U.S. Durable Goods Orders & Core Durable Goods Orders Data
The last trading day of the week will remain overall silent in the absence of various economic indicators but during the U.S. session, U.S. is going to release durable goods orders data as well as core durable goods orders data. The releasing time of the data is 1230 GMT/1800 IST. It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders. If actual data comes higher than forecasted, it will be good for U.S. dollar.
Let’s see how Gold has reacted during the previous data release:
XAU/USD (GOLD): Gold edges slightly up on Friday and trading around $1,875 mark. Today pair made intraday high at $1,875 and low at $1,862 mark. A sustained close above $1,867 requires for the upside rally. On the other side, consistent close below $1,863 will check key supports as well. Key support levels are seen around $1,862, $1,849, $1,840, $1,822, $1,809 and $1,787 mark respectively. Key resistances are seen at $1,872, $1,881, $1,894, $1,912, $1,922, $1,932, $1,940, $1,947, $1,957 and $1,972 marks respectively.
Take a look and do trade wisely!