Morning wrap (02.06.2023)

6:39 AM 2 June 2023
  • US indices finished the first trading session of a new month with decent gains. S&P 500 gained 0.99%, Dow Jones moved 0.47% higher while Nasdaq surged 1.28%. Russell 2000 added 1.05%

  • Indices from Asia-Pacific traded higher today. Nikkei and Kospi gained 1%, S&P/ASX 200 moved 0.4% higher while Nifty 50 added 0.2%. Indices from China rallied

  • DAX futures point to a higher opening of the European cash session

  • US Senate passed a debt ceiling bill and it will now head to the White House for President Biden to sign. Biden will deliver a speech at 7:00 pm ET today (00:00 am BST) and it is expected that he will sign the bill then

  • Fed Harker said the US central bank is approaching a point where it can hold rates in place. Harker said that incoming data is being monitored closely in order to assess whether any additional tightening is needed

  • ECB Panetta said that European Central Bank has not yet reached rate peak but caution that it is not the time to go fast on rates

  • BoJ Governor Ueda said that the Bank of Japan will maintain massive monetary easing given that it will take some time to achieve the CPI target.

  • Australian home loans dropped 3.8% MoM in April (exp. +3.0% MoM)

  • Cryptocurrencies trade higher - Bitcoin gains 0.8%, Ethereum adds 1.3% while Dogecoin trades 0.7% higher

  • Energy commodities trade slightly higher - oil adds 0.5% while US natural gas prices advance 0.4%

  • AUD and NZD are the best performing major currencies while USD and JPY lag the most

GOLD extends recovery move launched after a failure to break below $1,950 support zone. Precious metal is supported by a dovish turn from Fed members. Source: xStation5

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits