EUR/USD: gains further before key macro data

EUR/USD: gains further before key macro data

2021-05-31 • Updated

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Ichimoku Kinko Hyo

GBP/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

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 XAG/USD: Silver continuous to stand below 23.6% retracement area. Bullish pressure is growing during the last hours and before NFP.

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EU Market View

Asian shares were trying to extend their recent gains to a third week on Monday in the hope critical U.S. jobs figures show the expected revival in hiring in May and keep the global economic recovery on track. Oil prices climbed in early Asian trade by the bright outlook for fuel demand growth in the next quarter, while investors looked ahead to the OPEC+ meeting this week to see how producers will respond. Gold moves higher on Monday morning in Asia against a weaker dollar and lower bond yields after the worlds’ largest gold consumer China released key economic data. The dollar moves down but traded near a two-month high against the yen, on Monday morning in Asia. Investors digested mixed macro from China and strong inflation data from the U.S., while also expecting the U.S. Federal Reserve to start tapering its asset buying scheme. 

EU Key Point

  • China reportedly holds meeting on measures to cope with ageing population, optimizing birth policy.
  • France's Le Maire: Convinced that economy will grow 5% this ye
  • Japan May consumer confidence index 34.1 vs 33.0 expecte
  • Heads up: Germany states' CPI readings due later toda

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