentiment document confirmed that Person Sentiment jumped to its very top stage since July 2021.

U.S. Greenback Index is mostly flat after the liberate of CB Leading Economic Index document. Treasury yields are entertaining lower, which is bearish for the American forex. From a large image level of look, forex merchants are awaiting important catalysts.

Gold pulls encourage despite falling Treasury yields. For the time being, gold is attempting to resolve encourage below the $2025 stage. Attach a query to for stable-haven resources is declining, which is bearish for gold markets.

SP500 tests original highs because the strong rally continues. The better-than-anticipated document might perchance per chance perchance provide extra toughen to SP500.

For a peer at all of this day’s economic events, investigate cross-check our economic calendar.