U.S. CPI & Core CPI data
Today U.S. will release CPI as well as Core CPI data at 1330 GMT/1900 IST. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. Here the average price of various goods and services are sampled and then compared to the previous sampling.
Let’s see how Gold has reacted during the previosu data release:
- Gold moves in rigid boundaries ahead of U.S. CPI results.
- Today pair made intraday high at $1,832 and low at $1,823 mark.
- A day chart and H1 chart with triple EMA suggest up trend for the time being.
- A sustained close above $1,832 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,818 on H1 chart will check further supports.
Take a look and do trade wisely!