Here are the key factors to keep in mind today for Gold trades:

• Australian Consumer Inflation Expectations: Australian Consumer Inflation Expectations for June increased by 4.2% annualized. Forex traders can compare this to Australian Consumer Inflation Expectations for May which increased by 3.7% annualized.
• Japanese Condominium Sales: Japanese Condominium Sales for May decreased by 5.4% annualized. Forex traders can compare this to Japanese Condominium Sales for April which decreased by 14.6% annualized.
• Australian Employment Report: The Australian Employment Change for May was reported at 12.0K. Economists predicted a figure of 19.0K. Forex traders can compare this to the Australian Employment Change for April which was reported at 18.3K. The Unemployment Rate for May was reported at 5.4%. Economists predicted a reading of 5.5%. Forex traders can compare this to the Unemployment Rate for April which was reported at 5.6%. 20.6K Full-Time Positions were lost in May and 32.6K Part-Time Positions were created. Forex traders can compare this to the creation of 28.0K Full-Time Positions and the loss of 9.7K Part-Time Positions which were reported in April. The Labor Force Participation Rate for May was reported at 65.5%. Economists predicted a reading of 65.6%. Forex traders can compare this to the Labor Force Participation Rate for April which was reported at 65.6%.
• Chinese Surveyed Jobless Rate: The Chinese Surveyed Jobless Rate for May was reported at 4.8%. Forex traders can compare this to the Chinese Surveyed Jobless Rate for April which was reported at 4.9%.
• Chinese Industrial Production: Chinese Industrial Production for May increased by 6.8% annualized. Economists predicted an increase of 7.0% annualized. Forex traders can compare this to Chinese Industrial Production for April which increased by 7.0% annualized.
• Chinese Retail Sales: Chinese Retail Sales for May increased by 8.5% annualized. Economists predicted an increase of 9.6% annualized. Forex traders can compare this to Chinese Retail Sales for April which increased by 9.4% annualized.
• Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for May increased by 6.1% annualized. Economists predicted an increase of 7.0% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for April which increased by 7.0% annualized.
• Japanese Industrial Production and Capacity Utilization: Final Japanese Industrial Production for April increased by 0.5% monthly and by 2.6% annualized. Forex traders can compare this to Japanese Industrial Production for April which increased by 0.3% monthly and by 2.5% annualized. Capacity Utilization for April increased by 1.8% monthly. Forex traders can compare this to Capacity Utilization for March which increased by 0.5% monthly.
• German CPI: The Final German CPI for May increased by 0.5% monthly and by 2.2% annualized. Economists predicted an increase of 0.5% monthly and of 2.2% annualized. Forex traders can compare this to the previous German CPI for May which increased by 0.5% monthly and by 2.2% annualized.
• UK Retail Sales: UK Retail Sales for May are predicted to increase by 0.3% monthly and by 2.5% annualized. Forex traders can compare this to UK Retail Sales for April which increased by 1.3% monthly and by 1.5% annualized. UK Retail Sales Including Auto and Fuel for May are predicted to increase by 0.5% monthly and by 2.4% annualized. Forex traders can compare this to UK Retail Sales Including Auto and Fuel for April which increased by 1.6% monthly and by 1.4% annualized.
• ECB Rate Decision: The ECB is predicted to keep its Interest Rate at 0.00%, its Deposit Facility Rate at -0.40% and its Marginal Lending Facility Rate at 0.25%; this would equal no change in the ECB rate policy from the previous meeting. The Asset Purchase Target is predicted at €60B, for no change from the €60B reported during the previous meeting.
• Canadian New Housing Price Index: The Canadian New Housing Price Index for April is predicted flat at 0.0% monthly and to increase by 1.7% annualized. Forex traders can compare this to the Canadian New Housing Price Index for March which was reported flat at 0.0% monthly and which increased by 2.4% annualized.
• US Advanced Retail Sales: US Advanced Retail Sales for May are predicted to increase by 0.4% monthly and Retail Sales Less Autos are predicted to increase by 0.5% monthly. Forex traders can compare this to US Advanced Retail Sales for April which increased by 0.3% monthly and to Retail Sales Less Autos which increased by 0.3% monthly. Retail Sales Less Autos and Gas for May are predicted to increase by 0.4% monthly and Retail Sales Control Group are predicted to increase by 0.4% monthly. Forex traders can compare this to Retail Sales Less Autos and Gas for April which increased by 0.3% monthly and to Retail Sales Control Group which increased by 0.4% monthly.
• US Import and Export Price Index: The US Import Price Index for May is predicted to increase by 0.5% monthly and by 3.9% annualized. Forex traders can compare this to the US Import Price Index for April which increased by 0.3% monthly and by 3.3% annualized. The US Import Price Index excluding Petroleum for May is predicted to increase by 0.2% monthly. Forex traders can compare this to the US Import Price Index excluding Petroleum for April which increased by 0.1% monthly. The US Export Price Index for May is predicted to increase by 0.3% monthly and by 4.4% annualized. Forex traders can compare this to the US Export Price Index for April which increased by 0.6% monthly and by 3.8% annualized.
• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of June 9th are predicted at 222K and US Continuing Claims for the week of June 2nd are predicted at 1,734K. Forex traders can compare this to US Initial Jobless Claims for the week of June 2nd which were reported at 222K and to US Continuing Claims for the week of May 26th which were reported at 1,741K.
• US Business Inventories: US Business Inventories for April are predicted to increase by 0.3% monthly. Forex traders can compare this to US Business Inventories for March which were reported flat at 0.0% monthly.

Should price action for Gold remain inside the or breakout above the 1,297.35 to 1,306.20 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1,301.00
• Take Profit Zone: 1,356.50 – 1,364.90
• Stop Loss Level: 1,281.85

Should price action for Gold breakdown below 1,297.35 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1,294.50
• Take Profit Zone: 1,260.40 – 1,270.55
• Stop Loss Level: 1,306.20

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.