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A world of Trading assets

31/05/2021 Market Chat

Authored by ZanderVanDerMerwe
31.05.2021
Market Commentary
0
3 min

Last week in the review could be summarised as a week of acceptance, as inflationary fears were put to the side as the global equity markets recovered in comparison to the preceding 3 weeks of the month as the US and European equity indices recovered significantly to make up ground on profits that were relinquished during the course of the month.

The commodity markets similarly outperformed last week as Gold closed the week out above 1900, Silver closing out the week just shy of $28 despite trading in a range and Brent rallying to touch 69.70 before closing out the week just shy of $69.

The Crypto market put the brakes on the prior week’s selloff as both Bitcoin and Ethereum recovered to find some stability, whether or not the bottom was reached is yet to be seen as environmental and regulatory fears still taunt investors as the alternative asset faces an onslaught from regulators.

There’s a couple of market drivers this week to take note of, tomorrow Australia is set to release its Rate Statement while OPEC is also set to meet during the course of the day to discuss Oil Supply. The G7 meetings kick off on Friday as central bank governors are set to release statements, during the afternoon Non-Farm and Unemployment data is set to be released out of Canada and the US.

Monday (SAST)
All Day - Banking Holiday (GBP & US)

Tuesday (SAST)
6:30am - RBA Rate Statement (AUD)

  • Cash Rate (AUD)
    All Day - OPEC-JMMC Meetings
    4:00pm - ISM Manufacturing PMI (USD)
    5:00pm - BOE Gov Bailey Speaks (GBP)
    Due to deliver a speech titled "Building a Finance System Fit for a Clean, Resilient and Just Future" at an online event hosted by Reuters. Audience questions expected

Wednesday (SAST)
3:30am - GDP q/q (AUD)
All Day - Banking Holiday (EUR)

Thursday (SAST)
2:30pm - ADP Non-Farm Employment Change (USD)

  • Unemployment Claims (USD)
    4:00pm - ISM Services PMI (USD)
    5:00pm - Crude Oil Inventories (USD)
    6:00pm - BOE Gov Bailey Speaks (GBP)
    Due to deliver a speech titled "How in practice can the financial sector take immediate action against climate change-related risks" at the Green Swan 2021 Global Virtual Conference

Friday (SAST)
All Day - G7 Meetings
1:00pm - ECB President Lagarde Speaks (EUR)
Due to participate in a panel discussion titled "Central banks and climate change: how to manage expectations, balance actions and communication and contribute to coordinate with other important actors?" at the Green Swan 2021 Global Virtual Conference
1:00pm - Fed Chair Powell Speaks (USD)
Due to participate in a panel discussion titled "Central banks and climate change: how to manage expectations, balance actions and communication and contribute to coordinate with other important actors?" at the Green Swan 2021 Global Virtual Conference
2:30pm - Employment Change (CAD)

  • Unemployment Rate (CAD)
  • Average Hourly Earnings m/m (USD)
  • Non-Farm Employment Change (USD)
  • Unemployment Rate (USD)
Authored by ZanderVanDerMerwe
31.05.2021
Market Commentary
0
3 min

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