Abstract: Yesterday, the price of silver was still oscillating, still in line with the expected direction, but there was a certain range of the gap. As soon as the maximum reached 5,730, it began to oscillate and fell. On the four-hour chart, the moving average group suppressed the K-line, and there were signs of turning the head down. The macd showed that the zero-axis divergence was downward, and the energy column gradually enlarged. The probability of the market's decline was large. Huijin Net News, June 1 - A series of disappointing U.S. employment and manufacturing data has caused investor sentiment to heat up even further before the much-watched government employment report comes out. Yesterday the American payroll service provider ADP announced that ADP private employment data was worse than expected in May. In May, the monthly employment rate of ADP in the private sector increased by 133,000. Economists' average forecast for this was a monthly increase of 154,000. The U.S. Department of Commerce (US Department of Commerce) announced that the US’s GDP growth of 1.9% in the first quarter was in line with economists’ expectations, but was lower than the previous increase of 2.2%.
In addition, the U.S. Department of Labor announced that the number of jobless claims received last week was 383,000. In the week ending May 26, the number of initial jobless claims was 383,000, and economists had an average forecast of 377,000. The US May Chicago Purchasing Managers Index fell to 52.7 from 56.2 the previous month, well below the expected level of 56.5.
Weak U.S. data sparked investors’ concerns about the world economic outlook. At the same time, Spain’s 5-year CDS rate exceeded 600 points for the first time. Risk aversion raised further pushing up the yen, USD/JPY (78.44.1200, 0.15%) A three-and-a-half-month low, as well as the lowest US 10-year Treasury yields hit for more than 20 years, laid the foundation for a lower US dollar against the yen.
The price of silver was still oscillating yesterday. It is still in line with the expected direction. However, there is a certain gap between the prices. The highest level of 5730 starts to fluctuate. On the four-hour chart, the moving average group suppressed the K-line, and there were signs of turning the head down. The macd showed that the zero-axis divergence was downward, and the energy column gradually enlarged. The probability of the market's decline was large.
Currently in the early stage of the trend line and 5600--5580 support superposition, if you break through this position, the price of silver will further decline to around 5520, the resistance above the 5700--5680 moving average group suppression. It is expected that the current price will rebound further to around 5520 after rebounding to the first resistance level.
Yesterday's ADP employment showed that the non-agricultural data may be between the previous value of 115,000 and the expected 150,000. If so, the US dollar index will rise and gold may fall. Only when the data is significantly worse than the previous value and the expected amount can boost gold, and if the data is too short-term may boost the risk sentiment, and in the medium-term QE3 speculation may be set aside for some time, and gold should rise before falling.
Today's operating strategy: Radical investors in the vicinity of 5690 - 5700 to do a blank silver, only near 5520 profit, stop loss above 5750; conservative investors wait to operate after the non-agricultural tonight.
Important data for today:
10:30 China May HSBC Manufacturing PMI
15:15 Actual retail sales in Switzerland in April
15:30 Swiss May SVME Purchasing Managers' Index
15:43 Italian May Manufacturing PMI
15:48 French May Manufacturing PMI Final Value
15:53 ​​German May Manufacturing PMI Final Value
15:58 euro zone May manufacturing PMI final value
16:00 Italian unemployment rate in April
16:30 UK May Manufacturing PMI
17:00 Eurozone unemployment rate in April
20:30 Canadian Monthly GDP Monthly Rate
20:30 Canada's Q1 GDP Quarterly Rate
20:30 Annual First Quarter GDP Rate in Canada
20:30 U.S. monthly personal income in April
20:30 U.S. monthly personal spending in April
20:30 US April PCE Annual Rate
20:30 US April PCE Monthly Rate
20:30 US April Core PCE Annual Rate
20:30 US April Core PCE Monthly Rate
20:30 U.S. monthly actual personal consumption expenditure rate in April
20:30 U.S. adjusted non-agricultural employment in the May quarter
20:30 U.S. Adjusted Manufacturing Employment in the May Quarter
20:30 U.S. Annual Average Hourly Rate of Wages in May
20:30 Monthly Average Hourly Wages in the United States in May
20:30 US average weekly working hours in May
20:30 U.S. unemployment rate in May
22:00 U.S. monthly construction expenditures for April
22:00 US May ISM Output Index
22:00 US May ISM Employment Index
22:00 US May ISM Inventory Index
22:00 US May ISM price payment index
22:00 US May ISM New Order Index
22:00 May ISM Manufacturing PMI
22:30 ECRI leading indicators for the week of May 25th
Important financial events:
Press briefing of Beijing Information Office of the State Council of the People's Republic of China: Du Ying, deputy director of the National Development and Reform Commission, introduces China's national report on sustainable development
Bangkok Thailand World Economic Forum 2012 East Asia Conference (Last Day)
British United Kingdom Issued Treasury Bill
01:20 San Antonio, Texas United States, USA Dallas Fed** Fisher presented at the Fed’s community forum a speech on "the Fed's operations and the latest economic development."
01:30 New York, USA, U.S., New York, Federal Reserve Bank, and Dudley participated in the briefing session on Employment Polarization and Inequality Expansion in the Region.
04:30 Worcester, Massachusetts United States Boston Fed** Rosengren Speaks at the 27th Annual Meeting of Worcester Regional Research Center
09:30 Japan Releases Liquidity Supply Pending
14:30 Speech by Jan Eberly, Assistant Secretary for Economic Policy, US Treasury Department, Washington, USA, on "Employment Data and Economic Recovery"
15:00 Helsinki, Finland Finnish Prime Minister Katynen and EU Economic and Monetary Affairs Commissioner Ryan Speak at EU Symposium
15:30 Stockholm Sweden Bank of Sweden releases 2012 financial stability report
17:00 Stockholm Sweden Bank of Sweden Holds Press Conference
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