U.S. New Home Sales and Richmond Manufacturing Index
Today U.S. will release two indicators at the same time at 1400 GMT/1930 IST. In case of mixed data release, U.S. dollar might give high volatility against major peers.
Richmond Manufacturing Index is the survey of about 55 manufacturers in the Richmond area which asks respondents to rate the relative level of business conditions including shipments, new orders, and employment. Above 0 indicates improving conditions, below indicates worsening conditions.
Let’s see how Gold has reacted during the previous data release:
- Gold strengthens sharply ahead of key U.S. Indicators and touches $1,809 mark.
- It made intraday high at $1,809 and low at $1,800 mark.
- A day chart is down while H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $1,806 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,798 will check further supports.
Take a look and do trade wisely!