- Stocks in Asia traded mixed today. Nikkei fell 0.11%, S&P/ASX 200 lost 0.04% and Kospi rose 0.53%. Indices from China struggled to find common direction
- DAX futures point to a slightly higher opening of the European session
- RBA kept the interest rate at a record low of 0.1% as expected and will maintain highly supportive monetary conditions until at least 2024
- PBoC will raise the forex reserve requirement ratio for financial institutions to 7% from 5%, effective on June 15th
- China will ease some emission reduction targets for several steel producers
- Germany set to ease COVID-19 restrictions due to lower number of cases
- Russia has resumed flights to the UK
- Partial lockdown has been imposed in the Chinese city of Guangzhou
- International flights incoming to Vietnamese capital city Hanoi will be suspended for a week
- China Caixin manufacturing PMI for May 52.0 (expected 52.0)
- Australia manufacturing PMI for May 61.8 (previous 61.7)
- Australia - Markit Manufacturing PMI for May (final) 60.4 (previous 59.7)
- Jibun Bank Japan Manufacturing PMI (final) for May 53.0
- Bitcoin trades around 37,000 USD, Ethereum rose above 2,650 USD
- CAD and GBP are the best performing major currencies while USD and CHF lag the most
Silver has been trading in an upward trend recently. Precious metal bounced off the lower limit of the ascending channel last week and today is testing local resistance at $28.27. Should a break lower occur, then the next target for bulls is located at $28.72 level. On the other hand, if sellers manage to halt advances here, then nearest support to watch lies at 23.6 Fibonacci retracement of the last upward wave which started at the end of March. Source: xStation5
