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Global Market Report - 01 Dec 2021

Gold Spot

Gold beat a hasty retreat on Tuesday as investors latched on to seemingly hawkish remarks from the U.S. Federal Reserve chair, erasing gains from an over 1% rally fuelled by concerns over the Omicron coronavirus variant. Prices earlier rose as much as 1.3% earlier in the session after a warning from Moderna’s CEO that COVID-19 vaccines were likely to be less effective against the new variant. In a testimony before the U.S. Senate Banking Committee, Fed Chair Jerome Powell said the Fed likely will discuss speeding up its taper of large-scale bond purchases at its next meeting. Powell’s comments drove a slight rebound in the dollar, which has steadied since then.

Technical Resistance: 1785/1804

Technical support: 1760/1750

Market headlines:

Economic data:                

  • 2021 Malaysia time 9:15pm – U.S. ADP Nonfarm Employment Change (Nov)

Inflation worries, pandemic curb US consumer confidence; house prices cooling

US consumer confidence dropped to a nine-month low in November amid worries about the rising cost of living and pandemic fatigue, but that probably does not change expectations for stronger economic growth this quarter. The survey from the Conference Board on Tuesday showed consumers less enthusiastic about buying a home and big-ticket items such as motor vehicles and major household appliances over the next six months. But consumers held strong views of the labor market, with the gap between those saying jobs are plentiful versus hard to get widening to a record high.

Omicron warnings push euro zone debt yields back down

Sovereign bond yields across the euro area were broadly lower on Tuesday as warnings about the impact of the Omicron coronavirus variant renewed demand for safe-haven assets. Drugmaker Moderna's CEO said COVID-19 vaccines were unlikely to be as effective against Omicron as they have been against the Delta version. In prepared comments to be delivered later on Tuesday to US lawmakers, and released already, Federal Reserve Chair Jerome Powell said the variant posed downside risks to the economy. The yield on 10-year German Bunds — regarded as one of the safest assets in the world — dipped to its lowest in just over a week at -0.345% and was last down about 2 basis points on the day. Most other benchmark 10-year yields in the euro zone fell by a similar amount, while US 10-year Treasury yields tumbled 7.5 bps to around 1.45%.

Bank Indonesia mulls digital currency as a way to ‘fight’ crypto

Indonesia’s central bank wants a digital form of the rupiah to “fight” cryptocurrencies as it considers whether to issue such a tender, said a senior official. Crypto assets are traded alongside commodity futures and are regulated by the trade ministry despite having a significant impact on the financial system, said Juda Agung, an assistant governor at the central bank. He spoke at parliament while undergoing a fit-and-proper test to be named deputy governor. Bank Indonesia has been considering a central bank digital currency, or CBDC, since the start of this year.

Source: Bloomberg, Investing.com, Reuters, The Edge

黄金现货

由于投资者紧盯美联储主席看似强硬的言论,黄金在周二仓促回落,抵消了因对 Omicron 冠状病毒变种的担忧而推动的超过 1% 的涨势。在 Moderna 首席执行官警告 COVID-19 疫苗可能对新变种无效后,价格在盘中早些时候上涨了 1.3%。在美国参议院银行委员会作证时,美联储主席杰罗姆鲍威尔表示,美联储可能会在下次会议上讨论加快缩减大规模债券购买的步伐。鲍威尔的言论推动美元小幅反弹,此后美元一直企稳。

技术阻力:1785/1804

技术支持 :1760/1750

主要头条:

  • 通胀忧虑、大流行抑制美国消费者信心;房价降温
  • Omicron 警告推动欧元区债券收益率回落
  • 印度尼西亚银行考虑将数字货币作为“对抗”加密货币的一种方式
  • 美元兑马币交易RM 4.2020

经济数据:

  • 2021年11月 30日,马来西亚时间 9:45 am – 财新制造业采购经理人指数(11月)
  • 2021年11月 30日,马来西亚时间 8:15 pm – 美国 ADP 非农就业变化(11 月)
  • 2021年11月 30日,马来西亚时间 11:00 pm – 美国 ISM 制造业采购经理人指数(11 月)

通胀忧虑、大流行抑制美国消费者信心;房价降温

由于担心生活成本上升和流行病疲劳,美国消费者信心在 11 月跌至九个月低点,但这可能不会改变对本季度经济增长强劲的预期。会议委员会周二的调查显示,消费者在未来六个月内对购买房屋和汽车和主要家用电器等大件商品的热情降低。但消费者对劳动力市场持有强烈看法,认为就业机会充足与难以扩大至创纪录高位之间的差距正在扩大。

Omicron 警告推动欧元区债券收益率回落

周二欧元区主权债券收益率普遍走低,因为有关 Omicron 冠状病毒变种影响的警告重新引发了对避险资产的需求。制药商 Moderna 的首席执行官表示,COVID-19 疫苗不太可能像对抗 Delta 版本那样对 Omicron 有效。美联储主席杰罗姆·鲍威尔 (Jerome Powell) 在周二晚些时候向美国立法者发表并已经发布的准备好的评论中表示,这种变体对经济构成了下行风险。被视为全球最安全资产之一的 10 年期德国国债收益率跌至一周多以来的最低点 -0.345%,当日最后下跌约 2 个基点。欧元区大多数其他基准 10 年期国债收益率下跌幅度相似,而美国 10 年期国债收益率下跌 7.5 个基点至 1.45% 左右。

印度尼西亚银行考虑将数字货币作为“对抗”加密货币的一种方式

一位高级官员表示,印尼央行在考虑是否发行此类标书时,希望采用数字形式的卢比来“对抗”加密货币。央行助理行长 Juda Agung 表示,尽管加密资产对金融体系产生重大影响,但仍与商品期货一起交易,并受贸易部监管。他在接受任命副州长的适当测试时在议会发表讲话。自今年年初以来,印度尼西亚银行一直在考虑央行数字货币(CBDC)。资料来源: Bloomberg, Investing.com, Reuters, The Edge

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