U.S. CPI & Core CPI Results
The Key indicator for the U.S. Session will be U.S. CPI as well as Core CPI results. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the Central Bank to raise interest rates out of respect for their inflation containment mandate. Here the average price of various goods and services are sampled and then compared to the previous sampling.
Let’s see how Gold has reacted during the previous data release:
- Gold rises noticeably in European hours and touches $1,768 mark ahead of U.S. Inflation Results.
- Today pair made intraday high at $1,768 and low at $1,759 mark.
- A day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $1,768 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,747 will check further supports.
Take a look and do trade wisely!