Morning Brew - June 1st Morning Brew - June 1st Morning Brew - June 1st

Morning Brew - June 1st

Erik Schafhauser

Senior Relationship Manager

Good Morning

And Welcome to June. May was fairly decent to Equities, Dax gained 2.4%, the Dow 1.8%% Nasdaq 100 lost 1.4%, the Nikei gained 2%.

After the holiday in the US and the UK yesterday, the start in to June is friendly with Indexes up app 0.3%, the USD Index falls below the 90 again despite the US 10 Year Yield rising to 1.62%. The EURUSD rises to 1.2225, GBPUSD to 1.4225 and Gold and Silver rise to 1914 and 28.30, the 1 month volatility in XAGUSD remains above 30% vs 13% for XAUUSD

In China the PMI came higher than expected but Caixin Insights sees inflationary pressure and supply chin constraints weighing.

The UK House prices came much higher than expected, +1.8 monthly and +10.9% anually.

While there are many data releases and surprises can move markets at any point in time, overall focus remains on the stimulus and tapering developments in the US: The Non-Farm Payroll and unemployment rate on Friday is seen as the next important gauge on what to expect on the tapering front. A miss would calm the hawks while a strong number would fuel the discussion on faster tapering.

Safe Trading

Economic Events for the next few days:

Local Start Date

Local Time

Country/Region

Indicator Name

Period

Reuters Poll

Prior

1 Jun 2021

08:00

United Kingdom

Nationwide house price mm

May

2.1%

1 Jun 2021

08:00

United Kingdom

Nationwide house price yy

May

7.1%

1 Jun 2021

08:00

Russia

Markit Mfg PMI

May

50.4

1 Jun 2021

08:15

India

Cash Reserve Ratio

4 Jun

1 Jun 2021

08:15

India

Repo Rate

4 Jun

1 Jun 2021

08:15

India

Reverse Repo Rate

4 Jun

1 Jun 2021

09:00

Turkey

Manufacturing PMI

May

50.4

1 Jun 2021

09:45

Italy

Markit/IHS Mfg PMI

May

60.7

1 Jun 2021

09:50

France

Markit Mfg PMI

May

59.2

1 Jun 2021

09:55

Germany

Markit/BME Mfg PMI

May

64.0

1 Jun 2021

09:55

Germany

Unemployment Chg SA

May

9k

1 Jun 2021

09:55

Germany

Unemployment Rate SA

May

6.0%

6.0%

1 Jun 2021

10:00

Euro Zone

Markit Mfg Final PMI

May

62.8

1 Jun 2021

10:30

United Kingdom

Markit/CIPS Mfg PMI Final

May

66.1

1 Jun 2021

11:00

Italy

GDP Final QQ

Q1

-0.4%

1 Jun 2021

11:00

Italy

GDP Final YY

Q1

-1.4%

1 Jun 2021

11:00

Turkey

ITO Istanbul Retail Prices

May

1.01%

1 Jun 2021

11:00

Euro Zone

HICP Flash YY

May

1.9%

1.6%

1 Jun 2021

11:00

Euro Zone

HICP-X F&E Flash YY

May

0.8%

1 Jun 2021

11:00

Euro Zone

Unemployment Rate

Apr

8.1%

8.1%

1 Jun 2021

14:00

Brazil

GDP QQ

Q1

3.2%

1 Jun 2021

14:00

Brazil

GDP YY

Q1

-1.1%

1 Jun 2021

14:00

New Zealand

Milk Auctions

1 Jun, w/e

4,150

1 Jun 2021

14:30

Canada

GDP QQ Annualized

Q1

9.6%

1 Jun 2021

14:30

Canada

GDP MM

Mar

0.4%

1 Jun 2021

15:00

Brazil

Markit Mfg PMI

May

52.3

1 Jun 2021

15:30

Canada

Markit Mfg PMI SA

May

57.2

1 Jun 2021

15:45

United States

Markit Mfg PMI Final

May

61.5

1 Jun 2021

16:00

United States

ISM Manufacturing PMI

May

60.8

60.7

1 Jun 2021

16:30

Mexico

Markit Mfg PMI

May

48.4

2 Jun 2021

02:30

Indonesia

IHS Markit PMI

May

54.6

2 Jun 2021

03:30

Australia

Real GDP QQ SA

Q1

3.1%

2 Jun 2021

03:30

Australia

Real GDP YY SA

Q1

-1.1%

2 Jun 2021

14:00

Brazil

Industrial Output YY

Apr

10.5%

2 Jun 2021

15:00

Mauritius

REPO Rate

Q2

1.85%

2 Jun 2021

23:00

Chile

Interest Rate

May

0.50%

2 Jun 2021

Indonesia

Inflation YY

May

1.42%

3 Jun 2021

02:30

Japan

Services PMI

May

49.5

3 Jun 2021

03:30

Australia

Retail Sales MM Final

Apr

1.1%

3 Jun 2021

03:30

Australia

Trade Balance G&S (A$)

Apr

5,574M

3 Jun 2021

03:45

China (Mainland)

Caixin Services PMI

May

56.3

3 Jun 2021

06:15

Saudi Arabia

IHS Markit Comp PMI

May

55.2

3 Jun 2021

07:00

India

IHS Markit Svcs PMI

May

49.0

54.0

3 Jun 2021

08:00

United Kingdom

Reserve Assets Total

May

178,963.97M

3 Jun 2021

08:00

Russia

Markit Services PMI

May

55.2

3 Jun 2021

09:00

Turkey

CPI MM

May

1.68%

3 Jun 2021

09:15

South Africa

Std Bank Whole Econ PMI

May

53.7

3 Jun 2021

09:50

France

Markit Serv PMI

May

56.6

3 Jun 2021

09:50

France

Markit Comp PMI

May

57.0

3 Jun 2021

09:55

Germany

Markit Services PMI

May

52.8

3 Jun 2021

09:55

Germany

Markit Comp Final PMI

May

56.2

3 Jun 2021

10:00

Euro Zone

Markit Serv Final PMI

May

55.1

3 Jun 2021

10:00

Euro Zone

Markit Comp Final PMI

May

56.9

3 Jun 2021

14:30

United States

Initial Jobless Clm

24 May, w/e

3 Jun 2021

15:45

United States

Markit Comp Final PMI

May

68.1

3 Jun 2021

15:45

United States

Markit Svcs PMI Final

May

70.1

3 Jun 2021

16:00

United States

ISM N-Mfg PMI

May

62.9

62.7

4 Jun 2021

03:00

Philippines

CPI YY

May

4.5%

4 Jun 2021

08:15

India

Cash Reserve Ratio

4 Jun

4.00%

3.50%

4 Jun 2021

08:15

India

Repo Rate

4 Jun

4.00%

4.00%

4 Jun 2021

08:15

India

Reverse Repo Rate

4 Jun

3.35%

3.35%

4 Jun 2021

14:30

United States

Non-Farm Payrolls

May

621k

266k

4 Jun 2021

14:30

United States

Unemployment Rate

May

5.9%

6.1%

4 Jun 2021

14:30

United States

Average Earnings YY

May

0.3%

4 Jun 2021

14:30

Canada

Employment Change

May

-207.1k

4 Jun 2021

14:30

Canada

Unemployment Rate

May

8.1%

4 Jun 2021

15:00

Brazil

Markit Services PMI

May

42.9

4 Jun 2021

15:00

Brazil

Markit Composite PMI

May

44.5

4 Jun 2021

16:00

United States

Factory Orders MM

Apr

1.1%

 

(Refinitiv)

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