June 8, 2023-MHM European Perspective

Market Overview

Spot gold rebounded slightly during Asian hours on Thursday (June 8) and is now trading at US $1946.92 an ounce, as the US dollar weakened slightly. Now, however, markets are generally awaiting US CPI data for May and Fed rate decision next week. Gold is being supported by expectations that U.S. core CPI will grow at its slowest pace in nearly a year and a half. However, concerns that the Fed would maintain its hawkish outlook next week after both the Bank of Canada and the Reserve Bank of Australia unexpectedly raised rates by 25 basis points this week helped Treasury yields surge overnight, weighing on gold prices

U.S. crude traded near $72.40 a barrel; Oil prices rose more than 1% Wednesday, buoyed by an unexpected drop in U.S. crude inventories and the highest rate utilization since 2019, a rising chance the Federal Reserve will hold interest rates steady and Saudi Arabia's plans to deepen production cuts.

The day focuses on USD Initial Jobless Claims （June/03）and USD Wholesale Inventories MoM Final (APR).

MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on June 8, Beijing time.

Intraday Oscillation Range:   1903-1911-1929-1937-1951-1978-1985-1998

Overall   Oscillation Range:   1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1911-1929-1937-1951-1978-1985-1998-2007-2016-2033-2046-2057-2066-2077-2089-2097-2100

In   the subsequent period of spot gold, 1903-1911-1929-1937-1951-1978-1985-1998   can be operated as the bull and bear range; High throw low suction in the   range, chase up and kill down outside the range!

Note: The above   strategy was updated at 15:00 on June 8. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday Oscillation   Range: 22.3-23.1-23.9-24.5-25.3

Overall Oscillation   Range: 19.7-20.1-20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1-26.6-27.3

In   the subsequent period of spot silver, 22.3-23.1-23.9-24.5-25.3 can be   operated as the bull and bear range. High throw and low suction in the range,   chase up and kill down outside the range!

Note: The above   strategy was updated at 15:00 on June 8. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday   Oscillation Range: 68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9

Overall   Oscillation Range:   62.1-63.7-64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9-80.7-82.3-83.5-85.3-87.3-89.1

In   the subsequent period of Crude Oil, 68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9   can be operated as the bull and bear range. High throw and low suction in the   range, chase up and kill down outside the range!

Note: The above   strategy was updated at 15:00 on June 8. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday Oscillation Range:   1.0460-1.0570-1.0690-1.0755-1.0830

Overall Oscillation Range:   1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1157-1.1220-1.1303

In   the subsequent period of EURUSD, 1.0460-1.0570-1.0690-1.0755-1.0830 can be   operated as the bull and bear range. High throw and low suction in the range,   chase up and kill down outside the range!

Note: The above   strategy was updated at 15:00 on June 8. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday Oscillation Range:   1.2250-1.2375-1.2400-1.2470-1.2550

Overall Oscillation Range:   1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.2550-1.27000

In   the subsequent period of GBPUSD, 1.2250-1.2375-1.2400-1.2470-1.2550 can be   operated as the bull and bear range. High throw and low suction in the range,   chase up and kill down outside the range!

Note: The above   strategy was updated at 15:00 on June 8. This policy is a daytime policy.   Please pay attention to the policy release time.