U.S. Durable and Core Durable Goods orders results
The only event for the U.S. Session will be U.S. Durable & Core Durable goods data. This data is usually revised via the Factory Orders report released about a week later. Durable goods are defined as hard products having a life expectancy of more than 3 years, such as automobiles, computers, appliances, and airplanes. It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.
Let’s see how Gold has reacted during the previous data release:
- Gold moves in stiff boundaries and remains well supported above $1,790 mark.
- It made intraday high at $1,803 and low at $1,791 mark.
- A day chart and H1 chart with triple EMA suggests bearish trend for the time being.
- A sustained close above $1,802 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,792 will check further supports.
Take a look and do trade wisely!