A quiet one.

Another week beginning and even more potentially exciting movement for the precious metal this week as the Dollar may continues its upwards trend we have seen for the last few weeks.

Apart from bank holidays the data releases on this coming Monday are the quietest I have ever seen. We have three events throughout the day, but there is only one that could potentially cause a little bit of action and that is the FOMC member Mester speaking early in the morning. But this really shouldn't do much to markets and tomorrow is indeed looking very quiet indeed.

Tuesday is much busier and there are two important events coming out of the US. These are Core Retail Sales m/m and Retail Sales m/m, Core is showing a 0.3% incline in forecast which shall be significant if held, and Retail Sales are forecast for a slight decline. The UK have their Inflation Report Hearing which will be worth watching, it will of course create volatility in the cable market and could cause a slight movement for the yellow metal if certain significant interest rate changes are hinted towards. Apart from this I don't see anything causing much volatility for Gold during Tuesday. But I do believe the Retail results shall be very important for Tuesday's market movement. 

Mid-week is a tad quieter with just one significant data release during the day, which is the US Building Permits, yet the forecast is meant to be bang on previous at 1.35m. Thus, I don't know how much influence we shall see on the Gold market as a result, but it does depend how far actual varies from forecast. Worth watching will be the ECB President Draghi speaking at midday and FOMC member Bostic speaking, so could be a very volatile day!

Much like last week, Thursday and Friday are fairly quiet for releases. Thursday just has the US Unemployment Claims, showing an 8k increase from last week but I doubt this will have much impact on overall market movement for Gold. Yet, there isn't anything else on Thursday which is catching my eye so I feel directional change shall be strongly influenced by Dollar gains or falls during this week.

Friday and finishing the week we really do have little to look at, just another FOMC member speaking in the afternoon is the only thing I see effecting markets but even here the change shall be limited to well under $5 in my opinion, but pay attention, anything can happen!

Peace.

The Naive Trader.

Forex Factory, 2018.