A Short Term Outlook: XAU/USD (GOLD); April 29, 2022
Key U.S. Indicators to Keep In Mind while Trading in Gold during U.S. Session:
Today U.S. has scheduled to release Personal Income & Spending data at 1230 GMT/1800 IST and Revised UoM Consumer Sentiment data at 1400 GMT/1930 IST.
Income is correlated with spending – the more disposable income consumers have, the more likely they are to increase spending. Consumer spending accounts for a majority of overall economic activity. It’s one of the most important gauges of economic health due to the vast ripple effect consumer buying creates in the economy.
Let’s see how Gold has reacted during the previous data release:
Let’s check out key headline from Russia – Ukraine:
- Ukraine slams Kyiv attack amid efforts for new Mariupol evacuation.
- Russia used a diesel submarine in the Black Sea to strike Ukrainian military targets with Kalibr cruise missiles, the defence ministry said on Friday. (Reuters).
- UK to deploy war crimes experts to Ukraine for Russia.
- Russia’s defence ministry on Friday confirmed it had carried out an air strike on Kyiv during a visit by UN secretary-general Antonio Guterres. “High-precision, long-range air-based weapons of the Russian Aerospace Forces have destroyed the production buildings of the Artyom missile and space enterprise in Kyiv,” the ministry said in its daily briefing on the conflict in Ukraine. (AFP).
- Russia offers dual-payment plan for oil, other trade with India.
- Ukraine President Volodymyr Zelenskyy said the blasts “prove that we must not drop our vigilance. We must not think that the war is over.
- G20 host Indonesia urges Zelenskiy, Putin to ‘forge peace’.
Source: Times of india
- Gold rises on Friday and remains well supported above $1,910 mark.
- Today pair made intraday high at $1,917 and low at $1,892 mark.
- A day chart is down and H1 chart with triple EMA suggest up trend for the time being.
- A sustained close above $1,921 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $1,904 on H1 chart will test further supports.
Take a look and do trade wisely!