The world notices that the US ADP data is poor

Institutional analysis of U.S. ADP employment data: U.S. companies added less-than-expected jobs in May, suggesting that employers struggled to hire workers during the month despite near-record job vacancies in the U.S. The lower-than-expected figures suggest that companies are still struggling to recruit from their limited workforce. That said, persistently high inflation and falling savings rates are likely to lure more Americans to work in the coming months.

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Spot gold continued to rebound, as the US dollar index fell again after a lapse of two trading days. Some institutions believe that although the Fed can put out the fire of high inflation by raising interest rates strongly, it is "extremely difficult" to achieve a soft landing of the economy at the same time.

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Saudi Arabia has signaled to Western allies that it is ready to boost oil output if Russian crude production falls sharply under the weight of sanctions. International oil prices rose for the sixth consecutive month in May, setting a record for the best consecutive rise since 2011. Although oil prices have risen sharply this year, Saudi Arabia has repeatedly ignored calls from the White House to speed up production increases. The country is concerned that energy tensions could worsen later this year, arguing that spare capacity needs to be preserved.

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The U.S. Federal Reserve's National Economic Situation Survey released on the 1st showed that U.S. economic activity continued to expand from April to mid-May, but economic growth slowed in some regions. Recession expresses concern. The report, known as the Fed's Beige Book, shows that economic activity in most of the Fed's 12 jurisdictions increased slightly or moderately, with moderate growth in the remaining jurisdictions; the economies of four jurisdictions in New York, Philadelphia, Cleveland and Dallas. The growth rate has slowed significantly compared to the previous reporting cycle.

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The renminbi against the U.S. dollar closed up nearly 200 points on Thursday, and hit a new low in nearly a week with the central parity rate in early trading. Traders said that the euro and yen rebounded in the afternoon, the US index turned down, reversing the earlier rebound trend, and the renminbi also bottomed out and rebounded; in addition, the market gradually adapted to buy low and sell high in the range, and the yuan is expected to continue to fluctuate in a wide range in the short term. They also said that the subsequent dividends and foreign exchange purchases may increase, but the economic recovery is also expected to be conducive to the recovery of market sentiment. Short-term long and short factors are intertwined, and it is difficult for the RMB to have a clear direction.

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The Bank of Canada raised interest rates for the second time in a row by 50 basis points on Wednesday (June 1), raising the policy rate from 1.0% to 1.5%, and said it was ready to take "more forceful" action to curb inflation if necessary. Tightening the policy opens the door. Subsequently, the Canadian dollar rose to 1.2607, the highest in nearly six weeks. However, as the U.S. announced that manufacturing activity picked up in May, the U.S. dollar rebounded, and the major non-U.S. currencies fell collectively, limiting the Canadian dollar's rise, and it fell back slightly in the late trading stage. The current price is around 1.2660.

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Data show that in the first quarter, France’s GDP grew by 4.5%, down 0.2% month-on-month. At the same time, the economies of major countries in the euro area such as Germany and Italy were also on the verge of decline. The euro against the dollar fell sharply for the second consecutive trading day on Wednesday (June 1), with the lowest intraday fall to 1.0627, a drop of 0.8% throughout the day. Although the European Central Bank announced that it will end the support of negative interest rates before September, the euro has retreated from the recent rebound high against the dollar due to fears that the Federal Reserve will continue to raise interest rates strongly in June.

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The chief executive of JPMorgan Chase & Co. warned investors to prepare for an economic hurricane triggered by Fed tightening and the situation in Ukraine. It looks like the weather is fine, all is well, and everyone thinks the Fed can handle the current problems. But a hurricane is on the way, and no one knows if it's a minor hurricane or Super Hurricane Sandy. You must be prepared.