Jun 02 2020 0
The news of the beginning of the month is very important because it helps us imagine the picture of the whole upcoming month. So check out the most important updates for today, Jun 2nd, and see what forex trading strategies we should choose.
China's hesitation
Chinese government officials have asked large state-owned agricultural companies to halt buying some U.S. agricultural products, including soybeans, as Beijing assesses the ongoing escalation of tensions. with the United States to Hong Kong. State traders, Cofco and Sinograin, were ordered to suspend purchases.
Chinese buyers have also canceled an unspecified number of US pork orders, although private companies have not been asked to stop importing. The halt of imports is the latest sign that the trade agreement, which was difficult for the world's two largest economies, had just signed in January, is in jeopardy. The move by Beijing has undermined the risk-on psychology that is prevalent in markets.
Support for the market
Asian stocks are likely to follow US stocks to move higher as investors focus on signs of economic recovery rather than tensions between the US and China and widespread protests in the United States. The dollar fell. Futures market in Japan, Australia and Hong Kong all increased. The S&P 500 saw a modest gain on Monday, and the Nasdaq Composite, a technology-stock composite that performed well as a closely watched measure of manufacturing gains for the month. 5 of the United States for the first time in 4 months, this shows stability after the plunge due to the pandemic. Treasury bonds have changed little. Meanwhile, crude oil increased by 0.2% and gold price was stable.
Biden vs. Trump
As unrest continues to hold back US cities, Joe Biden and Donald Trump gave voters a panoramic view of the sharp differences in their approach to the national crisis. In the morning of Monday, Biden met with pastors, local politicians and mayors, listening more than speaking when he heard from them asking for more support from the national leadership. to end systematic racism to prevent a nationwide violent protest on the weekend. The Democratic candidate said: "The people are very angry. I am sure they are. I am also angry. And the fact that we need that anger, we need that to tell We have to move forward. " An hour earlier, Mr. Trump again blamed the US governors for letting the protests get out of control and accusing the protesters of being motivated by partisan politics. Mr. Trump said: "If you do not dominate then you are wasting your time. Then they will climb to domination and you will look like a bunch of idiots." New York City, meanwhile, will impose a curfew tonight from 11 pm to 5 am, as weekend protests have led to a state of looting and violence.
The return of green investment
According to a survey published on Tuesday, Australian investments in clean energy, conservation and other initiatives that positively impact the environment or society will increase 5 times to 100 billion. Australian dollar ($67 billion) next year. In its report, Responsible Investment Association Australasia reflected that more than 90% of respondents said their so-called "influential investment" had met. or exceed their expected profits. On a weighted average, respondents indicated that their ideal allocation to "influence investments" would increase to 4% of assets under management from 0.7%. at present.
Disappointment of Facebook
Facebook employees increasingly express their frustration as CEO Mark Zuckerberg's decision to take no action in front of the disturbing comments posted by President Donald Trump on social networks. After the president tweeted a message starting with "when the looting starts, the shooting starts" to protest against George Floyd's death in Minneapolis, for the first time, Twitter had hidden one of his posts, marked for violation of their service rules by commending violence.
In a post by Zuckerberg on Friday with similar content: "We think people need to know whether the government has any plans to deploy forces" But some senior figures at Facebook announced their strong disagreement over the weekend - a rare move from the company's employees.
