Gold slipped below a near five-month price peak hit as robust U.S. manufacturing data and higher Treasury yields dented its appeal. Data showed U.S. manufacturing activity picked up in May as pent-up demand boosted orders. Investors might think that the Federal Reserve is going to taper policy faster than anticipated. Hence, benchmark U.S. Treasury yields rose to a more than one-week high, increasing the opportunity cost of holding gold.
Technical Resistance: 1911/1923
Technical support: 1890/1880
- Global equities break record as U.S. stocks waver after manufacturing data
- S. manufacturing gains steam; raw material, labor shortages mounting
- UK retailers report more inflation pressure as economy reopens
- USDMYR traded at 4.1250
- 2 June 2021 Malaysia time 11:00pm – BoE Gov Bailey Speaks
Global equities break record as U.S. stocks waver after manufacturing data
Global stocks hit a record high again on Tuesday and oil rose, as markets shrugged off concerns about rising inflation and looked ahead to U.S. data later in the week that should offer a major clue to the health of the world’s biggest economy. Risk markets have eked out gains in recent weeks as traders balance optimism that some key markets are reopening after pandemic lockdowns with concern that rising inflation could prompt central banks to rein in stimulus programmes.
U.S. manufacturing gains steam; raw material, labor shortages mounting
U.S. manufacturing activity picked up in May as pent-up demand amid a reopening economy boosted orders, but unfinished work piled up because of shortages of raw materials and labor. A shift in demand to goods from services as the COVID-19 pandemic kept Americans at home strained supply chains, with the virus also disrupting labor at manufacturers and their suppliers, leading to raw material shortages across industries.
UK retailers report more inflation pressure as economy reopens
British retailers have reported the smallest price falls since the start of the COVID pandemic, partly due to shoppers buying more clothes and shoes as lockdowns eased, and they said price pressures were likely to rise further over the rest of 2021. The BoE has forecast that CPI is likely to overshoot its 2% target and go above 2.5% by late 2021, due to a global rise in energy prices and what the central bank views as temporary pressures and one-off effects linked to the pandemic.
Source: Bloomberg, Investing.com, Reuters, CNBC
由于强劲的美国制造业数据和较高的美国国债收益率削弱了黄金的吸引力，黄金跌破了触及的近五个月高点。数据显示，需求提振了订单，美国 5 月制造业活动回升。投资者可能认为美联储将比预期更快地缩减政策。因此，基准美国国债收益率升至一周多高位，增加了持有黄金的机会成本。
- 美国股市在制造业数据公布后波动, 全球股市破纪录
- 美元兑马币交易 RM 4.1250
- 2021年6月 2日，马来西亚时间 11:00 pm – 英国央行行长贝利发表
美国制造业活动在 5 月份回升，因经济重新开放导致订单增加而被压抑的需求，但由于原材料和劳动力短缺，未完成的工作堆积如山。由于 COVID-19 大流行使美国人呆在家里，供应链紧张，需求从服务转向商品，该病毒还扰乱了制造商及其供应商的劳动力，导致各行业的原材料短缺。
英国零售商报告称，自 COVID 大流行开始以来的最小价格跌幅，部分原因是随着封锁的放松，购物者购买了更多的衣服和鞋子，他们表示，在 2021 年剩余时间里，价格压力可能会进一步上升。英国央行预测由于全球能源价格上涨以及央行认为与大流行相关的暂时压力和一次性影响，CPI 可能会超过其 2% 的目标，并在 2021 年末超过 2.5%。
资料来源: Bloomberg, Investing.com, Reuters, CNBC