Key U.S. Fundamentals to Watch Out During U.S. Session, FOMC Interest Rate Decision Next; July 27, 2022

U.S. Durable & Core Durable Goods Orders Data

Today’s U.S. session will be most interesting one with the Few Key Economic Fundamentals and the most awaited event and that is U.S. FOMC Interest Rate Decision.

First let’s check it out Key U.S. Fundamentals:

U.S. will release Durable & Core Durable Goods Orders data at 1230 GMT/1800 IST and Pending Home Sales data at 1400 GMT/1930 IST. Durable/ Core Durable data is usually revised via the Factory Orders report released about a week later. Durable goods are defined as hard products having a life expectancy of more than 3 years, such as automobiles, computers, appliances, and airplanes. It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.

While Pending Home Sales data is a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.

Let’s see how gold has reacted during the previous data release:
June Results:

Technical View:

XAU/USD (Gold):

  • Gold trades marginally higher on Wednesday and jumps back above $1,720 mark.
  • The pair made intraday high at $1,725 and Low at $1,713 mark.
  • A day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $1,724 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,715 on H1 chart will test further supports.
$1,715 $1,728
$1,709 $1,732
$1,704 $1,738
$1,698 $1,742
$1,691 $1,748


Take a look and do trade wisely!
Good Luck