Gtag:

Be Watchful Ahead of U.S. Session, Gold Likely to Give $15+ Volatility; May 14, 2021

U.S. Retail Sales & Industrial Production Results

Today’s U.S. session will remain important as U.S. has scheduled to release many key economic data at different time intervals.

Retail Sales & Core Retail Sales Results (1230 GMT/1800 IST)

It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity. Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.

Industrial Production and Capacity Utilization Rate (1315 GMT/1845 IST)

It’s a leading indicator of economic health – production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings. On the other side, Capacity utilization rate is a leading indicator of consumer inflation – when producers are nearing full capacity they respond by raising prices, and the higher costs are usually passed on to the consumer.

Let’s see how Gold has reacted during the previous data release:

April 15:

March 16:

Prelim UoM Consumer Sentiment (1400 GMT/1930 IST)

Financial Confidence is a leading indicator of Consumer spending, which accounts for a majority of overall economic activity. This data is derived via a survey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions. There are 2 versions of this data released 14 days apart – Preliminary and Revised. The Preliminary release is the earlier and thus tends to have the most impact.

Let’s see how Gold has reacted during the past data release:

April 16:

March 12:

Technical View:

XAU/USD: Gold remains volatile ahead of U.S. Key Economic Indicators. The pair made intraday high at $1,837 and low at $1,819 mark. A day chart and H1 chart with triple EMA suggest bullish trend for the time being. A sustained close above $1,840 on H1 chart test key resistances. Alternatively, reversal from here will drag the parity down below $1,820 mark.

Key Resistances: $1,838, $1,842, $1,848, $1,852, $1,856

Key Supports: $1,822, $1,815, $1,808, $1,802, $1,796

Take a look and do trade wisely!
Good Luck

Tags
Share on facebook
Share on linkedin
Share on twitter
Share on telegram
Share on whatsapp
Unleash Powerful Trading Conditions with TP Global.

Recent Posts

Categories

Offices

305 Griffith Corporate Park, Beachmont Kingston, Saint Vincent & the Grenadines

Mail us

Drop mail at:
support@tpglobalfx.com

Contact us

Call or Whatsapp
+44 7441 416320

Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses as a result of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc. This site is run and operated by - TP Global Services Limited registered by St. Vincent and the Grenadines with Number 25274 BC 2019. Registered office: Suite 305, Griffith Corporate Centre, Beachmont, P.O.Box 1510, Kingstown Saint Vincent and the Grenadines

TP Global Fx Africa Limited is incorporated in Federal Republic of Nigeria under the Companies and Allied matters Act 1990 with registration number RC 1674202. The objects of the company are all subject matters not forbidden by Companies and Allied Matters Act 1990. To provide Electronic Platform through which clients can choose currencies, commodities, indexes, CFDs and other leveraged financial instruments to trade.

TP Global Services Limited is registered with NFA (National Futures Association) USA with Registration Number 0533098.

mappin at-sign phone close