[Next Week's Macro Outlook: The Week the Fed Sets the Tone! The Fed Faces the 'Ultimate Showdown'] BlockBeats News, November 30 – This week, due to the impact of the U.S. Thanksgiving holiday, market trading volume has remained very low, which is a typical characteristic of Thanksgiving trading. However, because the CME experienced a 'network disconnection' on Friday due to a data center failure, spot gold and silver saw significant volatility. After futures prices resumed quoting, they continued to rise, with gold prices increasing nearly $150 this week, climbing back above $4,200. In terms of data, U.S. September PPI and retail sales data performed poorly, and the weekly private sector employment data released by ADP was also quite weak. Tuesday 09:00 – Federal Reserve Chair Jerome Powell delivers a speech at a commemorative event; Tuesday 23:00 – Federal Reserve Governor Michelle Bowman testifies before the House Committee. Wednesday 21:15 – U.S. November ADP employment change; Wednesday 21:30 – U.S. September import price index month-on-month; Wednesday 22:15 – U.S. September industrial production month-on-month; Wednesday 22:45 – U.S. November S&P Global Services PMI final reading; Wednesday 23:00 – U.S. November ISM Non-Manufacturing PMI; Thursday 21:30 – U.S. initial jobless claims for the week ending November 29; Friday 23:00 – U.S. December one-year inflation expectations preliminary reading, December University of Michigan Consumer Sentiment Index preliminary reading, September core PCE price index year-on-year, September personal spending month-on-month, and September core PCE price index month-on-month. If November's service sector activity shows healthy growth again, it will support the hawkish stance within the Federal Reserve. However, if it suddenly drops to 50.0 or lower, it will provide justification for an immediate rate cut. Equally important is next Wednesday's ADP employment report. The official November non-farm payrolls report will not be released until December 16, and with October's report canceled, the ADP private sector employment survey will provide critical updates on the labor market.