Gold prices are experiencing a mild pullback after testing their highest levels since May 8 on Monday, as investors continue to digest trade-related headlines, including US President Donald Trump's request that countries submit their trade offers by Wednesday and the possibility of a call between Trump and Chinese President Xi Jinping.
Looking at the US economic calendar, the JOLTS (Job Openings and Labor Turnover Survey) data report, scheduled for release at 14:00 GMT, will mark the start of a critical week of labor-related economic data.
This report is expected to provide further insight into labor market conditions. Expectations are for the number of job openings in April to decrease to 7.1 million from 7.192 million in March.
The release of the JOLTs data will be closely watched as it provides crucial signals regarding labor demand, which could influence the Fed's decision-making on interest rates. Job openings and labor turnover are key indicators for the Fed as it assesses whether economic conditions warrant a shift in its monetary policy stance.
Source: Fxstreet
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