Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
US Gas Market Poised for Supercycle: Bernstein Analysts 
China's Refining Industry Faces Major Shakeup Amid Challenges 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
US dollar Index-
The US dollar index trades weak ahead of US jobs data. It hit a low of 103.99 and is currently trading around 104.07.
US JOLTS job openings declined to 8.059 million in Apr compared to a forecast of 8.34 million.
According to the CME Fed watch tool, the probability of a no-rate cut in June decreased to 99.9% from 99.10% a week ago.
Major resistance- 105/106.50
Major support- 104/103
Major US economic data-
US ADP employment data (12:15 pm GMT)
US ISM services PMI (2:00 pm GMT)
EURUSD-
EURUSD showed a minor decline after hitting a multi-month high. It hit a high of 1.09160 and is currently trading around 1.08788.
Markets anticipate the ECB would cut rates before Fed puts pressure on Euro at higher levels.
Major Economic data for the week
Jun 6th 2024,ECB Main refinancing rate (12:15 pm GMT)
Major resistance-1.0935,1.1000
Major support- 1.0848,1.0780
Yen-
The yen gained sharply on easing US treasury yields. Any break below 154.50 confirms further bearishness.
Major Resistance- 158,160
Major support- 156,154.50
Canadian Dollar
The Canadian dollar trades in a narrow range ahead of BOC monetary policy. Any dovish rate pause will drag the Canadian dollar further down.Any break below 1.3600 confirms further bearishness.
Resistance- 1.3660,1.3735
Major support- 1.3600,1.3535
