The United States released its consumer sentiment data at 10:00 PM WIB. This information reflects consumers’ optimism regarding the economic landscape, which significantly influences their spending and saving habits.
The reported consumer sentiment figure stands at 104.7, falling short of the trading central forecast of 112.4 and lower than the previous level of 111.7.
A decline in consumer confidence generally results in decreased consumer spending. When individuals feel less optimistic about their financial situation and the overall economic context, they tend to prioritize saving over purchasing, especially for significant investments.
Nonetheless, tonight’s disappointing data from the US has not halted the decline in gold prices, which have fallen to $2,610, seemingly unaffected by the recent economic indicators. This downward trend in gold prices may persist. Additionally, major currencies like EURUSD and GBPUSD also exhibited weakness following the release of this data.
