Gtag:

Key U.S. Economic Indicators to Keep In Mind While Trading in Gold During U.S. Session; Feb 22, 2022

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

Today’s U.S. session will remain busy as U.S. has scheduled to release many key economic Indicators but the key indicators will be U.S. Flash Manufacturing as well as Services PMI data scheduled at 1445 GMT/2015 IST and thereafter Richmond Manufacturing Index data at 1500 GMT/2030 IST.

Flash PMI data is a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy. It is derived via a survey of about 800 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

While Richmond Manufacturing Index is derived via a survey of about 55 manufacturers in the Richmond area which asks respondents to rate the relative level of business conditions including shipments, new orders, and employment.

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

Jan 24:

Dec 16:

Technical View:

XAU/USD (Gold):

  • The Gold depreciates sharply ahead of Key U.S. Flash PMI data and stabilizes below $1,900 mark.
  • Today pair made intraday high at $1,914 and low at $1,894 mark.
  • A day chart and H1 chart with triple EMA suggest up trend for the time being.
  • A sustained close above $1,904 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,891 on H1 will check further supports.
SUPPORTS RESISTANCES
$1,891 $1,904
$1,886 $1,909
$1,881 $1,915
$1,876 $1,918
$1,872 $1,923

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