Posted at 04 June 2026 / Categories Market Roundups
Market Roundup
• US S&P Global Services PMI (May): 50.7, 50.9 forecast, 50.9 previous
•US S&P Global Composite PMI (May): 51.5, 51.7 forecast, 51.7 previous
•US ISM Non-Manufacturing PMI (May): 54.5, 53.7 forecast, 53.6 previous
•US ISM Non-Manufacturing Employment (May): 47.9, 48.8 forecast, 48.0 previous
•US ISM Non-Manufacturing Prices (May): 71.3, 72.3 forecast, 70.7 previous
•US Factory Orders (MoM) (Apr): 4.8%, 4.6% forecast, 1.8% previous
•US Factory Orders ex Transportation (MoM) (Apr): 1.3%, 1.8% previous
•US Durables Excluding Transport (MoM) (Apr): 1.1%, 0.9% previous
•US ISM Non-Manufacturing Business Activity (May): 57.7, 55.9 previous
•US ISM Non-Manufacturing New Orders (May): 57.3, 53.4 forecast, 53.5 previous
•US Durables Excluding Defense (MoM) (Apr): 8.1%, 8.1% forecast, -0.3% previous
•US All Car Sales (May): 2.66M, 2.69M previous
•US All Truck Sales (May): 13.43M, 13.32M previous
•US Crude Oil Inventories: -7.974M, -2.900M forecast, -3.327M previous
Looking Ahead Economic Data (GMT)
• Japan Household Spending (MoM) (Apr): 0.8% forecast, -1.3% previous
• Japan Household Spending (YoY) (Apr): -1.5% forecast, -2.9% previous
• Japan Overall Wage Income of Employees (Apr): 3.2% forecast, 2.7% previous
• Japan Overtime Pay (YoY) (Apr): 3.20% forecast, 1.90% previous
• Japan Foreign Reserves (USD) (May): 1,383.0B previous
• Japan Leading Index (MoM) (Apr): 0.8% previous
• Japan Coincident Indicator (MoM) (Apr): -1.7% forecast, 0.2% previous
• Japan Leading Index (Apr): 114.3 forecast, 114.0 0 previous
Looking Ahead Events And Other Releases (GMT)
• No Events Ahead
Currency Summaries
EUR/USD : The euro dipped against dollar on Wednesday after Euro zone private sector activity shrank in May.Euro zone private sector activity shrank at the fastest rate in 18 months in May as waning demand for goods and services a key gauge of economic health dragged output lower for a second month while cost pressures hit their highest level in more than three years, a survey showed.The S&P Global Eurozone Composite PMI Output Index ?fell to 48.5 in May from April's 48.8, its lowest reading since November 2024, but above ?a preliminary estimate of 47.5. The headline services PMI edged up marginally to 47.7 from ?47.6, outperforming the 46.4 flash number. Immediate resistance can be seen at 1.1648(May 25th high), an upside break can trigger rise towards 1.1693(SMA 20).On the downside, immediate support is seen at 1.1577(23.6%fib), a break below could take the pair towards 1.1561(Lower BB).
GBP/USD: The British pound dipped to hit two day low against the dollar as investors remained focused on the conflict in the Middle East, and the impact a prolonged war would have on monetary policy.Talks to end the war remain at a stalemate, while hostilities flared again on Wednesday as an Iranian missile attack damaged Kuwait's airport and ?the U.S. military carried out strikes near the Strait of Hormuz. Britain’s greater reliance on imported energy leaves it more exposed than the United States to ?higher global fuel costs. While prices have eased from their late April highs, they remain significantly ?above their levels before the U.S.-Israeli attacks on Iran on February 28 that ignited the war. Immediate resistance can be seen at 1.3505(SMA 20), an upside break can trigger rise towards 1.3526(50%fib).On the downside, immediate support is seen at 1.3488(Daily low), a break below could take the pair towards1.3382(61.8%fib).
USD/CAD: The Canadian dollar fell to an eight-week low against the U.S. dollar on Wednesday as rising geopolitical tensions and trade concerns weighed on investor sentiment.Fresh escalation in the Middle East added to market unease, with Iranian strikes on Kuwait damaging its airport and injuring dozens, while U.S. forces conducted operations near the Strait of Hormuz. Efforts to de-escalate the conflict have made limited progress so far.On the trade front, the Trump administration proposed tariffs of up to 12.5% on imports from 60 economies, including Canada, citing alleged failures to curb goods linked to forced labour—a move rejected by several trading partners.Meanwhile, Canada’s services sector expanded modestly in May, according to S&P Global PMI data, though persistent geopolitical uncertainty and higher fuel costs pushed operating expenses to their fastest pace in four years.Immediate resistance can be seen at 1.3898(38.2% fib), an upside break can trigger rise towards 1.3956(Higher BB).On the downside, immediate support is seen at 1.3836(50% fib), a break below could take the pair towards 1.3779(61.8% fib).
USD/JPY: The dollar strengthened on Wednesday as underlying dollar strength pushed the Japanese yen back to ?the key 160 level on Wednesday, prompting verbal warnings from authorities and keeping traders on alert for intervention. The U.S. said Iran launched ballistic missiles toward regional neighbors but all failed to hit targets, and that U.S. forces conducted strikes on Qeshm Island in response. The dollar has tended to rally ?during flare-ups of the conflict, underpinned by safe-haven demand and the U.S.' lower sensitivity to energy price shocks; the yen tends ?to weaken as oil rises, given Japan's reliance on imported energy. Prime Minister Sanae Takaichi said later that authorities stood ready to respond to exchange-rate moves ?as needed. Takaichi's verbal intervention supported the currency before a speech from Bank of Japan Governor Ueda, but the yen later returned to ?the 160 level. Immediate resistance can be seen at 159.74(Daily high) an upside break can trigger rise towards 160.00(Psychological level) .On the downside, immediate support is seen at 158.23(SMA 20) a break below could take the pair towards 157.78(50%fib ).
Equities Recap
European shares edged lower on Wednesday as rising Middle East tensions and renewed concerns over private markets weighed on investor sentiment, prompting a shift away from riskier assets.
UK's benchmark FTSE 100 closed down by 0.40percent, Germany's Dax ended down by 1.31 percent, France’s CAC finished the day down by 0.71percent.
Wall Street stocks pulled back from record highs on Wednesday as escalating tensions in the Middle East and rising crude oil prices fuelled inflation concerns, prompting investors to take profits.
Dow Jones closed up by 1.21% percent, S&P 500 closed down by 0.73 % percent, Nasdaq settled down by 0.89% percent.
Commodities Recap
Gold prices eased on Wednesday as expectations that war-driven inflation could keep interest rates higher for longer weighed on sentiment, while investors monitored developments in the Middle East and awaited upcoming economic data.
Spot gold fell 1% to $4,440.99 per ounce by 1:42 p.m. EDT (1742 GMT). U.S. gold ?futures settled 1.2% lower at $4,466.90.
Oil prices rose around 2% on Wednesday, extending the previous session’s gains, as renewed hostilities in the Middle East and stalled U.S.–Iran talks heightened supply disruption concerns and kept geopolitical risk premiums elevated.
Brent futures settled up $1.81, or 1.89%, at $97.81 a barrel, while U.S. West Texas Intermediate crude climbed $2.26, or 2.41%, to $96.02.