Instrument: GOLD
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above price 1776.76 with take profit at price 1779.08.
Bearish Preference:
A sell position is envisaged if price trades below price 1769.80 with take profit at price 1767.58.
Fundamentals:
USD 1:30PM Core Retail Sales m/m
Retail Sales m/m
Philly Fed Manufacturing Index
Unemployment Claims
Comment: The Fed will hand down its latest policy decision next week, which could provide clues on the central bank’s timeline. Across the Atlantic, European Central Bank Executive Board member Isabel Schnabel said on Wednesday that real interest rates are puzzlingly low globally and that investors may be overestimating the economic impact of COVID-19’s Delta variant.
Analysis: SCRUM Team