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Sommario:Market OverviewIn early Asian trading on Tuesday, June 3, gold prices climbed to around $3,390 per ounce after rallying more than 2% on Monday to a three-week high. A weaker U.S. dollar, heightened ge
Market Overview
In early Asian trading on Tuesday, June 3, gold prices climbed to around $3,390 per ounce after rallying more than 2% on Monday to a three-week high. A weaker U.S. dollar, heightened geopolitical tensions, and growing economic uncertainty fueled demand for safe-haven assets. Meanwhile, U.S. crude oil rose to around $63.10 per barrel, gaining nearly 4% on Monday. Despite OPEC+ maintaining its output hike strategy, supply concerns were reignited by wildfires in Canadas oil-producing regions. Additionally, renewed tariff threats from President Trump added pressure on the greenback.
Key Events to Watch
● U.S. Manufacturing Contracts for Third Consecutive Month
The latest data from ISM showed U.S. manufacturing activity shrinking for the third straight month. The May ISM Manufacturing PMI came in at 48.5, missing expectations of 49.2 and marking the lowest level since November 2023. A reading below 50 indicates contraction. Notably, trade-related subcomponents reflected the growing uncertainty surrounding Trumps evolving tariff policies. The imports index plunged to a 16-year low—highlighting a sharp contrast to early-year stockpiling ahead of tariffs—while exports dropped to a five-year low, potentially signaling retaliatory measures by U.S. trade partners.
● Russia-Ukraine Tensions Escalate
Just one day before the second round of direct peace talks, Ukrainian forces launched a major drone offensive targeting multiple Russian military airfields. Ukraine claimed it destroyed 41 Russian aircraft across four airbases, including strategic bombers capable of carrying nuclear weapons. Russia stated that it thwarted attempts to strike five airfields but acknowledged that fires broke out at two of them, confirming damage to several aircraft.
Data to Watch Closely
22:00 GMT+8 – U.S. April JOLTs Job Openings (in millions), U.S. April Factory Orders (MoM)
Disclaimer:
Le opinioni di questo articolo rappresentano solo le opinioni personali dell’autore e non costituiscono consulenza in materia di investimenti per questa piattaforma. La piattaforma non garantisce l’accuratezza, la completezza e la tempestività delle informazioni relative all’articolo, né è responsabile delle perdite causate dall’uso o dall’affidamento delle informazioni relative all’articolo.
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ATFX
GO Markets
FBS
BG SAXO
KVB
FXCM
ATFX
GO Markets
FBS
BG SAXO
KVB
FXCM
ATFX
GO Markets
FBS
BG SAXO
KVB
FXCM