PANews, June 20 – This week, the market's main theme repeatedly swung between cooling geopolitical risks and a hawkish pivot from the Federal Reserve, and the market's optimism did not fully persist. Gold became one of the assets under the most pressure this week. Affected by a stronger US dollar, rising real yields on US Treasuries, and hawkish signals from the Fed, spot gold extended its correction, falling for a third consecutive week. Heading into next week, barring surprises, market focus will continue to revolve around Middle East geopolitics and US PCE data. Below are the key points the market will focus on in the new week:

Monday 09:00, China's one-year loan prime rate as of June 22;

Tuesday 20:15, US ADP employment change for the week ending June 6;

Tuesday 21:45, US S&P Global Manufacturing PMI preliminary for June, US S&P Global Services PMI preliminary for June;

Wednesday 04:30, API crude oil inventories for the week ending June 19;

Wednesday 22:30, EIA crude oil inventories for the week ending June 19;

Thursday 04:00, Federal Reserve releases annual bank stress test results;

Thursday 20:30, US initial jobless claims for the week ending June 20, US core PCE price index year-over-year for May, US personal spending month-over-month for May, US annualized GDP quarter-over-quarter final for Q1, US real personal consumption expenditures quarter-over-quarter preliminary for Q1, US real personal consumption expenditures quarter-over-quarter final for Q1, US core PCE price index annualized quarter-over-quarter final for Q1, US core PCE price index month-over-month for May, US durable goods orders month-over-month for May.

The core PCE price index, which the Fed currently values most, will be released next Thursday, along with personal income and spending data for May. The market had originally assumed the Fed could overlook the latest rebounds in CPI and PCE indicators, but Waller's unexpected display of determination to bring inflation down to 2% has firmly pulled market attention back to the data performance.

Friday 03:40, FOMC permanent voting member and New York Fed President Williams delivers a speech;

Friday 06:30, 2027 FOMC voting member and Chicago Fed President Goolsbee delivers a speech;

Friday 23:30, 2026 FOMC voting member and Minneapolis Fed President Kashkari delivers a speech.

Spot gold has rebounded to $4,900 per ounce, fully recovering yesterday's losses.

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