U.S. Factory Orders
The last key indicator for the day from the U.S. will be U.S. Factory orders data scheduled at 1400 GMT/1930 IST. This report contains a revision of the Durable Goods Orders data released about a week earlier, and fresh data regarding non-durable goods. It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.
Let’s see how Gold has reacted during the previous data release:
- Gold weakens noticeably after robust U.S. Economic Indicators and touches $1,810 mark.
- It made intraday high at $1,817 and low at $1,810 mark.
- A day chart and H1 chart with triple EMA suggests bullish trend for the time being.
- A sustained close above $1,821 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,809 on H1 chart will check further supports.
Take a look and do trade wisely!