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Message: [QUOTE="HFM, post: 221083, member: 32345"] [b]Date : 2nd June 2023. Market Update – June 2nd – Stocks higher as US debt deal is signed off![/b] [URL='https://analysis.hfm.com/wp-content/uploads/2018/11/eu_update_pic_nov18-1.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2018/11/eu_update_pic_nov18-1-696x391.jpg[/IMG][/URL] [B]June kicked off with rallies in Treasuries and on Wall Street thanks diminished fears of a Fed rate hike and a debt default. USDIndex slumped. Stock markets across Asia moved higher while, t[/B]he decline in yields helped support equities, especially[B] big tech which had stumbled[/B]. [I]The US Senate has approved a fiscal deal between the White House and congressional Republicans, ending a weeks-long political stand-off that risked triggering an unprecedented debt default in the world’s largest economy.[/I] Markets are looking for a pause from [B]the Fed in June as debt drama is out of the way,[/B] the price data has weakened and there is a continued weakness in manufacturing. The repricing of Fed outlooks saw the probability of another 25 bp tightening on the 14th [B]trimmed to 25%[/B] from 70% at the start of the week. [LIST] [*][B]FX [/B]– [B]USDIndex [/B]closed at[B] 103.58 [/B]from a peak of [B]104.50.[/B] [B]EUR[/B] dipped to [B]1.0778[/B], [B]JPY [/B]extended losses to [B]138.60[/B] and [B]Cable[/B] spiked to above [B]1.2500 at 1.2543.[/B] [*][B]Stocks – Hang Seng [/B]rose nearly[B] 4%. [/B]The [B]Nikkei [/B]closed [B]1.2% [/B]higher, the [B]US100[/B] is up by more than 1.29%, while the [B]US500[/B] was up 0.99% and the [B]US30[/B] 0.47% higher. Nvidia another 5% up, Salesforce 4.69% down. [/LIST] [URL='https://analysis.hfm.com/wp-content/uploads/2023/06/2023-06-02_09-38-50.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/06/2023-06-02_09-38-50.jpg[/IMG][/URL] [LIST] [*][B]Commodities – USOil[/B] have stabilised and backed up from recent lows amid an aversion of a default on the US’s liabilities. Currently it is at [B]70.92[/B] from [B]66.85[/B] yesterday. [*][B]Gold – rallied to[/B] [B]$1983.[/B] [*][B]Cryptocurrencies [/B]– [B]BTC[/B] recovered yesterday’s losses and is currently retesting a move above [B]$27k[/B]. [/LIST] [B]Today – NFP day, with nonfarm payrolls projected rising 180k in May[/B], though recent reports on jobless claims, ADP, and some of the PMIs suggest upside risks. [URL='https://analysis.hfm.com/wp-content/uploads/2023/06/2023-06-02_09-59-15.jpg'][IMG]https://analysis.hfm.com/wp-content/uploads/2023/06/2023-06-02_09-59-15.jpg[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]AUDJPY (+0.75%) [/B]spiked to[B] 91.80[/B]. MAs currently flat, MACD histogram & signal line positive and rising, RSI 72 & flat. [b]Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report.[/b] Click [url=https://www.hfm.com/hf/en/trading-tools/economic-calendar.html][b]HERE[/b][/url] to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click [url=https://www.hfm.com/en/trading-tools/trading-webinars.html][b]HERE[/b][/url] to register for FREE! [url=https://analysis.hfm.com/][b]Click HERE to READ more Market news.[/b][/url] [b] Andria Pichidi Market Analyst HFMarkets Disclaimer:[/b] This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission. [/QUOTE]

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