U.S. Released Jobless Claims Weekly data with NEGATIVE Numbers

U.S. Released Jobless Claims Weekly data with NEGATIVE Numbers

U.S. just has released jobless claims weekly data with NEGATIVE numbers (1230 GMT/0600 IST). Market has expected 1300K jobless claims as it was previous but actual data come up at 1416K. If ‘Actual’ data comes less than ‘Forecast’ then it is good for U.S. dollar. Now the data suggests some negative movement for U.S. dollar. As it releases on every week so may not give high movement but as dollar is depreciating against major peers so markets eye on what will the actual data and market movement today?

CURRENT CHART:

July 23, 2020: Negative Data ($8 movement/Downside UP)

Let’s see how Gold has reacted during the past data release:

July 16: Negative Data ($6 flat movement)

July 09: Positive Data ($7 Upside movement)

Technical View:

XAU/USD (GOLD): Gold touched $1,888 mark in European session and hits highest level since Sept 2011. Today pair made intraday high at $1,888 and low at $1,863 mark. A sustained close above $1,871 requires for the upside rally. Alternatively, reversal from key resistance will take the parity down towards key supports around $1,862, $1,841, $1,817, $1,802, $1,790, $1,784 and $1,770 mark respectively. Key resistances are seen at $1,892, $1,912, $1,922 and $1,934 mark respectively.

Take a look and do trade wisely!

Good Luck

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