From IG Group: 2024-06-02 05:00:29

The ECB is set to cut interest rates by 25 basis points this week. US Jobs Report on Friday. Gold prices eyeing early-May lows. Markets await ECB President Christine Lagarde’s signal for the timing of the next rate cut.

US Jobs data to be released before Friday’s report. Market has pushed back US rate cuts due to high inflation. Any weakening in US Jobs market may lead to re-pricing of rate cuts. Bank of Canada policy decision, Australian GDP, and US ISM Services data also of interest.

US dollar under pressure, near two-month low. A break below 200-day moving average could see the greenback trade below 104.00. Gold vulnerable to move lower, testing $2,280/oz. US NFPs will dictate gold’s future performance. Nasdaq 100 on a decline, but Friday’s price action may give hope for higher prices.



Read more at IG Group: ECB Rate Decision, US NFPs – USD, Gold, Euro, Nasdaq