How to trade Gold during U.S. Key Economic Indicators? June 15, 2021

Today’s U.S. session will be important as U.S. has scheduled to release many key economic indicators. They are U.S. Retail & Core Retail Sales (1230 GMT/1800 IST), PPI & Core PPI data (1230 GMT/1800 IST) and U.S. Industrial Production (1315 GMT/1845 IST) Results.

Retail Sales data is the primary gauge of consumer spending, which accounts for the majority of overall economic activity while Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.

Just after this, U.S. will come up with the Industrial Production data. It’s a leading indicator of economic health – production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings. While Capacity Utilization is a leading indicator of consumer inflation – when producers are nearing full capacity they respond by raising prices, and the higher costs are usually passed on to the consumer.

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

May 14:

April 15:

Technical View:

XAU/USD (Gold):

  • The gold exhibits range bound movement ahead of U.S.’s Key Economic Data.
  • The pair made intraday high at $1,869 and low at $1,858 mark.
  • A day chart is bullish but H1 chart with triple EMA confirms bearish trend for the time being.
  • A sustained close below $1,868 on H1 chart will check further supports.
  • Alternatively, consistent close above $1,858 will tests key resistances too.
$1,872 $1,858
$1,878 $1,852
$1,884 $1,847
$1,889 $1,841
$1,896 $1,836


Take a look and do trade wisely!
Good Luck

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