Instrument: GOLD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1671.17 with take profit at 1674.82
Bearish Preference:
Sell position is envisaged if price trades below 1666.39 with take profit at 1663.63
Fundamentals:
1:30pm USD CPI
USD Core CPI
USD Unemployment Claims
Comment:
European stock markets are expected to open in a subdued fashion Thursday, with investors wary ahead of the release of key U.S. inflation data as well as the continued U.K. market turmoil. European equities are set to follow their Asian counterparts lower as investors feared a potential shock from U.S. inflation data after the minutes from last month’s Federal Reserve policy meeting showed that the policymakers appeared worried more about doing too little on inflation than too much. U.S. inflation data due out later in the session could help the U.S. central bank decide the size of its next rate move in November, which markets are predicting to be another 0.75 percentage point increase.
Analysis: SCRUM Team