Headlines:

• The one word that markets are concerned with right now
• Safety flows dominate the major currencies bloc on the day
• Equities sour further in European morning trade
• What are the main events to look out for today?
• BOJ reportedly mulls reducing bond purchases as early as June meeting
• BOJ’s Himino: It is inappropriate for monetary policy to target exchange rate
• Germany May unemployment change 25k vs 7k expected
• Switzerland May CPI +1.4% vs +1.4% y/y expected

Markets:

• JPY leads, AUD lags on the day
• European equities lower; S&P 500 futures down 0.4%
• US 10-year yields down 1.6 bps to 4.386%
• Gold down 1.0% to $2,327.48
• WTI crude down 1.5% to $72.92
• Bitcoin down 0.3% to $68,911

The dollar is finding a footing in the new day, as risk sentiment in markets soured in European trading. There wasn’t a direct trigger but I would argue that softer US data as of late is starting to bring about stagflation risks. And that is seeing market players start to stand up and take notice.

Equities sold off right from the onset with European indices bordering on 1% losses across the board. S&P 500 futures fell from flat levels to be down by 0.6% before pulling back a little.

In the bond market, 10-year yields continue to retreat in a fall to 4.386% today. For some context, it was as high as 4.638% just last week.

Going back to FX, USD/JPY fell from around 156.40 in Asia all the way down to 154.70 at the lows for the day. The pair is now still down 0.6% but holding just above 155.00. That makes the yen the lead gainer on the day.

The dollar is seen gaining elsewhere with EUR/USD down 0.4% to 1.0860 and GBP/USD also down 0.4% to 1.2750 on the day. The commodity currencies are the laggard amid the dour risk mood. USD/CAD is up 0.4% to 1.3680 while AUD/USD is down 0.7% to 0.6640 currently.

The flight to safety also saw a selloff in commodities with oil back down under $73 and gold down 1% to $2,327 levels at the moment. The big drag though is in silver, as the precious metal is down over 3% in a fall back under the $30 mark.

It is on to the US JOLTS job openings next.

This article was written by Justin Low at www.forexlive.com.

After a flurry of nominations
across both categories – Broker Awards and B2B Awards – the Nomination Round in
the UF AWARDS Global 2024 has officially come to an end. The response has been
overwhelming, with a staggering number of nominations received.

The focus now shifts to the
exciting stages ahead, starting with the Voting Round where industry players
and fintech enthusiasts alike have the opportunity to cast their votes for
their favourite online trading and fintech brands.

The Voting Round will remain
open until 12 June, so anyone wishing to participate in the next stage of the
process is encouraged to do so without delay by visiting the UF AWARDS
website.

The UF AWARDS recognise the
brands that truly excel in the online trading and fintech space, and every
accolade is a testament to the industry benchmark of the best companies to
trade and do business with.

With so many business players
battling for global recognition, the industry’s zest to recognise and celebrate
excellence in online trading and fintech is at an all-time high. Here are some
of the categories calling industry insiders to vote:

Broker Awards

• Best Global Broker
• Broker of the Year
• Best Trading Experience
• Best CFD Broker
• Best Trade Execution
• Best IB/Affiliate Programme

Fintech Awards

• Best Technology Provider
• Best Payment Service Provider
• Best CRM Software Provider
• Most Trusted Liquidity
  Provider
• Best Bridge Provider
• Best Social Trading Solution

Cast your vote in 3 simple steps

For those less familiar with
the UF AWARDS voting procedure, below are 3 easy steps to follow:

●
Register
at the UF AWARDS website, or log in if you have already done so.

●
Select the brand you wish to vote for in each
relevant category.

●
Click ‘SUBMIT’ to confirm your vote. Make your
voice heard!

Remember! You can vote in
multiple categories but only once in each.

Good to know

The nominated brands have
been selected following a stringent vetting process designed by the organisers
to ensure the utmost transparency and fairness. To see the line-up, visit the
UF AWARDS Global 2024 website and cast your votes today!
It’s time to make an industry-wide impact.

Voting closes with the highly
anticipated UF AWARDS Global 2024 Ceremony set to take place on 20 June at
Columbia Beach Bar in Limassol, Cyprus. The best of the best in online trading
and fintech will be called to the stage for everyone to applaud.

Attended by C-level
executives and thought leaders, the UF AWARDS Global Ceremony will offer the
perfect mix of business and entertainment, allowing participants to relish the
atmosphere of this exclusive seafront venue. You can’t miss this!

This article was written by Jeff Patterson at www.forexlive.com.