Key U.S. Indicator To Keep In Mind While Trading In Gold During U.S. Session:
Today U.S. has scheuled to release U.S. Personal Income/Spending data at 1230 GMT/1800 IST and thereafter U.S. Chicago PMI 1345 GMT/1915 IST.
Income is correlated with spending – the more disposable income consumers have, the more likely they are to increase spending. Consumer spending accounts for a majority of overall economic activity. It’s one of the most important gauges of economic health due to the vast ripple effect consumer buying creates in the economy.
On the other end, Chicago PMI is a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy. It is derived via a survey of around 200 purchasing managers in Chicago which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.
Let’s see how gold has reacted during the previous data release:
Let’s check out key headlines from Russia –Ukraine:
- Russian forces in Ukraine are not withdrawing but regrouping, Nato secretary-general Jens Stoltenberg said on Thursday, commenting on Moscow’s announcements about a scaling down of military operations around Kyiv.
- Kremlin says Putin has informed Germany’s Scholz in detail on how gas payments in roubles could be carried out.
- Ukraine presidential adviser says security guarantee system for Ukraine will not allow Russia right to veto support for Ukraine.
- Ukraine presidential adviser says Russia has destroyed practically all of Ukraine’s defence industry.
- Turkey offers to host more Ukraine talks.
- Zelenskyy has appealed Australian lawmakers for more help in its war against Russia, including armoured vehicles and tougher sanctions. (AP).
- Ukrainian President Volodymyr Zelenskiy asked the Dutch parliament on Thursday for weapons, reconstruction aid and a halt to all business with Russia in response to the invasion of his country.
Source: Times of india
- Gold appreciates on MThursday and stabilises around $1,930 mark.
- Today pair made intraday high at $1,934 and low at $1,919 mark.
- A triple EMA on a day chart and H1 chart suggest up trend for the time being.
- A sustained close above $1,934 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,921 will check further supports.
Take a look and do trade wisely!