Global Market Report - 02 Jun 2022

Gold Spot

Gold prices rose from a two-week low on Wednesday as investors looked toward the safe-haven metal amid worries over an increase in inflation primarily due to rising fuel prices, although a stronger dollar and higher U.S. yields kept gains in check. Investors are also looking ahead to U.S. nonfarm payrolls and May’s inflation data for clues into the economy and outlook for the Federal Reserve’s policy tightening path.

Technical Resistance: 1852/1875

Technical support: 1830/1820

Market headlines:

Economic data:                

  • 2022 Malaysia time 8:30 Pm – U.S. Initial Jobless Claims          

Global equities fall despite positive U.S. economic data, dollar rises

Global equities fell and the U.S. dollar advanced on Wednesday after stronger-than-expected economic data was unable to assuage investor concerns of high inflation and an impending recession driven partly by rising oil prices. A report by the Institute for Supply Management (ISM) showed U.S. manufacturing activity picked up in May as demand for goods remained strong even with rising prices. Market sentiment, however, has remained bearish due to the prevailing uncertainty caused by the pace of the U.S. Federal Reserve's interest rate hikes, and the impact of the Russia-Ukraine war on food and commodity prices.

Global factory growth stunted by war, China's COVID curbs

Global growth in factory activity slowed in May as China's strict coronavirus curbs and Russia's invasion of Ukraine disrupted supply chains and dampened demand, adding to woes for businesses already struggling with surging raw material prices. Manufacturing growth slowed last month in economies as diverse as France, Japan to Malaysia, business surveys showed on Wednesday, illustrating the challenge policymakers face in trying to combat inflation while not stifling anaemic economic activity.

Japan Q1 corporate capital spending rises 3%, led by manufacturers

Japanese firms raised capital spending for a fourth straight quarter from January to March, underscoring the resilience of business investment led by manufacturers despite uncertainty over the COVID-19 pandemic and the war in Ukraine. Firm business expenditure could raise hopes for policymakers counting on cash-rich Japanese corporations to splurge on investment in plants and equipment to underpin a domestic demand-led economic recovery.

Source: Bloomberg, Investing.com, Reuters

黄金现货

金价周三从两周低点回升,因投资者担心通胀上升主要因燃料价格上涨而转向避险金属,不过美元走强和美国收益率上升抑制了涨势。 投资者也在关注美国非农就业人数和 5 月份的通胀数据,以寻找有关经济和美联储政策收紧路径前景的线索。

技术阻力:1852/1875

技术支持 :1830/1820

主要头条:

• 尽管美国经济数据向好,但全球股市下跌,美元上涨

• 全球工厂增长因战争而受阻,中国的 COVID 遏制

• 日本第一季度企业资本支出增长 3%,制造商领涨

• 美元兑马币交易 4.3960

经济数据:

  • 2022年6月2日,马来西亚时间 8:15 pm –  美国ADP就业人数 (五月)     
  • 2022年6月2日,马来西亚时间 8:30 pm – 美国初请失业金人数
  • 2022年6月2日,马来西亚时间 11:00 pm –美国当周EIA原油库存变动

尽管美国经济数据向好,但全球股市下跌,美元上涨

在强于预期的经济数据无法缓解投资者对高通胀和部分由油价上涨驱动的经济衰退即将到来的担忧后,全球股市下跌,美元周三上涨。 供应管理协会 (ISM) 的一份报告显示,美国制造业活动在 5 月份有所回升,因为即使价格上涨,对商品的需求仍然强劲。 然而,由于美联储加息步伐以及俄乌战争对食品和大宗商品价格的影响普遍存在不确定性,市场情绪仍然看跌。

全球工厂增长因战争而受阻,中国的 COVID 遏制

5 月份全球工厂活动增长放缓,原因是中国对冠状病毒的严格控制以及俄罗斯入侵乌克兰扰乱了供应链并抑制了需求,给本已因原材料价格飙升而苦苦挣扎的企业雪上加霜。 周三的商业调查显示,上个月法国、日本和马来西亚等不同经济体的制造业增长放缓,这表明政策制定者在努力对抗通胀、同时不抑制疲软的经济活动方面面临挑战。

日本第一季度企业资本支出增长 3%,制造商领涨

日本公司从 1 月至 3 月连续第四个季度提高资本支出,突显了制造商主导的商业投资的弹性,尽管 COVID-19 大流行和乌克兰战争存在不确定性。 坚挺的商业支出可能会让政策制定者寄希望于现金充裕的日本企业在工厂和设备上大手笔投资,以支持以国内需求为主导的经济复苏。资料来源: Bloomberg, Investing.com, Reuters

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