Today at 14:00 UTC: United States ISM Manufacturing PMI (Jun), CME Palladium steady at $1,218.5

Without a clear-cut direction, CME Palladium is trading around $1,218.5 per troy ounce and ranging between $1,212.5 and $1,235.

• United States ISM Manufacturing PMI (Jun) is next today at 14:00 UTC.
• While mostly sideways today, the Palladium future is on a 14 day bearish trend during which it lost $193.

Here is the technical analysis of the Palladium future before macro data is released:

Palladium made an initial breakout above its 3 day Simple Moving Average at $1,236.5, a potential indicator of a newly emerging bullish phase. CME Palladium's upper Bollinger Band® is at $1,450 and the lower is $1,185.56.

Overall, looking at the technical analysis landscape, it seems Palladium might be pointing upward in the short term.

Coming up for CME Palladium — United States ISM Manufacturing PMI (Jun) scheduled to come out today at 14:00 UTC.

As the markets get ready for more data to be released — Gold closed at $1,920.7 (down 0.45%). After ending Friday's session at $913.2, Platinum lost $6.1 and is trading around $907.1. Having closed the previous session at $3.76, Copper is up 0.65% today to currently trade at around $3.78.

The commodity has been trending lower for about a month. Palladium has fallen back around 47.35% over the past 8 months, from a notable high of $2,321.2.