Asian Markets Mostly Down

Gold facing modest selling pressure and awaiting US employment data for fresh market direction

By Farah Mourad | 4 June 2024

Market open
  • Wall Street indices ended yesterday's session with mixed results

  • Bank of Japan Governor Ueda announced potential adjustments to monetary support

  • Energy markets declined due to global supply concerns and fluctuating demand

Stock Market

Wall Street indices ended yesterday's trading session with mixed results. Investors remained cautious amid ongoing economic uncertainties and fluctuating market sentiments. In Asia, most stock markets traded lower today, though Chinese stock indices managed to close higher, offering a glimmer of optimism amid regional downturns. The Bank of Japan Governor, Ueda, announced that the central bank would adjust the degree of monetary support if underlying inflation moves in line with projections, suggesting potential policy shifts in response to economic conditions.

Currency Markets

In the currency markets, the Swiss Franc (CHF) and the Euro (EUR) emerged as the best-performing major currencies, while the Australian Dollar (AUD) and the Canadian Dollar (CAD) lagged behind. The EUR/USD pair held steady near the 1.0900 level, having eased slightly from its three-month highs reached during the European session on Tuesday. The US Dollar is attempting to recover from the losses inflicted by weak ISM PMI data, supported by a cautious market mood.


Energy markets experienced a decline, reflecting ongoing global supply concerns and fluctuating demand dynamics.

Precious metals showed a mixed performance. Gold, in particular, is facing modest selling pressure near $2,355 in Asian trading today, showing a solid rebound from the previous day. Investors are closely watching US employment data, starting with the JOLTS Job Openings report, for fresh directional cues.