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⚠️ UK β€” BOE Governor Andrew Bailey Speaks at 08:20 GMT
Crypto: just enough optimism to halt the decline

The crypto market capitalisation rose by 1% over the past 24 hours, rebounding from the local lows reached the previous day, thanks to a shift towards riskier assets. However, the cryptocurrency market remains 10% below its local peak in early May and 43% below its global peak in October last year. By comparison, over the same period, the Nasdaq 100 gained 4% and 21% respectively, challenging the notion of a direct correlation between these indices. This by no means indicates widespread negativity, as over the past 24 hours Stellar has gained 23%, IOTA 13% and Algorand 10%, whilst the worst-performing coins among those actively traded were Bitcoin Cash (-6.3%), Tron (-3.3%) and Filecoin (-2%).

Bitcoin dipped below $73K on Thursday and is trading just above that level at the start of Friday. Weak performance against a backdrop of record highs in equities points to underlying demand weakness, entirely consistent with reports of outflows from institutional investors. Technicals are also on the sellers’ side, who are continuing to recoup the failure below the 50-day moving average following the failed attempt to breach the 200-day moving average earlier in May. Such buyer apathy keeps the possibility of a decline to the $65-67K range as the main scenario.

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⚠️ Canada β€” Gross Domestic Product at 03:00 GMT

βœ”οΈ Prev: 0.2% | 1.0%

πŸ•’ Exp: 0.1% | 0.9%

🎯 Fact.: -0.1 πŸ“‰ | 0.4% πŸ“‰
πŸ‡ΊπŸ‡Έ US Pre-Market: Mostly Negative πŸ“‰

Mixed-to-negative trends are prevailing in the US stock market pre-market.

In the Information Technology sector, NVIDIA (NVDA) is up 0.29%, while Advanced Micro Devices (AMD) is up 0.35%, and Oracle (ORCL) is up 3.66%.

In the Communication Services sector, Alphabet (GOOGL) is down 1.28%.

In the Consumer Discretionary sector, Amazon (AMZN) is down 1.08%, while in the Consumer Staples sector, Walmart (WMT) is down 1.01%.

The predominance of declines among major US names reflects moderate risk-off sentiment. In this scenario, demand for the dollar as a safe-haven asset may receive local support through reallocation into Treasuries and more conservative dollar-denominated instruments.
Again, technical factors are saving gold from the drop

Gold fell below $4,400, reaching levels last seen during the prolonged March decline. At its intraday low, the price dipped below the 200-day moving average. Buyers have repeatedly stepped in around this level over the past three years. The last week of May was no exception. Beyond purely technical factors, the precious metal was supported by positive signals from the US-Iran front and an encouraging equity market rally, which boosted risk appetite.

The key difference between the current rally from $4,400 to levels above $4,500 and the one in March is that gold no longer appears heavily oversold, and market conditions appear much more balanced. A break below this level could open the way to the $4,000–$4,100 range. However, if selling pressure intensifies, the decline could prove much deeper, down to $3,400.

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FxPro pinned Β«πŸ—“ Economic Calendar at 2026/05/31 (GMT) 01:30 πŸ‡¨πŸ‡³ Manufacturing PMI β€” Exp: 50.2 Actual: 50.0 01:30 πŸ‡¨πŸ‡³ Non-Manufacturing PMI β€” Exp: 49.5 Actual: 50.1 [Updated in real time]Β»
πŸ—“ Economic Calendar at 2026/06/01 (GMT)

00:30 πŸ‡ΊπŸ‡Έ FOMC Member Jerome Powell Speaks

01:45 πŸ‡¨πŸ‡³ Markit Manufacturing PMI β€” Exp: 51.4 Actual: 51.8

07:00 πŸ‡¨πŸ‡­ Gross Domestic Product β€” Exp: 0.5% | 0.4% Actual: 0.7% | 0.5%

08:00 πŸ‡ͺπŸ‡Ί Manufacturing PMI β€” Exp: 51.4 Actual: 51.6

13:30 πŸ‡¨πŸ‡¦ S&P Global Manufacturing PMI Actual: 52.9

14:00 πŸ‡ΊπŸ‡Έ ⚑️ ISM Manufacturing PMI β€” Exp: 53.3 Actual: 54.0


[Updated in real time]
FxPro pinned Β«πŸ—“ Economic Calendar at 2026/06/01 (GMT) 00:30 πŸ‡ΊπŸ‡Έ FOMC Member Jerome Powell Speaks 01:45 πŸ‡¨πŸ‡³ Markit Manufacturing PMI β€” Exp: 51.4 Actual: 51.8 07:00 πŸ‡¨πŸ‡­ Gross Domestic Product β€” Exp: 0.5% | 0.4% Actual: 0.7% | 0.5% 08:00 πŸ‡ͺπŸ‡Ί Manufacturing PMI β€” Exp:…»
πŸ‡ΊπŸ‡Έ US Pre-Market: Mixed πŸ“Š

Trading in the US stock market pre-market is mixed, with a slight upward bias.

In the Information Technology sector, NVIDIA (NVDA) is up 2.33%, Intel (INTC) is down 5.96%, while Microsoft (MSFT) is up 3.90%.

In the Communication Services sector, Alphabet (GOOGL) is down 0.74%.

In the Energy sector, Exxon Mobil (XOM) is up 1.00%, while Chevron (CVX) is up 0.43%.

In the currency market, this pattern points to a cautious risk-on mode: demand is concentrated in the largest technology and select commodity names, supporting interest in US assets as a whole while reducing the need for the dollar as a purely defensive instrument. As a result, the short-term dollar trend, all else equal, appears largely neutral.
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⚠️ USA β€” ISM Manufacturing PMI at 03:00 GMT

βœ”οΈ Prev: 52.7

πŸ•’ Exp: 53.3

🎯 Fact.: 54.0 πŸ“ˆ
πŸ—“ Economic Calendar at 2026/06/02 (GMT)

09:00 πŸ‡ͺπŸ‡Ί Consumer Price Index β€” Exp: 3.2% Actual: 3.2%

09:00 πŸ‡ͺπŸ‡Ί Consumer Price Index - Core β€” Exp: 2.4% Actual: 2.5%

14:00 πŸ‡¬πŸ‡§ ⚑️ BOE Governor Andrew Bailey Speaks

14:00 πŸ‡ΊπŸ‡Έ ⚑️ JOLTs Job Openings β€” Exp: 6860K Actual: 7620K


[Updated in real time]
FxPro pinned Β«πŸ—“ Economic Calendar at 2026/06/02 (GMT) 09:00 πŸ‡ͺπŸ‡Ί Consumer Price Index β€” Exp: 3.2% Actual: 3.2% 09:00 πŸ‡ͺπŸ‡Ί Consumer Price Index - Core β€” Exp: 2.4% Actual: 2.5% 14:00 πŸ‡¬πŸ‡§ ⚑️ BOE Governor Andrew Bailey Speaks 14:00 πŸ‡ΊπŸ‡Έ ⚑️ JOLTs Job Openings β€” Exp: 6860K…»