01/06/2026 Daily Reports
Global Market News: Key Developments Across Major Assets on June 1, 2026
- Nasdaq futures signaled a positive start, advancing 0.2 percent before the bell as investors focused on artificial intelligence. In corporate news, Constellation Energy Corporation announced a secondary public offering of 11 million common shares by select shareholders. The company also confirmed plans to repurchase 2 million of these shares from underwriters under its existing repurchase program.
- Germany’s DAX 40 index opened June cautiously, hovering near 25,120 before posting a modest 0.5 percent gain. Market sentiment in Frankfurt was pressured by renewed Middle East tensions and ongoing concerns over regional energy supplies. On the economic front, domestic data showed Germany’s manufacturing PMI was revised slightly upward, May inflation eased to 2.6 percent, and unemployment dipped.
- Japan’s Nikkei 225 index recorded a historic session, crossing the 67,000 mark for the first time and hitting an intraday record of 67,231.28 before closing at 66,934.33. The 0.91 percent advance was driven by a 10.3 percent surge in SoftBank Group. This rally pushed SoftBank’s market capitalization to 47.2 trillion yen, allowing it to officially overtake Toyota as Japan’s most valuable company.
- Brent crude oil futures jumped sharply, rising over 3 percent to trade near $94 per barrel. The price surge was triggered by severe geopolitical escalations, including mutual military strikes between the United States and Iran and expanded Israeli operations in Lebanon. Reports of strikes in Kuwait and rumors of the Iranian president’s resignation further fueled supply fears, dampening ceasefire hopes.
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FX Daily: Dollar Looks to Build a Stronger Footing
The global markets are pivoting away from geopolitical noise and shining the spotlight right back onto heavy-hitting US macro data. Here is what you need to know about the major currency plays this week:
USD: A Shift Back to US Macro Momentum
- Geopolitical Fatigue: The market has largely digested the US-Iran peace negotiations. Volatility has dipped, suggesting geopolitics will take a back seat for now.
- The AI Boost: There is a growing narrative that massive AI investments are finally seeping into the broader economy, potentially re-accelerating US growth.
- Data-Heavy Week: Wall Street is bracing for a flurry of jobs data (JOLTS, ADP, NFP expected at a healthy +90k) and ISM business surveys.
- Fed Rate Hike on the Table? If the jobs market holds firm and pricing power remains high, markets might fully price in a 25bp Fed rate hike this year (up from the current +17bp).
- Target Levels: The US Dollar Index (DXY) is looking well-supported at 98.75/99.00, with eyes on pressing 99.50. Meanwhile, USD/JPY is biased toward the 162 area unless the BoJ gets surprisingly hawkish.
EUR: ECB Inflation Expectations Under the Microscope
- The Inflation Survey: All eyes are on the ECB’s inflation expectations wave survey. A high reading could solidify expectations for two ECB hikes this year (likely June and September).
- Limited Upside: While higher short-dated EUR swap rates could give the Euro a mild nudge, the strong USD narrative will likely cap EUR/USD upside at the 1.1660/1.1685 range.
GBP: Bailey Cools Down the Hawks
- Rate Expectations Plunge: Bank of England Governor Andrew Bailey successfully cooled aggressive tightening expectations down to just 33bp (from a previous 80bp+), aided by falling oil prices.
- Sterling Resilience: Despite a less aggressive BoE, Sterling isn’t cratering. However, a dominant Dollar will likely keep GBP/USD capped near 1.3500, with EUR/GBP finding solid support at 0.8610/20.
