Today has traditionally started with macroeconomic reports from Australia. The focus was on unemployment data. As it became known, unemployment in May did not change compared to the previous month and amounted to 5.2%. However, investors expected a 0.1% drop in unemployment, especially given the RBA's expectations on this issue, and considering a 32.86% increase in the number of jobs compared to April. According to the results of the data, the AUD fell against major currencies, taking into account the growing demand for safe assets, after the representatives of China reported that they are not going to make concessions to the US on key questions.
Gold and oil are becoming more expensive today. Gold received support with the increasing probability of a FED rate cut. An increase in the demand for safe assets also has an impact on the value of gold. Oil is recovering from the fall yesterday, amid rising oil reserves in the United States. Today there are renewed attacks on tankers near the coast of the UAE.
Mhe main news from Europe was the meeting of the SNB, where it was decided to leave the rate unchanged at -0.75%. In addition, the published producer price index changed 0%, showing zero inflation processes. Nevertheless, the Swiss franc managed to strengthen based on growing demand for safe assets.
In the afternoon the most important report for investors will be the data on the number of applications for unemployment in the US. The number of applications is expected to decrease compared to the previous period.
