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
If the decline of the commodity price continues, the metal might look for support in the 1,940.00 mark and the 50-hour simple moving average. Below these levels, note the trend line, which connects the late-March and early April low levels. In addition, the trend line is being supported by the 100 and 200-hour simple moving averages.
However, a resumption of the surge is set to encounter resistance at 1,950.00 and 1,970.00, before returning to 2,000.00.
XAU/USD daily charts review
On the daily candle chart, the metal's price appears to be pushed up by the 50-day simple moving average, which on Monday was at 1,921.70.Daily Candle Chart
Traders set up buy orders
On Monday, the sentiment on the Swiss Foreign Exchange was neutral, as 53% of open position volume was in short positions.
Meanwhile, in the 1000-pip range around the metal's price, pending trade orders were 92% to buy the precious metal.