Forex Today: Markets return from long weekend with hope, first NFP hint eyed
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Summary:
Here is what you need to know on Tuesday, June 1:
Investors are cautiously optimistic as UK and US traders return, pushing the dollar down and gold up. The US ISM Manufacturing PMI and Fede speakers stands out on a busy economic calendar. COVID-19 remains of worry in Asia but is in retreat in Europe and the US.
American traders return from the long Memorial Day weekend to a marginally weaker US dollar, despite an increase in Treasury yields. S&P 500 futures are on the rise.
The US ISM Manufacturing Purchasing Managers' Index for May serves as the first hint toward Friday's Nonfarm Payrolls release, yet the inflation component could have the most significant impact. Fears that the world's largest economy could be overheating are weighing on markets.
ISM Manufacturing PMI Previe ...
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