The XAU/USD pair shows flat dynamics, being located near 1960.00. Market activity remains subdued as market participants await the publication of new macroeconomic statistics, as well as the results of the US Federal Reserve and the European Central Bank (ECB) meetings. The European regulator may raise the interest rate by 25 basis points to 4.00%, while the US Fed is likely to keep it at 5.25%. The decision of the Fed may be significantly affected by the dynamics of consumer inflation for May, which will be published today. Forecasts suggest a slowdown in the annual Consumer Price Index from 4.9% to 4.1%, and monthly from 0.4% to 0.2%, while the Core CPI may decrease from 5.5% to 5.3% and keep the monthly growth rate at 0.4%. A meeting of the Bank of Japan will also be held this week, at which, most likely, the former ultra-soft monetary policy of the regulator will be maintained.
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