Be Prepare Ahead of U.S. Session, $10+ Volatility Expected During U.S. Retail Sales Data; Dec 16, 2020

U.S. Retail Sales & Core Retail Sales

Today’s U.S. session will be more hectic as U.S. will publish retail sales, core retail sales, manufacturing PMI, services PMI and most awaited event that is U.S. FOMC Interest Rate Decision. Here I am briefing you out about U.S. Retail Sales Data. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

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

Nov 17:

Oct 16:

Technical View:

XAU/USD (Gold): Gold rises sharply and touches $1,860 mark in European hours. Today pair made intraday high at $1,860 and low at $1,851 mark. A sustained close above $1,853 requires for the upside rally. On the other side, consistent close below $1,827 will check key supports as well. Key support levels are seen around $1,810, $1,802, $1,787, $1,776, $1,764, $1,758, $1,747, $1,740 and $1,720 mark respectively. Key resistances are seen at $1,862, $1,876, $1,882, $1,888, $1,894 and $1,902 marks respectively.

Take a look and do trade wisely!
Good Luck