Market news

EUR/USD: Hawkish ECB unlikely to help the euro at the meeting – Danske Bank

United States 4-Week Bill Auction increased to 0.86% from previous 0.74%

AUD/USD surges to a fresh-weekly high around 0.7250s, set to break above the 200-DMA

USD/CAD tumbles to six week lows under 1.2600

Denmark Currency Reserves down to 534B in May from previous 535.1B

United States EIA Crude Oil Stocks Change came in at -5.068M, below expectations (-1.35M) in May 27

Gold Price Analysis: XAU/USD jumps to upper $1870s, probes multi-week highs ahead of Friday’s NFP release

BoC's Beaudry: BoC sees an increasing likelihood it might need to take rates to 3.0% or higher

United States EIA Natural Gas Storage Change registered at 90B above expectations (86B) in May 27

NFP Preview: Forecasts from 11 major banks, strength continues

Fed Vice Chair Brainard: No.1 challenge is getting inflation down, expect some cooling of the economy

EUR/USD recovers to around 1.0700, though capped by 50DMA for now pre-Friday’s NFP

United States Factory Orders (MoM) registered at 0.3%, below expectations (0.7%) in April

US Dollar Index: Too early to call a peak in the multi-month bull trend – Westpac

EUR/USD: Close above 1.07 to add some bullishness back into the technical picture – Scotiabank

USD/CAD to trend lower toward the 1.25 area – Scotiabank

EUR/USD Price Analysis: Extra upside needs to surpass 1.0780/90

GBP/USD remains vulnerable to retesting its recent lows – Westpac

USD/JPY to soar towards the early May high of 131.35 – Westpac

OPEC+ agrees to raise output by 648K BPD in July and again in August

AUD/USD: Another RBA rate hike next week might help fortify the aussie – Westpac

US Dollar Index Price Analysis: Another drop to 101.30 is not ruled out

Russia Central Bank Reserves $ up to $589.6B from previous $583.4B

Singapore Purchasing Managers Index registered at 50.4, below expectations (50.7) in May

Silver Price Analysis: XAG/USD rallies above $22.10, shrugging off barrage of US data pre-NFP

Gold Price extends rebound after mixed US data

US: Unit Labour Costs rise 12.6% QoQ in Q1 2022, versus expected 11.6% gain

US: Weekly Initial Jobless Claims fall to 200K vs. 210K expected

United States Unit Labor Costs registered at 12.6% above expectations (11.6%) in 1Q

United States Nonfarm Productivity came in at -7.3%, above expectations (-7.5%) in 1Q

United States Initial Jobless Claims below expectations (210K) in May 27: Actual (200K)

United States Continuing Jobless Claims below expectations (1.325M) in May 20: Actual (1.309M)

United States Initial Jobless Claims 4-week average dipped from previous 206.75K to 206.5K in May 27

Canada Building Permits (MoM) registered at -0.6%, below expectations (0.7%) in April

US: Private sector employment rises by 128K in May vs. 300K expected

United States ADP Employment Change registered at 128K, below expectations (300K) in May

Brazil Gross Domestic Product (YoY) came in at 1.7%, below expectations (1.8%) in 1Q

Brazil Gross Domestic Product (QoQ) below expectations (1.2%) in 1Q: Actual (1%)

GBP/USD rebounds to mid-1.2500s amid better risk appetite as focus turns to US jobs data

United States Challenger Job Cuts down to 20.712K in May from previous 24.286K

EUR/JPY Price Analysis: Extra gains remain in store

Mexico Consumer Confidence: 44.2 (May) vs previous 44.3

Mexico Consumer Confidence s.a came in at 43.8, below expectations (44.2) in May

EMU: Elevated inflation adds pressure to the ECB – UOB

USD/JPY Price Analysis: Retreats from three-week highs above 130.00

PBOC Vice Governor: China’s monetary policy will stabilize economic growth, jobs and prices

Gold Price Forecast: XAUUSD to come under further downside pressure on robust US jobs data – Commerzbank

Gold Price Forecast: XAUUSD extends the rebound above $1,850, US ADP eyed

EUR/USD could have a difficult time pushing higher in the near-term

France 10-y Bond Auction: 1.72% vs 1.51%

European Monetary Union Producer Price Index (YoY) below forecasts (38.5%) in April: Actual (37.2%)

European Monetary Union Producer Price Index (MoM) came in at 1.2% below forecasts (2.3%) in April

AUD/USD stages a solid rebound towards 0.7200 as USD wilts ahead of ADP

EUR/USD: Bulls regain control and look to revisit 1.0700

USD/MXN to surge back above the 20 level before the end of June – Rabobank

USD/MYR to tick down towards 4.30 by year-end – MUFG

USD/CNH: No changes to the mixed outlook – UOB

Brazil Fipe's IPC Inflation registered at 0.42%, below expectations (1.86%) in May

Natural Gas Futures: Still room for extra advances

Forex Today: Dollar recovery loses steam ahead of employment data

USD/JPY: Next on the upside comes 130.50 – UOB

US Dollar Index comes under pressure and drops to lows near 102.30

Turkey Exports down to $19B in May from previous $23.4B

USD/IDR: Rupiah is vulnerable to near-term fluctuations in the trade balance – MUFG

USD/CAD: Loonie's resilience to show through in outright appreciation later in the year – MUFG

ECB's Villeroy: Inflation is too high and too broad

NZD/USD to drift higher on a more sustainable basis later in the year – MUFG

AUD/USD: Recovery to unfold later in the year – MUFG

USD/CNY to stay volatile and range-bound between 6.50-6.90 – MUFG

USD/JPY: A peak may now be in place – MUFG

Austria Gross Domestic Product (QoQ): 1.5% (1Q) vs previous 2.5%

Renewed USD gains before a turning point is realised – MUFG

Spain Unemployment Change down to -99.512K in May from previous -86.26K

EUR/CHF Price Analysis: Breaks three-month-old support after strong Swiss inflation data

NZD/USD rebounds from day’s low at 0.6460, investors await US ADP Employment Change

GBP/JPY: Months from May through August are typically weak for the cross – DBS Bank

Russia may agree to OPEC+ compensating current drop in oil production – Reuters

USD/CAD: At risk of falling to 1.2500/50 over the next few weeks – Scotiabank

USD/CHF plummets 50 pips to break 0.9600 on strong Swiss Inflation, US Employment data eyed

FX option expiries for June 2 NY cut

Iron ore prices to move downward in Q4 and into 2023 – ANZ

EUR/HUF: Forint to weaken amid market’s concerns about MNB’s tightening – Commerzbank

US dollar to shurg off employment data – Commerzbank

Switzerland Consumer Price Index (MoM) above forecasts (0.3%) in May: Actual (0.7%)

Switzerland Consumer Price Index (YoY) registered at 2.9% above expectations (2.6%) in May

AUD/USD to suffer pullbacks to around 0.70 or below during June – Westpac

Gold Price fades bounce off fortnight low around $1,850 as traders await US ADP, NFP

NZD/USD: Hard landing fears undermine carry – ANZ

Gold Price Forecast: XAUUSD to extend range play around $1,850 while bulls stay cautious

GBP/USD Price Analysis: Inverted Flag confirms more downside, 1.2400 eyed

NZD/USD: Extra losses appear likely below 0.6440 – UOB

Crude Oil Futures: Door open to further decline

GBP/USD now risks a drop to 1.2405 – UOB

Fitch affirms China ratings at 'A+' with Stable outlook

Gold Futures: Extra rebound looks unlikely

BOJ’s Adachi: Tightening policy to stem yen decline would squeeze corporate funding

USD/JPY steadies around 130.00 as investors await ADP Employment Change

EUR/USD: Solid support emerges at 1.0580 – UOB

EUR/JPY Price Analysis: Dribbles around five-week top with eyes on 140.00

AUD/USD Price Analysis: Bearish Megaphone shouts a reversal below 0.7150

Asian Stock Market: Growth, inflation concerns weigh on sentiment

USD/IDR Price News: Rupiah jumps to three-week high near $14,500 after Indonesia inflation

USD/CNH corrects to near 6.7080 as odds of banning Chinese imports to the US bolster

Indonesia Core Inflation (YoY) below forecasts (2.7%) in May: Actual (2.58%)

Indonesia Inflation (YoY) registered at 3.55%, below expectations (3.6%) in May

Indonesia Inflation (MoM) came in at 0.4% below forecasts (0.41%) in May

USD/CAD Price Analysis: Further recovery hinges on 1.2685 breakout

Gold Price Forecast: XAUUSD rebound could extend towards $1,863, NFP awaited – Confluence Detector

EUR/USD steadies around d mid-1.0600s with eyes on US ADP Employment data

WTI Price Analysis: Bears eye further downside towards $108.00 ahead of OPEC meeting

USD/INR Price Analysis: Darvas Box favors volatility expansion above 78.00

GBP/USD hovers below 1.2500, downside remains favored on firmer DXY, US NFP buzz

Japan’s Matsuno suggests a minimum wage hike to JPY1000

Commodities. Daily history for Wednesday, June 1, 2022

Saudi Arabia ready to pump more oil if Russian output sinks under ban – FT

AUD/JPY bears ignore strong Aussie trade data to attack 93.00 amid risk-off mood

GBP/JPY Price Analysis: Weekly support probes retreat from one-month high above 162.00

Australian EnergyMin Bowen: Will take necessary actions to ensure affordability for energy markets

BOJ’s Adachi: Japan is still half-way to achieving the central bank’s price target

AUD/USD fails to cheer upbeat Aussie trade data below 0.7200 ahead of US ADP Employment

Australian Trade Balance higher than expected, A$10.495Bln vs. estimated A$9Bln, AUD/USD steady

Australia Exports (MoM) increased to 1% in April from previous 0%

Australia Imports (MoM) rose from previous -5% to -1% in April

Australia Trade Balance (MoM) above forecasts (9300M) in April: Actual (10495M)

USD/JPY Price Analysis: Steps back from 78.6% Fibo. amid overbought RSI

USD/CNY fix: 6.7095 vs. the last close of 6.6858

EUR/GBP marches to test two-week high at 0.8600, eurozone Retail Sales eyed

Gold Price Forecast: XAU/USD bulls eye a move into the $1,850s but are up against daily resistance

US Dollar to clear recent weak period unscathed – Reuters Poll

S&P 500 Futures stays defensive around 4,100, US Treasury yields retreat amid sluggish markets

EUR/USD Price Analysis: H&S breakdown validates bearish reversal, 1.0600 on cards

BOE needs to be more robust to tackle rising inflation – UK Times

South Korea S&P Global Manufacturing PMI came in at 51.8 below forecasts (51.9) in May

Stocks. Daily history for Wednesday, June 1, 2022

Silver Price Forecast: XAG/USD retreats towards $21.50 to justify options market pessimism

Currencies. Daily history for Wednesday, June 1, 2022

AUD/USD Price Analysis: Pokes key support near 0.7170 after Wednesday’s bearish candlestick

USD/CHF eyes to recapture weekly highs at 0.9660 ahead of Swiss inflation

Japan Monetary Base (YoY) declined to 4.6% in May from previous 6.6%

NZD/USD struggles below 0.6500 despite upbeat NZ trade numbers, US ADP, NFP eyed

Japan Foreign Bond Investment dipped from previous ¥627B to ¥-1138.9B in May 27

Japan Foreign Investment in Japan Stocks: ¥0.9B (May 27) vs previous ¥4.1B

GBP/USD Price Analysis: 100-SMA tests bears below 1.2500

USD/JPY rallies to three-week highs and reclaim 130.00 on strong US Dollar, risk-off mood

US ready to implement ban on Xinjiang goods, China eyes to keep sanctions on Australia

EUR/JPY finds cushion around 138.50 as focus shifts to eurozone Retail Sales

WTI plummets to $112.00 on recession fears, chatters of Russia’s exit from OPEC+

AUD/USD bulls could be about to throw in the towel, but the 38.2% Fibo is key

New Zealand Terms of Trade Index in line with expectations (0.5%) in 1Q

US Dollar Index (DXY) Price Analysis: Reaches a seven-day high around 102.731, on risk-aversion

USD/CAD recovery eyes 1.2700 as oil retreats, USD rise ahead of US ADP employment data

EUR/USD aims to recapture weekly lows at 1.0630 ahead of US NFP and eurozone Retail Sales

Gold Price Forecast: XAU/USD finds offers around $1,850 on firmer DXY, focus shifts to US NFP

AUD/JPY Price Analysis: Bulls regain control and lift the pair above the 50-DMA

NZD/USD Price Analysis: The battle of the bulls and bears is now on

Brazil Trade Balance registered at 3.113B, below expectations (4.566B) in May

United States API Weekly Crude Oil Stock: -1.181M (May 27) vs previous 0.567M

US Pres. Biden: Cannot instantly reduce cost of gasoline

GBP/USD bulls moving in from the depths of New York's sell-off

Forex Today: Dollar resumes advance as fears return

Fed's Barkin: Can't find a recession in the data or actions of business execs

USD/CHF Price Analysis: Bulls regain momentum but falter to reclaim 0.9650

BoE's Cunliffe says seeing evidence of slowdown in housing market

Fed's Biege Book: Most Federal Reserve districts “indicating slight to modest growth

Silver Price Forecast: XAG/USD bounces off weekly lows and aims to re-test the $22.00 figure

Fed Bullard: Skeptical on recession probabilities

USD/TRY: Ukraine conflict reinforces downside risks for lira – MUFG

US: Job openings offer another sign the labor market has approached a turning point – Wells Fargo

AUD/USD falls below 0.7200 on risk-off mood, despite positive Aussie/Chinese data

USD/KRW: S. Korean’s economy will continue to support the won, but volatility remains – MUFG

Bank of Canada: Another half point hike on tap for July - CIBC

USD/INR: The Indian rupee still faces headwinds ahead – MUFG

Gold Price Forecast: XAU/USD rebounds to $1850 despite higher US yields

Russia Unemployment Rate below expectations (4.3%) in April: Actual (4%)

Russia Industrial Output below forecasts (-1%) in April: Actual (-1.6%)