U.S. PPI and Core PPI Results
The only key indicator from the U.S. will be U.S. PPI and Core PPI Data. It’s a leading indicator of consumer inflation – when producers charge more for goods and services the higher costs are usually passed on to the consumer. In addition food and energy prices make up about 40% of overall PPI which tends to mute the importance of the Core data.
Let’s see how Gold has reacted during the previous data release:
- Gold strengthens marginally ahead of U.S. PPI data and touches $1,758 mark during European hours.
- Today pair made intraday high at $1,758 and low $1,748 mark.
- A day chart is down while H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $1,756 on H1 chart requires for the upside rally.
- • Alternatively, a consistent close below $1,748 will check further supports.
Take a look and do trade wisely!