Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1777.72 with take profit at 1780.32.
Bearish Preference:
Sell position is envisaged if price trades below 1765.21 with take profit at 1762.38.
Fundamentals:2:30pm USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Unemployment Rate
4:00pm USD ISM Services PMI
Comment: With virus nerves subsiding and the Fed-taper stronger US dollar story reasserting itself, gold continued to take a standing 8-count, remaining near its weekly lows. Fed officials speaking on Thursday joined Chair Jerome Powell in striking a hawkish stance, with San Francisco Fed President Mary Daly saying it may be time to “start crafting a plan” to raise rates to combat inflation, and Richmond Fed President Thomas Barkin throwing his support behind “normalising policy.”
Analysis: SCRUM Team