MC Prime: Daily Market Update 0509

🔹 The US and the UK reached a preliminary trade agreement, temporarily boosting US stock indices.

🔹 The likelihood of the Fed cutting interest rates in June has decreased.

🔹 Trump plans to raise taxes on incomes

above $2.5 million, causing the Nasdaq to lose momentum at the end of the session.

🔹 News of the US potentially reaching a new trade deal sparked slight optimism, leading to profit-taking pressure on gold.

🔹 The reduced probability of an early Fed rate cut intensified selling pressure on gold, pushing its price below $3,300.

📌 Event:

Tonight, there are no significant economic data releases from the US, but several Federal Reserve officials are scheduled to speak. If their remarks collectively reduce the likelihood of a rate cut in June, gold may continue its corrective downward trend.