The Purchasing Managers’ Index is an important indicator of the strength and weakness of industrial activity in the United States, including the level of business conditions in which it operates. Number of workers/staffs, quantity of goods produced, quantity of orders from trading partners, price of goods to be sold, quantity of goods shipped to customers and price of raw materials.

This indicator figure fell slightly from 56.0 to 55.4, indicating a weakening of the industrial sector. And the growth of the industrial sector is at 50.0. Therefore, we can conclude that the process of industrial activity is in full swing.

US sales of large vehicles and trucks for the domestic market increased by more than 1 million units, up from 14.5 to 15.2 million and it is a positive sign. Growth in staffing and business needs on travel, along with freight forwarding.

The number of Americans applying for unemployment claim is decreasing, reaching 837,000 as of October 1, 2020. Last month’s claimed was 873 thousand Americans.

Pivot Point:1900

R1: 1915                     S1: 1887

R2: 1927                     S2: 1872

R3: 1942                     S3: 1860

Today forecast, investor should make a short position in product XAUUSDx at current price of 1920 by setting take profit at 1900 and stop loss at 1928.

Analyzed by:Mr. Long Samnang,Independent analyst