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Daily Market Reflection

Daily Market Reflection

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Daily Market Reflection

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  1. Daily Market Reflection 03 June 2022 Market Outlook The dollar was up on Thursday morning in Asia, hitting a three-week high against the yen in early Asian trading. The U.S. currency held firm and was supported by rising U.S. Treasury yields, which hit two-week peaks overnight. The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.04% to 102.34 The U.S. benchmark 10- year yield hit a two-week high of 2.951% on Wednesday, with data showing U.S. manufacturing activity picked up in May 2022 as demand for goods remained strong. The manufacturing purchasing managers’ index (PMI) at 57 and the ISM manufacturing PMI was 56.1. Fundamental News US Labour Market to Show Emerging Dichotomy of Tightness, Risks. Russia's national depository to replace Citi as Eurobond servicing agent. Hungary central bank raises 1-week deposit rate to 6.75% as inflation battle hots up. Oil prices fell on Thursday on speculation that Saudi Arabia and other OPEC members may boost crude output to compensate for a drop in Russian production. Brent crude was down $2.07, or 1.8%, at $114.22 a barrel at 0649 GMT, having risen 0.6% the previous day. U.S. West Texas Intermediate (WTI) crude dropped $2.21, or 1.9%, to $113.05 a barrel, after a 0.5% rise on Wednesday. The benchmarks have marched higher for several weeks as Russian exports have been squeezed by U.S. and EU sanctions against Moscow over its invasion of Ukraine, action Moscow calls a "special operation". INTRADAY SUPER STAR PREMIUM Date Currency 02/06 GBPUSD(S) Entry 1.2570 Exit 1.2530 Target/SL TARGET Date Commodity 02/06 XAUUSD(L) Entry 1840 Exit 1850 Target/S TARGET Global Markets Germany stocks were lower after the close on Wednesday, as losses in the Retail, Construction and Transportation & Logistics sectors led shares lower. At the close in Frankfurt, the DAX declined 0.33%, while the MDAX index lost 0.55%, and the Tec DAX index lost 0.99%. The best performers of the session on the DAX were Porsche Automobile Holding SE, which rose 4.05% or 3.08 points to trade at 79.22 at the close. Meanwhile, Bayerische Motoren Werke AG added 2.11% or 1.70 points to end at 82.33 and Volkswagen AG VZO O.N. was up 2.02% or 3.12 points to 157.80 in late Index of the Week SHANGHAI COMPOSITE INDEX The Chinese government allowed more factories and shops in Beijing and Shanghai to reopen. Things to Note Shanghai, announced tax breaks and subsidies to help businesses recover from a two-month shutdown.

  2. Global Currencies Currencies International Markets Index Value Change % Previous 4:30 pm 1.2548 1.0692 Close % Chg Change GBPUSD EURUSD USDJPY EURJPY GBPJPY GBPCHF USDCHF USDCAD EURGBP CHFJPY EURCHF AUDUSD EURAUD GBPAUD 1.2482 1.0646 +0.53% +0.43% 32813.23 -176.89 -0.54% DOW 11994.46 -86.93 -0.72% NASDAQ 129.73 130.11 -0.30% 138.71 162.76 138.53 162.48 +0.13% +0.18% 7532.95 -74.71 -0.98% FTSE 27413.88 -44.01 -0.16% NIKKEI 1.2045 1.2032 +0.11% 3195.46 +13.30 +0.42% SHANGHAI 0.9598 0.9628 -0.31% -1.00% HANG SENG 21082.13 -212-.81 1.2645 1.2656 -0.08% 0.8522 0.8523 -0.02% +0.84% DAX 14460.41 +119.94 135.18 134.99 +0.14% COMEX DATE 02/06/22 1.0264 1.0258 +0.06% COMMODITY DATE 01/06/22 % 0.7197 0.7175 +0.31% CHANGE 1.4859 1.4838 +0.14% XAUUSD 1854.41 1846.38 +0.43% 1.7435 1.7401 +0.20% XAGUSD 22.07 21.83 +1.07% Event Calendar (03rd June 2022, Friday) CRUDE 112.19 115.26 -2.66% Time All Day Currency GBP Event Forecast Previous Bank Holiday - - 6:00 pm USD Average Hourly Earnings m/m 0.4% 0.3% 6:00 pm USD Non-Farm Employment change 325K 428K 6:00 pm USD Unemployment Rate 3.5% 3.6% 7:30 pm USD ISM Services PMI 56.5 57.1 8:00 pm USD FOMC Member Brainard Speaks - - - - - - -

  3. OVERVIEW XAUUSD XAUUSDshowed breakout from the cup and handle pattern so seen on hourly charts and closed on a positive note. It may further extend gains towards 1875- 1880 while 1860 is seen as important support. positive R1 1875 R2 1880 S1 1860 S2 1850 XAGUSD XAGUSDextended the gains after the strong closing in previous session. closing indicates that it may jump towards 22.60 and higher while 21.90 may act as strong support for the metal. Strong R1 R2 S1 S2 22.50 22.70 22 21.80

  4. EURUSD EURUSD gradually increased momentum throughout the session after taking strong support near 1.0650. Now, if it sustains above 1.0750 then again it may hike towards 1.0790 and may find support in the range of 1.0700-1.0670. R1 R2 S1 S2 1.0780 1.0820 1.0690 1.0650 GBPUSD GBPUSD jumped from lower levels of 1.2470 and closed on a stronger note as compared to the previous session. If it sustains above the immediate resistance of 1.2600 then it may again gain momentum while 1.2500 is support. R1 R2 S1 S2 1.2600 1.2630 1.2520 1.2470

  5. INTRADAY SUPER STAR(PREMIUM) USDCHFmoved in support zone and consolidated support levels. SELL BELOW 0.9555/0.9535 SL ABOVE 0.9595. near the immediate 0.9575TARGETS SILVER is observed consolidating in a pattern expected to move up from the drawn level. BUY ABOVE 22.78 TARGETS 22.93 SL BELOW 22.63 XAUUSDclosed on a strong note after a one sided rally in the previous session. BUY ABOVE 1870 TARGETS 1875/1880 SL BELOW 1865.

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