Evening Market Recap: 2 Jun 2026

Tuesday's session was largely defined by two forces pulling in opposite directions: a relief bid from Trump's Truth Social comment suggesting a Strait of Hormuz deal could be reached within the week, and a hawkish JOLTS print that came in at 7.6 million job openings against a 6.87 million consensus, the strongest reading in months. The result was a session of compressed but meaningful moves. WTI crude retreated modestly from Monday's 5.5 percent surge, settling inside a $91.51 to $92.64 range with Monday's close of $92.54 acting as a persistent ceiling. Gold recovered from Monday's losses to trade above $4,500 intraday before the JOLTS beat applied the brakes. The single most important level today was $4,510 in gold - its break higher invalidated the morning short thesis and confirmed that safe-haven demand had not been fully extinguished despite the oil-inflation headwind. USD/JPY ground toward 159.71, within striking distance of the 160.00 intervention zone, and with a BoJ meeting on June 15-16 now firmly in view. Wednesday brings ADP payrolls and ISM Services - two releases that could either reinforce or undermine the hawkish dollar setup that JOLTS has just validated. The full evening briefing carries the precise level analysis, updated positioning guidance, and the early warning signals to watch as the week's data story accelerates into Friday's nonfarm payrolls. Subscribe to Markets Mastered to receive it before the London open.