Analysis of gold news: In the U.S. market on Thursday (June 6), the number of initial jobless claims in the United States exceeded expectations. The market’s expectations for an interest rate cut by the Federal Reserve in September have increased. The global interest rate cuts are on the rise, and the gold market is supported. Data released by the U.S. Department of Labor showed that the number of people filing for unemployment benefits increased to 229,000 in the week ending June 1, exceeding market expectations of 220,000. The rise in the data echoes reports earlier this week that U.S. job openings fell more than expected in April, signaling tensions in the job market. However, Challenger data also showed that U.S. employers last month announced the fewest layoffs since December, providing some solace for the stability of the job market. Although the US Institute for Supply Management (ISM) released higher-than-expected services PMI data, market expectations that the Federal Reserve may cut interest rates as early as September continue to rise. This expectation has a positive impact on the gold market, as interest rate cuts will reduce the opportunity cost of holding non-yielding assets, thereby increasing the attractiveness of gold. This Friday, the U.S. non-farm payrolls (NFP) report became the focus of market attention. Nonfarm payrolls were expected to increase by 185,000 in May, but JOLTS job openings data and ADP employment change data earlier this week were both lower than expected, reducing investors’ optimistic expectations for the nonfarm payrolls report. If the non-farm payrolls data is weak, it may put pressure on the US dollar and increase market expectations for an early interest rate cut by the Federal Reserve, which will further support gold prices. Globally, expectations of interest rate cuts are forming a trend. The Bank of Canada (BoC) and the European Central Bank (ECB) have successively lowered overnight interest rates, while the Swiss National Bank (SNB) may also make a decision to cut interest rates at its meeting on June 20. The moves further supported gold prices as a downward trend in global interest rates bolstered gold’s appeal as a safe-haven asset.
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the 2385 first-line resistance at the top and the 2355 first-line support at the bottom.
Analysis of crude oil news: In the U.S. market on Thursday (June 6), international oil prices rebounded strongly, with U.S. crude oil currently trading around $75.67 per barrel. Oil prices closed higher on Wednesday, recovering from the previous trading day’s losses, and the monthly difference further recovered, which means that oil prices have passed their most pessimistic moment. The bald positive line boosted morale, but the process was not smooth. After investors vented their disappointment with a plunge on the first trading day after the meeting, oil prices began to struggle to organize a rebound in the tug-of-war on Tuesday night, but the whole process can be seen to be very difficult. , the oversold recovery path is tortuous, and a large number of disorderly shocks and retracements appeared in the rebound of oil prices, which fully reflects that low market confidence makes investors cautious. EIA released weekly data showing that commercial crude oil inventories increased by 1.233 million barrels. Although it exceeded market expectations, it was significantly less than the 4 million barrels of accumulated inventories announced by API in the early morning. Refined oil inventories also exceeded expectations, but because the data was better than API data, the The news had little impact on oil prices after it was announced. In addition to investors paying attention to changes in the fundamentals of the crude oil market, macro factors are also having an impact on oil prices. The United States released a number of macro data on Wednesday night, the Bank of Canada cut interest rates as scheduled, and the dollar fluctuated, which also caused disturbances in the commodity market. The interest rate decisions announced by European and American central banks on Thursday are expected to still affect the market rhythm. In addition, oil prices have also begun to respond to geopolitical factors, which means that investors have begun to stabilize after their pessimism was vented. Oil prices have begun to recover from oversold conditions, and short-term lows are likely to have appeared. However, it will still take time to repair the severely damaged confidence, especially It is necessary to see signs of improvement at the supply and demand level. On the disk, it is a good sign that the monthly difference has rebounded. For investors who are concerned about the rebound in the third quarter, pay attention to the rhythm and participate with caution.
Today’s crude oil strategy: It is recommended to focus on rebounding high, supplemented by callbacks low and long. Focus on the first-line resistance of 76.7 at the top and the first-line support of 73.7 at the bottom.
Operations need to be done with caution and are recommended for reference only.
