On Tuesday, at 12:30 GMT, the US Consumer Price Index will reveal, how the US inflation has continued to grow, as some market analysts speculate that month-on-month inflation for consumers in the United States could soon hit the 1.00% mark. Expect the US Dollar's value to adjust to the news.
During the middle of Wednesday's trading, at 12:30 GMT, the US Producers Price Index data will reveal how prices have changed at the production level. Most likely, the USD is set to move due to the release.
On Thursday, 12:30 GMT, the US Retail Sales data and weekly Unemployment Claims are scheduled to impact the value of the US Dollar.
Click on the link below to find out more about data releases of this and other currency exchange rates.
XAU/USD short-term forecast
At mid-day on Friday, the price was highly volatile between the 1,930.00 and 1,940.00 levels, as the SMAs acted as support and a previous high level zone below 1,940.00 provided resistance.
Above the 1,940.00 mark, the 1,950.00 level is expected to stop or even reverse a surge of the commodity price. On the other hand, a decline below the 1,930.00 and the simple moving averages could look for support in the 1,915.00/1,920.00 zone.
XAU/USD daily charts review
On the daily candle chart, the metal's price was reached by the 50-day simple moving average near the 1,896.00 level. Most recently, the moving average has moved up to the 1,915.00 level. Below the 50-day SMA, take into account the 100-day SMA near 1,865.00 and the 200-day SMA near 1,830.00.Daily Candle Chart
Traders are neutral
Since Thursday, the sentiment on the Swiss Foreign Exchange was neutral, as 51% of open position volume was in short positions.
Meanwhile, in the 1000-pip range around the metal's price, pending trade orders were 52% to buy the precious metal.