CB Leading Economic Index m/m comes in at -0.2% against -0.2% consensus

The US Conference Board’s Leading Economic Index (LEI) for July registered a month-over-month change of -0.2%. This figure matched the consensus expectation of -0.2%. The previous month’s reading was 0.1%. The surprise versus consensus was 0.0%.

Measured market reactions 15 minutes after the release showed varied movements. AUDUSD was up 0.6 pips, while EURUSD was down 2.6 pips. GBPUSD declined 2.4 pips, and NZDUSD saw no change at 0.0 pips. USDCAD was down 1.3 pips. USDCHF gained 3.5 pips, and USDJPY rose 6.7 pips. Gold, XAUUSD, moved down 92 pips. For context, the median 1-hour move for AUDUSD after past releases is 8 pips, for EURUSD it is 8 pips, for GBPUSD it is 13 pips, for NZDUSD it is 6 pips, for USDCAD it is 11 pips, for USDCHF it is 8 pips, for USDJPY it is 11 pips, and for XAUUSD it is 31 pips. Many of the measured moves so far are small relative to their typical 1-hour moves. XAUUSD’s move of -92 pips is larger than its median 1-hour move of 31 pips.