Following the release of higher than expected consumer confidence index, the value of gold and Dow Jones stocks rose in the markets.Deltafx Admin 26 December 2022
The US CB Consumer Confidence Index measures the level of consumer confidence in economic activity. This index is a leading indicator because it can predict consumer spending, which plays an important role in overall economic activity. Higher values indicate greater consumer optimism.
A higher than expected reading should be considered positive/bullish for the USD, while a lower than expected reading should be considered negative/bearish for the USD.
The CB Consumer Price Index was released at 3:00 on December 21 at 108.3, which was 7.3 points above expectations. It should also be mentioned that the figure of the previous period of this index was corrected and stabilized at the level of 101.4 units.
After the release of this index, the price of gold rose to $1832.83. The Dow Jones also rose to 33,451.