Global markets are entering the session in an environment of strong risk appetite, driven by record highs in the S&P 500 and MSCI ACWI, as well as a rally in semiconductor stocks. At the same time, sentiment remains fragile due to tensions in the Middle East, which continue to support oil prices and increase volatility in commodity markets. In Asia, attention was drawn to weaker Australian GDP data, a strong increase in China’s Caixin Services PMI, and the stabilization of Japan’s Services PMI around the 50-point threshold.
Today’s macroeconomic calendar is primarily focused on services-sector data from Europe and the United States, as well as developments in the US labor market. Key releases for the dollar, bond markets, and equity indices include the ADP employment report, the ISM Services PMI, factory orders data, and the Fed’s Beige Book.
Key events of the day:
- 09:55 — Germany: Services PMI, consensus 47.8
- 10:00 — Eurozone: Services PMI, consensus 46.4
- 11:00 — Eurozone: PPI inflation y/y, consensus 4.8%
- 14:15 — United States: ADP Employment Report, consensus 116K
- 15:45 — United States: S&P Global Services PMI, consensus 50.9
- 16:00 — United States: ISM Services PMI, consensus 53.7, and Factory Orders, consensus 4.6% m/m
- 16:30 — United States: Weekly EIA Crude Oil Inventories
- 20:00 — United States: Fed Beige Book
Morning wrap (03.06.2026)
Chart of the Day: What's next for EURUSD? (02.06.2026)
Economic Calendar: Key readings on the schedule (02.06.2026)
Morning Briefing: Inconsistent messages ahead of key data (02.06.2026)
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
