United States data awaited for clear XAU/USD direction

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While the aforementioned catalyst allows the XAU/USD to remain firmer mixed indicators suggesting the market’s risk appetite highlight today’s US ISM Services PMI and ADP Employment Change for March.

While portraying the mood, Wall Street closed with minor losses but the US Treasury bond yields remain depressed with the benchmark 10-year coupons holding lower grounds near 3.34% after falling in the last five consecutive days. It should be observed that the CME’s FedWatch Tool suggests almost even chances of the US central bank’s 0.25% rate hike in May.

Also read: US ADP Jobs/ISM Service PMI Preview: Slowing but still positive


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