Gtag:

Gold Back Above $2,000 mark, U.S. Inflation Results in Focus; March 10, 2022

U.S. CPI & Core CPI Results

Let’s start again with key U.S. Economic Indicators as Russia – Ukraine show is going a bit longer than expected. Everyone knows that Russia is capable enough to take any bigger sten against Ukraine but Russia is going gradually. It simply means that Russia is not at all worry about any sanctions putting against it by any country. It will likely to keep the words said and continues to invade Ukraine at any cost.

Today U.S. will release 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 previous data release:

Feb 10:

Jan 12:

Technical View:

XAU/USD (Gold):

  • Gold strengthens on Thursday and remains well supported around $2,000 mark.
  • Today pair made intraday high at $2,007 and low at $1,970 mark.
  • A triple EMA on a day chart is up and H1 chart suggests bearish trend for the time being.
  • A sustained close above $2,017 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,970 on H1 chart will check further supports.
SUPPORTS RESISTANCES
$$1,970 $2,017
$1,962 $2,026
$1,955 $2,032
$1,948 $2,038
$1,940 $2,044

 

Take a look and do trade wisely!
Good Luck

Tags
Share on facebook
Share on linkedin
Share on twitter
Share on telegram
Share on whatsapp
Unleash Powerful Trading Conditions with TP Global.

Recent Posts

Categories

Headquarter

Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.

Mail us

Drop mail at:
support@tpglobalfx.com

Contact us

Call or Whatsapp
+44 7441 416320

Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses because of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc.

TP Global FX Limited is registered and regulated by Vanuatu Finance Service Commission (VFSC) with a registration number 40409.

TP Global Limited is registered and regulated by FINANCIAL SERVICES COMMISSION (FSC) MAURITIUS with a registration number GB21026474

TP Global FX Limited is registered and regulated by Financial Services Commission, Mauritius with a registration number GB21026474

TP Global Fx Africa Limited is incorporated in Federal Republic of Nigeria under the Companies and Allied matters Act 1990 with registration number RC 1674202. The objects of the company are all subject matters not forbidden by Companies and Allied Matters Act 1990. To provide Electronic Platform through which clients can choose currencies, commodities, indexes, CFDs and other leveraged financial instruments to trade.

mappin at-sign phone close