US May jobs beat; USD>100; gold $4300, oil +2%

Last Friday, strong growth in May's US non farm payroll data once again boosted market expectations for the Federal Reserve to raise interest rates this year. The US dollar index rose almost straight ahead of the US market and crossed the 100 mark, ultimately closing up 0.63% at 100.07; The benchmark 10-year Treasury yield closed at 4.522%, while the 2-year Treasury yield sensitive to the Federal Reserve policy rate closed at 4.147%. On Monday morning (June 8th Beijing time) in the Asian market, spot gold traded around $4330 per ounce, hitting a new low since March 24th at $4310.24 per ounce at the opening. It may test the $4300 per ounce mark during the day, influenced by the stronger than expected US May employment report. The market further expects the Federal Reserve to maintain high interest rates amid inflation concerns caused by the Middle East war. Due to traders increasingly believing that the possibility of another conflict between the United States and Iran is decreasing, oil prices fell slightly last Friday. WTI crude oil continued to fluctuate during the Asian session, increased volatility during the European session, and continued to decline during the US session, ultimately closing down 2.92% at $91.73 per barrel; Brent crude oil ultimately closed down 2.48% at $92.03 per barrel.