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| MY MultiBank |  | Fundamental AnalysisImprove your trades with up to date market briefing to help you keep abreast of important changes to the market. |
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| Market Briefing | • | A long-simmering U.S.-China trade war that hammered stocks from both nations last month may inflict still more pain on markets. Manufacturing figures from May show weakness across Asia and Europe, underscoring the global ramifications of the clash between Washington and Beijing. | | • | While the Shanghai Composite Index tumbled 8.2%, the worst month since October, and the S&P 500 Index dropped 6.6%, the price swings don’t account for weakening economic data, according to John Normand, head of cross-asset fundamental strategy at JPMorgan Chase & Co. in London. China has said it will impose tariffs on $60bn of US goods from 1 June, extending a bilateral trade war. | | • | Despite the ongoing risk-averse environment, the EUR/USD pair peaked above 1.1200, its highest in a week, as US manufacturing output unexpectedly contracted. May ISM Manufacturing PMI printed 52.1, below the expected 53.0 and the previous 52.8. | | • | As President Donald Trump threatens to impose sweeping duties on imports from Mexico, lawmakers from both sides of the aisle are warning of widespread consequences for the US economy. | | • | The GBP/USD pair recovered some ground after nearing 1.2600, underpinned by broad dollar's weakness. Rising odds for a no-deal Brexit keeping the upside limited for Sterling, poor manufacturing output also caps demand. | | • | Ahead of the Reserve Bank of Australia's critical monetary policy meeting, the AUD/USD pair extended its recovery on Monday and touched its highest level since May 13 at 0.6966 in the last hour. As of writing, the pair was trading at 0.6960, adding 0.3% on a daily basis. | | • | Gold continued scaling higher through the mid-European session on Monday and climbed to over two-month tops, around the $1317-18 region in the last hour. | | |
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| Today's News | Server Time | HK Time | Currency | Description | Expectation | | 04:30 | 09:30 | AUD | Retail Sales m/m | 0.2% | | 07:30 | 12:30 | AUD | Cash Rate | 1.25% | | 07:30 | 12:30 | AUD | RBA Rate Statement | - | | 12:30 | 17:30 | AUD | RBA Gov Lowe Speaks | - | | 16:55 | 21:55 | USD | Fed Chair Powell Speaks | - |
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| Disclaimer These analyses are for information purposes only. They do not post a buy or sell recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources. MultiBank Group assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. MultiBank Group shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without prior notice. | |
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