June 1, 2023-MHM European Perspective

Market Overview

On Thursday (June 1), spot gold narrowly oscillated during the Asian session, and is currently trading near $1961.77 per ounce. Fed officials overnight dovish speech, the market on the Fed's June interest rate hike is expected to cool sharply, interest rate futures show the probability of a pause in interest rate hikes, this gold prices to provide support. However, the U.S. House of Representatives passed the debt ceiling bill, risk aversion cooled, and the dollar remains relatively strong, putting pressure on gold prices.

U.S. crude oil rebounded slightly and is currently trading near $68.81 per barrel. The U.S. debt bill passed a vote in the House of Representatives and expectations of a June interest rate hike by the Federal Reserve cooled, boosting the demand outlook for crude oil. Moreover, oil prices have fallen significantly in the past two trading days, and there is a short-term adjustment demand. With more economic data today and tomorrow, and the OPEC+ meeting coming up at the weekend, some of the shorts are taking profits early and leaving the market. However, the sharp increase in API crude inventories still limits oil price gains.

The U.S. debt bill will be sent to the Senate for a vote, the Senate is expected to complete the vote by June 5; this trading day will also usher in the U.S. initial jobless claims change, the U.S. May ADP employment data and the U.S. May ISM manufacturing PMI, so the market wait-and-see sentiment is strong. The current market expectations for the data is not optimistic, it is possible to provide further rebound opportunities for gold prices.

The EIA crude oil inventory series, originally scheduled to be released every Wednesday, was postponed to Thursday evening this week because of the Monday holiday, so investors need to pay attention to it.

This trading day will also usher in the U.S. initial jobless claims, U.S. May ADP employment data and U.S. May ISM manufacturing PMI, investors need to pay attention to.

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 1, Beijing time.

Intraday Oscillation Range: 1929-1937-1951-1978-1985-1998-2007-2016

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, 1929-1937-1951-1978-1985-1998-2007-2016 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 1. 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 1. This policy is a daytime   policy. Please pay attention to the policy release time.

Intraday   Oscillation Range: 65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1

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, 65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1   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 1. 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 1. 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 1. This policy is a daytime policy.   Please pay attention to the policy release time.