Gold held on to gains helped by a pullback in the dollar and lower bond yields after a weaker-than-expected U.S. monthly jobs report. Investors awaiting U.S. inflation data later this week for clarity on when the Federal Reserve might start tapering economic support measures.
Technical Resistance: 1908/1917
Technical support: 1881/1870
- S&P closes nominally lower as investors wait for a catalyst
- Fed’s reverse repo volume hits all-time high
- Japan’s Q1 GDP revised up to 3.9% annualised contraction
- USDMYR traded at 4.1195
- 8 June 2021 Malaysia time 05:00pm – German ZEW Economic Sentiment (Jun)
- 8 June 2021 Malaysia time 10:00pm – United States Job Openings and Labor Turnover survey (JOLTs) (Apr)
S&P closes nominally lower as investors wait for a catalyst
The S&P 500 ended a languid session slightly in the red on Monday, with investors standing by on news of a global minimum corporate tax rate, lingering inflation fears, and a lack of market-moving economic news. There’s been a flip-flop between whether inflation will be transitory or persistent, and the next card that gets flipped over for that is the CPI report on Thursday.
Fed’s reverse repo volume hits all-time high
The Federal Reserve’s reverse repurchase facility on Monday attracted $486.1 billion in cash, a record high, with financial institutions lending to the U.S. central bank at a 0% interest rate in a sign there are few investment options available in a low yield environment. The financial market has been awash in cash over the last few months given the Fed’s asset buying program and the U.S. Treasury’s payments to various institutions, entities, and individuals for pandemic relief.
Japan’s Q1 GDP revised up to 3.9% annualised contraction
Japan’s economy shrank 3.9% in the first quarter, slightly better than the initial estimate of a 5.1% contraction, revised government data showed, posting its first decline in three quarters as private spending took a hit from a resurgence in coronavirus infections. The revised decline was mainly due to a smaller fall in public and capital spending, which both eased less than initially thought in the quarter, offsetting a slightly larger fall in private consumption.
Source: Bloomberg, Investing.com, Reuters, CNBC
- 日本第一季度 GDP 年化收缩率上修至9%
- 美元兑马币交易 RM 4.1195
- 2021年6月 8日，马来西亚时间 05:00 pm – 德国经济景气度（六月）
- 2021年6月 8日，马来西亚时间 10:00 pm – 美国职位空缺和劳动力流动调查 (JOLT)（4 月）
标准普尔 500 指数周一收盘小幅下跌，投资者等待全球最低公司税率的消息、通胀担忧挥之不去以及缺乏影响市场的经济消息。通货膨胀是暂时的还是持久的，下一张牌是周四的通货膨胀报告。
美联储周一的逆回购工具吸引了 4,861 亿美元的现金，创历史新高，金融机构以 0% 的利率向美联储提供贷款，这表明在低收益环境下几乎没有可用的投资选择。鉴于美联储的资产购买计划以及美国财政部向各种机构、实体和个人支付的大流行救济款项，金融市场在过去几个月中充斥着现金。
日本第一季度 GDP 年化收缩率上修至 3.9%
修正后的政府数据显示，日本经济第一季度萎缩 3.9%，略好于萎缩 5.1% 的初步估计，出现三个季度以来的首次下滑，因为私人支出因冠状病毒感染的复苏而受到打击。修正后的下降主要是由于公共和资本支出的下降幅度较小，这两者的下降幅度均小于本季度最初的预期，抵消了私人消费略有下降的影响。
资料来源: Bloomberg, Investing.com, Reuters, CNBC