Ahead of the Fed: Watching this week's economic data

This week is set up to drop more economic data and an update from the Federal Reserve. Observers will be watching to see how movement (or not) on interest rates, consumer spending and other indicators will affect metals markets.

Wednesday afternoon, the Fed is scheduled to hold a news conference outlining its latest policy. At its last meeting April 30-May 1, the Federal Open Market Committee said that inflation had remained “more persistent than previously expected,” while noting a generally resilient economy.