Gold prices were flat as the dollar held firm, as investors moved to the sidelines ahead of a U.S. payrolls report that is expected to provide clues on the Federal Reserve’s tapering timeline. Overnight, the yield on 10-year U.S. Treasuries eased off a more than three-month high, but remained above 1.5%. U.S. nonfarm payrolls data, due on Friday, is expected to show an improvement in the labour market, important criteria for the Federal Reserve to start withdrawing pandemic-era support for the economy.
Technical Resistance: 1770/1786
Technical support: 1750/1741
- Wall Street ends higher on optimism about U.S. debt-ceiling deal
- US companies add most jobs in three months, ADP data show
- Copper and aluminum fall amid worsening global growth outlook
- USDMYR traded at 4.1815
- 07 October 2021 Malaysia time 08:30pm – US Initial Jobless Claims
Wall Street ends higher on optimism about U.S. debt-ceiling deal
Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default. Top U.S. Senate Republican Mitch McConnell said his party would support an extension of the federal debt ceiling into December. This would head off a historic default that would exact a heavy economic toll. “McConnell made some dovish comments about temporarily extending the debt ceiling,” said Jay Hatfield, founder and portfolio manager at Infrastructure Capital Advisors. “That’s going to be interpreted in the short-run as positive.” McConnell’s offer could provide an off-ramp to a months-long standoff between President Joe Biden’s Democrats and McConnell’s Republicans, who had been expected on Wednesday to block a third attempt by Senate Democrats to raise the $28.4 trillion debt ceiling.
US companies add most jobs in three months, ADP data show
US companies added more jobs than forecast in September, the most since June, suggesting that ongoing hiring challenges are beginning to ease as more Americans return to the workforce. Businesses’ payrolls increased by 568,000 last month, after a revised 340,000 gain in August, according to ADP Research Institute data released Wednesday. The median forecast in a Bloomberg survey of economists called for a 430,000 rise. The stronger pace of hiring indicates that companies had greater success filling open positions after enhanced federal unemployment benefits ended on Sept 6 and as schools reopen, allowing some parents to return to work. Even so, it’ll take more time to reach a full labour market recovery — total employment measured by ADP remains well below pre-pandemic levels.
Copper and aluminum fall amid worsening global growth outlook
Most base metals edged lower on signs the global growth outlook is worsening and as accelerating inflation will lead to tighter monetary policy. Investors are bracing for a slower but still robust economic recovery from the pandemic and gradual monetary-policy tightening, as inflation concerns take hold. Climbing raw-material prices are feeding into worries about rising costs, with a Bloomberg gauge of commodities including energy, metals and crops soaring to an all-time high this week. Worries over the demand outlook have so far centered largely on China, where manufacturers are facing a power crunch, but signs of a slowdown are emerging in Europe too. Germany’s factory orders slumped 7.7% in August, in the third-biggest drop in the past 30 years, official data showed. Meanwhile, surging gas prices continue to heap pressure on industrial firms throughout Europe, with futures surging a further 40% to fresh all-time highs on Wednesday.
Source: Bloomberg, Investing.com, Reuters
黄金价格持平，因美元坚挺，因投资者在美国非农就业报告公布前持观望态度，预计该报告将为美联储的缩减时间表提供线索。隔夜，10 年期美国国债收益率从逾三个月高位回落，但仍保持在 1.5% 以上。预计将于周五公布的美国非农就业数据将显示劳动力市场改善，这是美联储开始撤回大流行时期对经济的支持的重要标准。
- ADP 数据显示，美国公司在三个月内增加的工作岗位最多
- 美元兑马币交易RM 4.1815
- 2021年10月 07日，马来西亚时间 08:30 pm – 美国首次申请失业救济人数
由于投资者对国会民主党和共和党可以达成协议以避免政府债务违约变得更加乐观，华尔街周三收高。美国参议院共和党领袖米奇麦康奈尔表示，他的政党将支持将联邦债务上限延长至 12 月。这将避免历史性的违约，造成沉重的经济损失。 “麦康奈尔对暂时扩大债务上限发表了一些鸽派言论，”基础设施资本顾问公司创始人兼投资组合经理杰伊哈特菲尔德表示。 “这将在短期内被解读为积极的。”麦康奈尔的提议可能为乔拜登总统的民主党人和麦康奈尔总统的共和党人之间长达数月的僵局提供缓和，预计他们将在周三阻止参议院民主党第三次提高 28.4 万亿美元债务上限的尝试。
美国公司 9 月新增就业岗位多于预期，为 6 月以来最高，表明随着越来越多的美国人重返劳动力市场，持续的招聘挑战开始缓解。根据周三公布的 ADP 研究所数据，上月企业就业人数增加 568,000，而 8 月修正后为增加 340,000。彭博对经济学家的调查中值预测为增加 430,000 人。更强劲的招聘步伐表明，在联邦失业救济金于 9 月 6 日结束后，随着学校重新开放，一些家长可以重返工作岗位，公司在填补空缺职位方面取得了更大的成功。即便如此，要实现劳动力市场的全面复苏还需要更多时间——以 ADP 衡量的总就业人数仍远低于大流行前的水平。
大多数基本金属小幅走低，因为有迹象表明全球增长前景正在恶化，而且通胀加速将导致货币政策收紧。随着对通胀的担忧占据上风，投资者正准备迎接从大流行和逐步收紧的货币政策中缓慢但仍然强劲的经济复苏。原材料价格攀升加剧了对成本上涨的担忧，彭博对能源、金属和农作物等大宗商品的衡量指标本周飙升至历史新高。迄今为止，对需求前景的担忧主要集中在中国，那里的制造商正面临电力紧缩，但欧洲也出现了放缓的迹象。官方数据显示，德国 8 月工厂订单下降 7.7%，为过去 30 年来的第三大降幅。与此同时，飙升的天然气价格继续给整个欧洲的工业企业带来压力，周三期货价格进一步飙升 40%，创下历史新高。
资料来源: Bloomberg, Investing.com, Reuters, The Edge Markets