Daily Market Reflection

1. Daily Market Reflection 03 June 2022
Market Outlook
The dollar was up on Thursday morning in Asia, hitting a
three-week high against the yen in early Asian trading. The
U.S. currency held firm and was supported by rising U.S.
Treasury yields, which hit two-week peaks overnight. The U.S.
Dollar Index that tracks the greenback against a basket of other
currencies inched up 0.04% to 102.34 The U.S. benchmark 10-
year yield hit a two-week high of 2.951% on Wednesday, with
data showing U.S. manufacturing activity picked up in May
2022 as demand for goods remained strong. The manufacturing
purchasing managers’ index (PMI) at 57 and the ISM
manufacturing PMI was 56.1.
Oil prices fell on Thursday on speculation that Saudi Arabia
and other OPEC members may boost crude output to
compensate for a drop in Russian production. Brent crude was
down $2.07, or 1.8%, at $114.22 a barrel at 0649 GMT, having
risen 0.6% the previous day. U.S. West Texas Intermediate
(WTI) crude dropped $2.21, or 1.9%, to $113.05 a barrel, after a
0.5% rise on Wednesday. The benchmarks have marched
higher for several weeks as Russian exports have been squeezed
by U.S. and EU sanctions against Moscow over its invasion of
Ukraine, action Moscow calls a "special operation".
Fundamental News
 US Labour Market to Show Emerging
Dichotomy of Tightness, Risks.
 Russia's national depository to replace
Citi as Eurobond servicing agent.
 Hungary central bank raises 1-week
deposit rate to 6.75% as inflation
battle hots up.
INTRADAY SUPER STAR PREMIUM
Date Commodity Entry Exit Target/S
02/06 XAUUSD(L) 1840 1850 TARGET
Index of the Week
SHANGHAI COMPOSITE INDEX
The Chinese government allowed more factories
and shops in Beijing and Shanghai to reopen.
Things to Note
Shanghai, announced tax breaks and subsidies to
help businesses recover from a two-month
shutdown.
Global Markets
Germany stocks were lower after the close on Wednesday, as
losses in the Retail, Construction and Transportation &
Logistics sectors led shares lower. At the close in Frankfurt,
the DAX declined 0.33%, while the MDAX index lost 0.55%,
and the Tec DAX index lost 0.99%. The best performers of
the session on the DAX were Porsche Automobile Holding
SE, which rose 4.05% or 3.08 points to trade at 79.22 at the
close. Meanwhile, Bayerische Motoren Werke AG added
2.11% or 1.70 points to end at 82.33 and Volkswagen AG
VZO O.N. was up 2.02% or 3.12 points to 157.80 in late
Date Currency Entry Exit Target/SL
02/06 GBPUSD(S) 1.2570 1.2530 TARGET

2. Event Calendar (03rd
June 2022, Friday)
Time Currency Event Forecast Previous
All Day GBP Bank Holiday - -
6:00 pm USD Average Hourly Earnings m/m 0.4% 0.3%
6:00 pm USD Non-Farm Employment change 325K 428K
6:00 pm USD Unemployment Rate 3.5% 3.6%
7:30 pm USD ISM Services PMI 56.5 57.1
8:00 pm USD FOMC Member Brainard Speaks - -
- - - - -
Global Currencies
Currencies Previous
4:30 pm
Close % Chg
GBPUSD 1.2548 1.2482 +0.53%
EURUSD 1.0692 1.0646 +0.43%
USDJPY 129.73 130.11 -0.30%
EURJPY 138.71 138.53 +0.13%
GBPJPY 162.76 162.48 +0.18%
GBPCHF 1.2045 1.2032 +0.11%
USDCHF 0.9598 0.9628 -0.31%
USDCAD 1.2645 1.2656 -0.08%
EURGBP 0.8522 0.8523 -0.02%
CHFJPY 135.18 134.99 +0.14%
EURCHF 1.0264 1.0258 +0.06%
AUDUSD 0.7197 0.7175 +0.31%
EURAUD 1.4859 1.4838 +0.14%
GBPAUD 1.7435 1.7401 +0.20%
International Markets
Index Value Change %
Change
DOW 32813.23 -176.89 -0.54%
NASDAQ 11994.46 -86.93 -0.72%
FTSE 7532.95 -74.71 -0.98%
NIKKEI 27413.88 -44.01 -0.16%
SHANGHAI 3195.46 +13.30 +0.42%
HANG SENG 21082.13 -212-.81 -1.00%
DAX 14460.41 +119.94 +0.84%
COMEX
COMMODITY DATE
02/06/22
DATE
01/06/22
%
CHANGE
XAUUSD 1854.41 1846.38 +0.43%
XAGUSD 22.07 21.83 +1.07%
CRUDE 112.19 115.26 -2.66%

3. XAGUSD
XAUUSD
OVERVIEW
R1 R2 S1 S2
1875 1880 1860 1850
R1 R2 S1 S2
22.50 22.70 22 21.80
XAUUSDshowed positive
breakout from the cup and
handle pattern so seen on
hourly charts and closed on a
positive note. It may further
extend gains towards 1875-
1880 while 1860 is seen as
important support.
XAGUSDextended the gains
after the strong closing in
previous session. Strong
closing indicates that it may
jump towards 22.60 and
higher while 21.90 may act as
strong support for the metal.

4. GBPUSD
EURUSD
R1 R2 S1 S2
1.0780 1.0820 1.0690 1.0650
R1 R2 S1 S2
1.2600 1.2630 1.2520 1.2470
EURUSD gradually increased
momentum throughout the
session after taking strong
support near 1.0650. Now, if
it sustains above 1.0750 then
again it may hike towards
1.0790 and may find support
in the range of 1.0700-1.0670.
GBPUSD jumped from lower
levels of 1.2470 and closed on
a stronger note as compared
to the previous session. If it
sustains above the immediate
resistance of 1.2600 then it
may again gain momentum
while 1.2500 is support.

5. SILVER is observed consolidating
in a pattern expected to move up
from the drawn level.
BUY ABOVE 22.78 TARGETS
22.93 SL BELOW 22.63
INTRADAY SUPER STAR(PREMIUM)
USDCHFmoved in support zone and
consolidated
support levels.
near the immediate
SELL BELOW 0.9575TARGETS
0.9555/0.9535 SL ABOVE 0.9595.
XAUUSDclosed on a strong note after a
one sided rally in the previous session.
BUY ABOVE 1870 TARGETS 1875/1880
SL BELOW 1865.

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