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Trends & Analysis
News

Broadcom’s stock jumps on profit beat, stock split

News

Crude oil reverses trend on US data

News

Is Apple’s bull run just getting started?

News

Oracle shares spike despite FQ4 earnings miss

News

EUR/USD plunges after parliament elections

News

Is a big move coming for AMD?

Trends & Analysis
News

Broadcom’s stock jumps on profit beat, stock split

News

Crude oil reverses trend on US data

News

Is Apple’s bull run just getting started?

News

Oracle shares spike despite FQ4 earnings miss

News

EUR/USD plunges after parliament elections

News

Is a big move coming for AMD?

Weekly Market Preview

Week Ahead Preview:

3rd of June

 

Friday, May 30, 2024

Last week, US ten-year bond yields rose, coinciding with a decline in major US stock indices, including the Dow Jones Index. This was primarily due to indications that US inflation rates may take longer to decrease towards their 2% target, prompting the Federal Reserve to delay any interest rate cuts for longer than expected. Some Fed members reinforced this by hinting at potential rate hikes instead of cuts. Consequently, the market adjusted its rates expectations, reducing the likelihood of a rate cut in September and anticipating a single rate cut by December. Investors will gain more insight into the US economy’s performance from the May non-farm payrolls report, due at the end of this week.

In contrast, markets expect the Bank of Canada to cut interest rates by 25 basis points at its meeting this week, lowering them from 5.00% to 4.75%. Traders will also follow the Bank of Canada’s press conference for more insights into future Canadian monetary policy. The Bank of Canada is not the only central bank expected to reduce interest rates this week. The European Central Bank might also cut interest rates by 25 basis points at its Thursday meeting, reducing them from 4% to 3.75%. Investors will tune in to ECB President Christine Lagarde’s press conference for more guidance on future interest rate directions and whether further cuts are being.

 

Economic Data Highlights (As per UAE time) 

 

Monday 3rd of June
  • EUR- Manufacturing PMI (May)
  • GBP- Manufacturing PMI (May)
  • USD- ISM Manufacturing PMI (May)
Tuesday 4th of June
  • CHF- inflation rates (May)
  • EUR- Unemployment rates (Germany- May)
  • USD- Factory orders (Apr)
Wednesday 5th of June
  • AUD- GDP (Q1)
  • EUR- Services PMI (May)
  • GBP- Services PMI (May)
  • USD- ADP employment change (May)
  • Bank of Canada rate decision & press conference
  • USD- ISM- Non- manufacturing PMI (May)
  • US crude oil inventories
Thursday 6th of June
  • ECB rate decision and press conference
Friday 7th of June
  • EUR- GDP (Q1)
  • USD- Nonfarm payrolls (May)
  • USD- Unemployment rates (May)
  • CAD- employment change and unemployment rates (May)

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