Markets Daily: Asia Stock Set to Open Steady, while US Futures Edge Higher

The S&P 500 ended the month near-record ahead of the holiday Monday. The US equities on Friday saw the Dow Jones lifted by 0.2%. The S&P 500 and Nasdaq both lifted by 0.1%. Futures in Australia, Japan, and Hong Kong were little changed, while US futures edged up on Monday morning. Investors are poised to continuing weighing the inflation risks and awaiting key US jobs data to access the state of economic recovery. 

US Treasury yields ticked back on Friday. US 10-year yields fell 3 points to near 1.58%. US 2-year yields lost 1 point to near 0.14%. 

Foreign exchange trading on Friday saw a dollar mixed against a basket of other currencies. According to ZERO Markets’ MetaTrader 4 platform, EUR/USD rose from lows near 1.2132 to high around $1.2204. AUD/USD fell from highs near $0.7733 to lows around $0.7677. Off-shore yuan fell after statements leaning against its recent appreciation. According to the People’s Bank of China-backed Financial News said that “yuan may depreciate in the future” on Sunday.

Elsewhere, global oil prices were mixed. Brent crude rose 0.2% to a 2 year high near $US 69.62 a barrel. 

Iron ore prices lifted by 1% to %189.54 a tonne. Precious metals trading saw gold trading higher by 0.4% to near $US 1,903 an ounce.

Key events this week (Economic Calendar):

  • RBA policy decision (Tuesday)
  • OPEC+ meeting on oil production levels (Tuesday)
  • US unemployment data for May (Friday)

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