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NZD/USD bullish breakout tested; Wall Street futures dip on growth concerns. Silver to drop to $30.50 due to improved US yields.

By Research Team Tuesday, Jun 4, 2024
NZD/USD

    • 11.30amD1
    • High0.6193
    • Low0.6133
    • Close0.6193

NZD/USD is trading at 0.6182, 0.80% up since previous day close. The report here was softer than estimated, The positive for the dollar? Employment conditions are still holding up well but that’s about it. Otherwise, it was a pretty straightforward take on the report. The greenback fell as a result and we’re starting to see. NZD/USD drops as the US Dollar steadies ahead of US JOLTS Job Openings data. Weak US factory PMI report prompts Fed rate-cut bets. NZD/USD tests the Bullish Flag breakout region near 0.6170.

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NZD/USD

Intra Day
Near Day

Technical Levels

R3 0.6234
R2 0.6220
R1 0.6194
Turnaround 0.6170
S1 0.6146
S2 0.6106
S3 0.6100
By Research Team Tuesday, Jun 4, 2024
US100

    • 11.35amD1
    • High18715.00
    • Low18397.00
    • Close18623.00

US100 is trading at 18555. 0.52% up since previous day close. U.S. stock futures fell on Tuesday after weak manufacturing data raised new worries about the strength of the U.S. economy, even as markets awaited a slew of reports this week to gauge how much growth has slowed. Stocks slipped on Monday after survey data showed U.S. factory activity had slowed more than expected in May and construction spending slipped in April, although the S&P 500 and the Nasdaq closed the session slightly higher.

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US100

Intra Day
Near Day

Technical Levels

R3 18925.00
R2 18850.00
R1 18760.00
Turnaround 18600.00
S1 18390.00
S2 18250.00
S3 18170.00
By Research Team Tuesday, Jun 4, 2024
SILVER

    • 11.40amD1
    • High30.80
    • Low29.76
    • Close30.71

Silver is trading at 30.98, 1.023% up since previous day close. Silver price (XAG/USD) recovers strongly after discovering buying interest near the crucial support of $30.00 in Monday’s New York session. The white metal bounced back as US Treasury yields plunge due to slight improvement in market speculation for the Federal Reserve (Fed) to begin reducing interest rates from the September meeting. the opportunity cost of holding an investment in non-yielding assets, such as Silver.

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SILVER

Intra Day
Near Day

Technical Levels

R3 31.83
R2 30.98
R1 30.50
Turnaround 30.00
S1 29.76
S2 29.04
S3 28.00
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