The yellow metal is testing resistance at 1,326.43, which is represented by the monthly PP combined with the 20-day SMA at 1,327.90.
The common European currency is set up for a surge against the US Dollar, as the currency exchange rate faces no resistance in a 75 pip range.
The yellow metal fell on Tuesday and reached the first weekly support at 1,315.33. On early Wednesday morning, the bullion moved past the weekly S1.
The common European currency found support on Wednesday morning against the US Dollar, as the currency exchange rate rebounded against a combination of the long term channels lower trend line and the 20 and 100-day simple moving averages around the level of 1.1210.
The number of Americans filing for unemployment benefits dropped unexpectedly last week, official data revealed on Thursday. According to the Labor Department, initial jobless claims fell 4,000 to a seasonally adjusted 259,000 in the week ended September 3, touching the lowest level since mid-July and following the preceding week's reading of 263,000.
British consumer prices held steady last month, ignoring an increase in the prices of imported raw materials driven by the country's decision to leave the European Union.
After finding support previously on Monday, the yellow metal is trading almost flat on Tuesday between the weekly PP at 1,333.94 and monthly PP at 1,326.43.
The Euro remained flat against US Dollar on Tuesday morning, as the currency exchange rate has become stuck around the weekly PP at 1.1233.
The number of Americans filing for unemployment benefits dropped unexpectedly last week, official data revealed on Thursday. According to the Labor Department, initial jobless claims fell 4,000 to a seasonally adjusted 259,000 in the week ended September 3, touching the lowest level since mid-July and following the preceding week's reading of 263,000.
Britain's trade deficit narrowed slightly less than expected in July, official figures revealed on Friday. According to the UK Office for National Statistics, the country's total trade gap shrank to 4.5 billion pounds in July, compared to the preceding month's upwardly revised gap of 5.6 billion pounds, whereas market analysts expected Britain's trade deficit to narrow to 4.1 billion pounds
The yellow metal found support on early Monday morning, as it rebounded. However, the rebound is insufficient to be called a surge, as the metal is squeezed between the monthly PP and various resistance levels.
The Euro opened Monday's trading session just above the weekly PP against the US Dollar, as the currency exchange rate faces no resistance up to the level of 1,1326.
The number of Americans filing for unemployment benefits dropped unexpectedly last week, official data revealed on Thursday. According to the Labor Department, initial jobless claims fell 4,000 to a seasonally adjusted 259,000 in the week ended September 3, touching the lowest level since mid-July and following the preceding week's reading of 263,000.
Britain's trade deficit narrowed slightly less than expected in July, official figures revealed on Friday. According to the UK Office for National Statistics, the country's total trade gap shrank to 4.5 billion pounds in July, compared to the preceding month's upwardly revised gap of 5.6 billion pounds, whereas market analysts expected Britain's trade deficit to narrow to 4.1 billion pounds
The Euro gains strength against the US Dollar, as the currency exchange rate is surging on Friday.
The yellow metal looked for support on Friday morning, as it traded below the 1,340 level. Previously, the metal attempted to break through a resistance cluster just below the 1,350 mark.
The number of Americans filing for unemployment benefits dropped unexpectedly last week, official data revealed on Thursday. According to the Labor Department, initial jobless claims fell 4,000 to a seasonally adjusted 259,000 in the week ended September 3, touching the lowest level since mid-July and following the preceding week's reading of 263,000.
Manufacturing production resumed to demonstrate downward tendency after two months of the UK's Brexit vote. According to the Office for National Statistics, manufacturing production went down 0.9% in July compared to the month before, influenced by a strong decline in pharmaceutical output.
The yellow metal struggles with a resistance cluster made up from the weekly R2 at 1,346.69 and monthly R1 at 1,348.50.
The common European currency remained flat, as it lost all of the previous volatility due to the fact that the ECB rate decision will be published today at 11.45.
The US service sector expanded at the slowest pace in more than six years, official data revealed on Tuesday. The Institute for Supply Management said that its Non-Manufacturing PMI dropped to 51.4 points in August from the preceding month's 55.5, whereas market analysts anticipated a slight decrease to 55.4 in the reported month.
Manufacturing production resumed to demonstrate downward tendency after two months of the UK's Brexit vote. According to the Office for National Statistics, manufacturing production went down 0.9% in July compared to the month before, influenced by a strong decline in pharmaceutical output.
The US service sector expanded at the slowest pace in more than six years, official data revealed on Tuesday. The Institute for Supply Management said that its Non-Manufacturing PMI dropped to 51.4 points in August from the preceding month's 55.5, whereas market analysts anticipated a slight decrease to 55.4 in the reported month.
According to the latest data released by Markit Economics, Britain's services sector rebounded notably in August, showing a strong recovery from the post-Brexit plunge recorded during the previous month.