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Economic data released during the day caused mixed market reaction - Tuesday Review, June 1

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Miguel A. Rodriguez
Miguel A. Rodriguez
02 June 2021
Oil closed higher on increased demand outlook from US, Europe, and China

The US

Wall Street closed mixedly, as the energy-led jump in value stocks was offset by weakness in tech and healthcare. USA30 was up 0.14%, while USA500 fell 0.05%. TECH100 slipped 0.1%.

Crude oil rose 2.43% to $67.93 a barrel.

Gold traded 0.19% lower at $1,901.70 per troy ounce.

The Dollar Index was down 0.10% at 89.907.

 

Asia and Australia

Markets traded mixedly as well, with investors digesting the economic data released worldwide and waiting for information from the US to assess the country’s economic outlook. HongKong45 rose 0.38%.

Japan225 fell 0.32%.

Down under, Australia200 traded 0.48% lower as investors expected that the Reserve Bank to maintain its loose monetary policy.

 

Europe

Stocks hit a fresh record high as data showed eurozone manufacturing activity expanded at a record pace in May. Europe50 and UK100 each gained 0.8%. Germany30 jumped 1% to a new record high, while France40 added 0.7%.

Brent oil rose 1.75%, trading at $70.53 per barrel.

EUR/USD was down 0.08% to 1.2215.

Sources: investing.com, reuters.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.