VIP Analysis report 06/05/2021 by Peter Cruz

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Analyst: Peter Cruz

Market Brief


Gold struggles to extend Wednesday’s recovery, seesaws near the top. Markets turn dicey ahead of US BFP, amid mixed updates on covid vaccine. US 10-year Treasury yields print fur-day downtrend as Fed policymakers reject reflation fears. US data came in soft. Gold wavers inside a $2 trading range below $1,788 during the initial Asian trading session on Thursday. The yellow metal recovered the previous day as a slightly positive market mood weighed down the US dollar. Also contributed to the bullion’s strength could be the receding reflation fears. It should, however, be noted that Wall Street’s mixed performance and the pre-NFP cautious sentiment seem to test the bulls of late.

On the data slate there are German Factory Orders; Euro-Zone Economic Bulletin; UK Services PMI; Euro-Zone Retail Sales; Euro-Zone ECB’s De Guindos Speech; UK BOE Monetary Policy Report; UK MPC Vote Unchanged; UK BOE Asset Purchase Facility; US Monetary Policy Summary; UK BOE MPF Vote Cut; UK BOE Minutes; UK BOE Interest Rate Decision; Euro-Zone ECB’s Lagarde Speech; US Job Cuts; US Continuing Jobless Claims; US Non-Farm Productivity; US Initial Jobless Claims; US Fed’s Williams Speech; Euro-Zone Schnabel Speech; US Business Conditions Index; US Natural Gas Storage Change and US 4-Week Bill Auction.


(a) Precious Metals Market


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