US Session News Summary – May 29 🇺🇸 📊
🔸 Today’s market focus is mainly on multiple speeches from FOMC members, including Kashkari, Schmid, Bowman, Paulson, and Daly.
➡️ Traders will watch closely for any hawkish comments regarding inflation and future interest rate policy.
📌 Key Economic Data:
• Goods Trade Balance forecast: -86.7B vs previous -87.9B
➡️ Slight improvement in trade balance may support the USD modestly.
• Prelim Wholesale Inventories m/m forecast: 0.6% vs previous 1.3%
➡️ Lower inventory growth could signal slowing business demand.
• Chicago PMI forecast: 50.6 vs previous 49.2
➡️ Forecast above 50 suggests manufacturing activity may return to expansion territory.
📊 Impact on Gold ($XAU USD):
➡️ Gold may remain volatile throughout the US session due to continuous Fed speeches.
➡️ Hawkish Fed comments could strengthen USD and pressure gold lower.
➡️ If economic data weakens or Fed tone softens, gold could recover short term.
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