U.S. Empire State Manufacturing Index
The only event from the U.S. will be Empire State Manufacturing Index results. It’s a leading indicator of economic health – businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment. This data is derived via a survey of about 200 manufacturers in New York states which asks respondents to rate the relative level of general business conditions.
Let’s see how Gold has reacted during the previous data release:
- Gold trades slightly lower and touches $1,771 mark during European Hours.
- Today pair made intraday high at $1,782 and low $1,771 mark.
- A day chart is down while H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $1,782 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,772 will check further supports.
Take a look and do trade wisely!