US Economic data: ADP Non-Farm Employment change – Actual 128K Vs estimate 295K. Weak data. All eyes are set on data to be released on Friday – 1) Average Hourly earnings m/m, 2) Non-Farm Employment Change & 3) Unemployment rate.
Indian’s trade deficit data for May 2022: deficit widens to $ 23.33 billion. Petroleum & Crude oil import surged to by 91.6% to $18.14 billion. Gold import increased by $5.82 billion.
Approaches on Indices: We have mentioned “Play for June – Technical bounce” Nifty indicates opening above 16750, can add long around this zone.
Today SGX Nifty indicates opening 1 % higher on weak US Data and US Fed vice chair’s comment. It is very much about central banks actions this month. Nifty with 16362 could act is immediate support level and any trend reversal only once March & May 2022 low is broken around 15740 – 15780.
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Daily Report 3-Jun-22
US Economic data: ADP Non-Farm Employment change – Actual 128K Vs estimate 295K. Weak data. All eyes are set on data to be released on Friday – 1) Average Hourly earnings m/m, 2) Non-Farm Employment Change & 3) Unemployment rate.
Indian’s trade deficit data for May 2022: deficit widens to $ 23.33 billion. Petroleum & Crude oil import surged to by 91.6% to $18.14 billion. Gold import increased by $5.82 billion.
SGX Nifty @ 16813 up 203 points at 8:10 AM
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