U.S. Prelim UoM Consumer Sentiment Results
Today the only key indicator from the U.S. will be U.S. Prelim UoM Consumer Sentiment Data and U.S. JOLTS Job openings scheduled at 1500 GMT/2030 IST. As two indicators are releaseing at the same time, in case of mixed data release, U.S. dollar may be volatile against major peers. There are 2 versions of this data released 14 days apart – Preliminary and Revised. The Preliminary release is the earlier and thus tends to have the most impact. It is derived via a survey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions.
Let’s see how Gold has reacted during the previous data release:
- Gold weakens ahead of U.S. Prelim UoM Consumer Sentiment Data and hovers around $1,850 mark.
- Today pair made intraday high at $1,862 and low at $1,849 mark.
- A day chart and H1 chart with triple EMA suggest up trend for the time being.
- A sustained close above $1,864 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,852 on H1 chart will check further supports.
Take a look and do trade wisely!