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Key U.S. Economic Indicators To Keep In Mind While Trading in Gold During U.S. Session; April 14, 2022

Key U.S. Economic Indicators To Keep In Mind While Trading in Gold During U.S. Session

Today U.S. has scheduled to release Retail Sales data at 1230 GMT/1800 IST and thereafter Prelim UoM Consumer Sentiment data at 1400 GMT/1930 IST. Retail Sales are the primary gauge of consumer spending, which accounts for the majority of overall economic activity while Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity. It is derived via a survey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions.

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

March Resutls:

Feb Results:

Let’s check out key headlines from Russia –Ukraine:

  • Finland, which shares a 1,300-km (810-mile) border with Russia, and Sweden are considering joining the NATO alliance. Finland will make a decision in the next few weeks, Prime Minister Sanna Marin said on Wednesday. (Reuters).
  • Russia warns of nuclear deployment if Sweden and Finland join NATO.
  • Ukraine’s Deputy Prime Minister Iryna Vereshchuk has said in a statement on social media that nine routes in the east and south of the country would be operating a day after they were shut because routes, she had said, were “too dangerous”. (AFP).
  • Russian companies, banks could reap windfall from depositary receipt delisting.
  • Ukrainian President Volodymyr Zelenskyy said he’s “sincerely thankful” to the U.S. for the new round of $800 million in military assistance.
  • The United States has a wide variety of additional sanctions that it can impose on Russia over its invasion of Ukraine, White House press secretary Jen Psaki told reporters on Wednesday.
  • Britain and the European Union announced coordinated sanctions against pro-Moscow separatists in Ukraine, as well as more Russian oligarchs and their relatives – Reuters.

source: Timesofindia

Technical View:

XAU/USD (GOLD):

  • Gold trades slightly lower on Thursday and trading around $1,970 mark.
  • Today pair made intraday high at $1,980 and low at $1,967 mark.
  • A triple EMA on a day chart and H1 chart suggest up trend for the time being.
  • A sustained close above $1,980 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,964 will check further supports.
SUPPORTS RESISTANCES
$1,964 $1,984
$1,958 $1,958
$1,954 $1,994
$1,948 $1,999
$1,941 $2,005

 

Take a look and do trade wisely!
Good Luck

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