We have seen sluggish move in Bullion while negative bias
trading in base metal and Crude oil.
In evening session we will expect high volatility due to
there upcoming data and event.
1) US Nonfarm Payroll at 7pm. Previous data stood at 142k
and this time forecast is of 181k. Forecast figure seems to be negative for
bullion.
2) US Average hourly Earning m/m basis at 7pm. Previous data
stood at 0.0% and this time forecast is of 0.2%.
Data forecast figure seems to be negative for bullion
3) US Unemployment rate at 7PM. Previous data stood at 5.1%
and this time forecast is of 5.0. Forecast figure seems to be negative for
bullion.
4) Canadian Building Permit at 7pm. Previous data stood at
-3.7% and this time forecast is of 1.4%. Data forecast figure seems to be
positive for base metal and negative for bullion.
Traders can trade safely with levels only and wait for
confirmation.
