Gold price (XAU/USD) is holding its auction above the critical support of $1,980.00 in the Asian session. The precious metal is struggling around $1,985.00 as the US Dollar Index (DXY) is showing mixed signals around its crucial support of 101.63. After topsy-turvy moves in a wide range of 101.63-102.27 for the past four trading sessions, investors are anticipating a decisive move from the USD Index.

S&P500 futures are holding onto losses in the Asian session as investors are anxious ahead of quarterly results from giant technology stocks. Amazon, Facebook, and Google are expected to keep investors busy this week with their first-quarter CY2023 results. The yields offered on US government bonds have dropped marginally amid a subdued performance by the US Dollar Index. The 10-year US Treasury yields have dropped to near 3.56%.

This week, the USD Index will dance to the tunes of Durable Goods Orders (March) data. The economic data is seen expanding by 0.8% vs. a contraction of 1.0%. A recovery in demand for Durable Goods indicates that households’ demand is recovering, which could further lift core inflation expectations. An upbeat economic data would be supportive to more rate hikes from the Federal Reserve (Fed).