Morning Update – 01/06/16 – by Arjun Lakhanpal

June 1, 2016 by 1000000.mining@gmail.com

Morning all.. Wall St settled into a seemingly quiet close but due mainly to a very late rally into the close. GBP was the main event yesterday after a Poll showing the “leaves ” ahead in the Brexit issue. Asia was having a quiet session until the Nikkei suddenly dipped and closed down 1.76% and USDJPY got hit quite hard as stops got triggered…The low was set at 109.65.. We have since bounced and this risk off move does seem to be confined to the JPY at present. Little else has moved in Asia apart from AUD which saw a stronger GDP released. Q1 GDP beat at 1.1% q/q vs 0.8% consensus and AUD made a high of 0.7299. After being battered yesterday, GBP was quiet but we did see further evidence of falling inflation overnight. Shop prices fell 1.8pc in the year to May, following a drop of 1.7pc in April, according to the British Retail Consortium. Prices have now been falling for more than three years. The data showed food prices fell 0.3pc in the year to May, while non-food prices declined 2.7pc on an annual basis. This morning we get PMI data across Europe including the UK andmortgage approvals in the UK.. Good luck.