U.S. ISM Manufacturing PMI Results
The U.S. has scheduled to release on more key economic data and that is ISM Manufacturing PMI data (1400 GMT/1930 IST). It’s 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. This data is derived via a survey of about 300 purchasing managers 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:
- Gold enjoys roller coaster movement ahead of U.S. Session.
- It made intraday high at $1,817 and low at $1,809 mark.
- A day chart and H1 chart with triple EMA suggests bullish trend for the time being.
- A sustained close above $1,818 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,809 will check further supports.
Take a look and do trade wisely!