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SpanishU.S. PPI & Core PPI Data
U.S. PPI & Core PPI Data
U.S. is going to publish PPI, core PPI data around 1230 GMT/0600 IST. It’s a leading indicator of consumer inflation – when producers charge more for goods and services, the higher costs are usually passed on to the consumer. Markets expect positive reading from both the data. If actual data comes higher than forecasted then it is good for U.S. dollar. Markets expect core PPI to come around 0.1 pct vs -0.3 pct previous release. In addition, PPI is expected to come around 0.3 pct vs -0.2 pct previous release.
Let’s see how gold has reacted during the previous data release:
July 10: Negative Data
June 11: Core PPI flat, PPI and unemployment claims weekly positive
Technical View:
XAU/USD (GOLD): Gold hits fresh 5 – day low at $1,975 mark. Today pair made intraday high at $2,030 and low at $1,975 mark. A sustained close above $2,063 requires for the upside rally. Alternatively, reversal from key resistance will take the parity down towards key supports around $1,972, $1,964, $1,956, $1,947, $1,942, $1,931, $1,912, $1,907, $1,881 and $1,862 mark respectively. Key resistances are seen at $1,989, $1,997, $2,009, $2,022, $2,030, $2,049, $2,076, $2,082, $2,088, $2,094 and $2,111 mark respectively.
Take a look and do trade wisely!
Good Luck
