U.S. ADP Job Data

U.S. ADP job data
Today U.S. session will remain important for U.S. dollar as U.S. is going to release multiple economic data like trade balance, ADP job data, services PMI as well as ISM non – manufacturing PMI data. Here I am going to give you quick idea regarding ADP job data. The release time of such event is 1215 GMT/0545 IST. ADP analyzes payroll data from more than 23 million workers to derive employment growth estimations. If ‘Actual’ data comes greater than ‘Forecasted’ then it is good for U.S. dollar. Markets expect Negative ADP Job data around 1200K vs 2369K previous release.
Let’s see how gold has reacted during the previous data release:
July 01: Negative Data

June 03: Positive Data

Technical Analysis:

In every article, I am publishing GOLD Rate with historical high only, doesn’t it great!

XAU/USD (GOLD): Gold touches historical high at $2,044 in European hours. Today pair made intraday high at $2,044 and low at $2,009 mark. A sustained close above $2,019 requires for the upside rally. Alternatively, reversal from key resistance will take the parity down towards key supports around $1,987, $1,956, $1,947, $1,942, $1,931, $1,912, $1,907, $1,881 and $1,862 mark respectively. Key resistances are seen at $2,047, $2,054, $2,062, $2,071 and $2,082 mark respectively.

Take a look and do trade wisely!
Good Luck