Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1837.29 with take profit at 1838.79
Bearish Preference:
Sell position is envisaged if price trades below price 1831.79 with take profit at 1830.30
Fundamentals:
1:30pm USD CPI m/m
USD Core CPI m/m
Comment:
Now investors shifted their focus to U.S. inflation data, due later in the day, for more cues on the U.S. Federal Reserve’s interest rate hikes path. The analysts at Westpac said the dollar index was set to settle between 101 to 105, and could stay higher if U.S. CPI data and next week’s Fed meeting underscore a higher yield.
Analysis: SCRUM Team