XAUUSD:Fundamental analysis

The current U.S. debt ceiling is 31.4 trillion U.S. dollars, which is approximately equivalent to 120% of the country's annual economic output.In January this year, U.S. debt hit this ceiling.Due to the pressure caused by falling taxes, if Congress fails to raise the federal government's debt ceiling, the United States may default on its debt as early as June 1.U.S. President Joe Biden met with U.S. House of Representatives Speaker McCarthy at 5:30 a.m. on the 23rd to discuss the debt ceiling issue. The market is currently waiting for an effective result.In addition, the market continues to pay attention to changes in the situation in Russia and Ukraine.On May 23, key data to pay attention to: the revised monthly rate of construction permits in the United States in April, and the initial value of the Markit manufacturing PMI in the United States in May.

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