Two Key Gold Levels ahead of US CPI Release

From tickmill.com

US indices closed Tuesday session on a bearish note as weak data on China's foreign trade sparked a minor turmoil in the market. However, the situation managed to turn around today; equity futures rebounded, taking away the dollar's potential for an immediate continuation of the rally on the back of risk aversion. EURUSD is attempting to hold around the 1.10 level ahead of the release of the US inflation report, hoping for a new surprise in the US core inflation on the downside. Nevertheless, in the short-term perspective for this pair, downside risks persist. A possible scenario for the pair from a technical ... (full story)