Gold held steady as investors stayed away from making big bets ahead of the U.S. non-farm payrolls report that is considered key to the Federal Reserve’s stimulus taper timeline. Fed Chairman Jerome Powell had signalled last month there was broad agreement among policymakers to begin reducing the central bank’s monthly asset purchases as soon as November, as long as the September jobs report was “decent.” Data on Thursday showed the number of Americans filing new claims for jobless benefits dropped by the most in three months last week, suggesting the labour market recovery was regaining momentum after a recent slowdown.
Technical Resistance: 1770/1786
Technical support: 1750/1741
- US labour market regaining footing as weekly jobless claims fall sharply
- Stocks rally as stagflation fears, energy prices ease
- China’s central bank governor vows to continue fintech crackdown
- USDMYR traded at 4.1833
- 08 October 2021 Malaysia time 08:30pm – US Nonfarm Payrolls (Sep)
US labour market regaining footing as weekly jobless claims fall sharply
The number of Americans filing new claims for jobless benefits dropped by the most in three months last week, suggesting the labour market recovery was regaining momentum after a recent slowdown, as the wave of Covid-19 infections began to subside. The weekly unemployment claims report from the Labor Department on Thursday, the most timely data on the economy’s health, also showed the number of people on state unemployment rolls plunging to an 18-month low in late September. Improving labour market conditions bode well for the government’s closely watched employment report for September and also provide ammunition for the Federal Reserve, which signaled last month that it could begin reducing is monthly bond buying as soon as November.
Stocks rally as stagflation fears, energy prices ease
World equity markets rebounded on Thursday after U.S. Senate leaders moved to avert a U.S. debt default, while a global easing in energy prices tempered deepening fears of “stagflation.” European bourses rallied off 2-1/2-month lows and Wall Street jumped as steady crude oil and natural gas prices offered relief after a shock 4% drop in German industrial production highlighted supply chain disruptions. German output of cars and auto parts slid 17.5% in August due to supply shortages of intermediate products, providing a telling sign of the constraints posed by the combination of rising inflation and moribund growth, or stagflation. But the number of Americans filing new claims for jobless benefits fell the most in three months last week, suggesting the U.S. labor market recovery was regaining momentum after a recent slowdown as COVID-19 infections subside. Stagflation fears are overdone, and investors are overly focused on weaker economic growth and higher inflation though the long-term market trend is higher.
China’s central bank governor vows to continue fintech crackdown
China will continue taking steps to curb monopolistic behaviour among internet platform companies and strengthen the protection of consumer privacy and data security, central bank governor Yi Gang said. The People’s Bank of China will continue to strengthen the regulation of the payments sector and ask all financial services companies, including personal information businesses, to be licensed, Yi said. China has been cracking down on its biggest tech companies for the past year after largely giving them free rein to grow. Regulators fired their first salvo in November with new regulations on fintech, which forced Jack Ma’s Ant Group Co to call off what would have been a record initial public offering days before the firm was due to go public.
Source: Bloomberg, Investing.com, Reuters
黄金持稳，因投资者避免在美国非农就业报告公布之前进行大笔押注，该报告被认为是美联储缩减刺激计划时间表的关键。美联储主席杰罗姆鲍威尔上个月曾暗示，只要 9 月就业报告“体面”，政策制定者就最早于 11 月开始减少每月资产购买量达成广泛共识。周四数据显示，上周初请失业金人数降幅为三个月来最大，表明劳动力市场在近期放缓后正在重拾动力。
- 美元兑马币交易RM 4.1833
- 2021年10月 08日，马来西亚时间 08:30 pm – 美国非农就业人数（9 月）
上周首次申请失业救济的美国人人数降幅为三个月来最大，这表明随着 Covid-19 感染浪潮开始消退，劳动力市场复苏在最近放缓后正在恢复动力。美国劳工部周四发布的每周失业救济人数报告是关于经济健康状况的最及时数据，该报告还显示，9 月下旬各州失业人数跌至 18 个月低点。劳动力市场状况的改善对政府密切关注的 9 月就业报告来说是个好兆头，也为美联储提供了弹药，美联储上月暗示最早可能在 11 月开始减少每月债券购买。
在美国参议院领导人采取行动避免美国债务违约后，世界股市周四反弹，而全球能源价格的放缓缓和了对“滞胀”加深的担忧。欧洲股市从 2-1/2 个月的低点反弹，华尔街跳涨，因为稳定的原油和天然气价格在德国工业生产意外下降 4% 突显供应链中断后提供了缓解。由于中间产品供应短缺，德国 8 月份汽车和汽车零部件的产量下降了 17.5%，这是通货膨胀上升和垂死增长或滞胀相结合所构成的制约的明显迹象。但上周新申请失业救济的美国人人数降幅为三个月来最大，这表明随着 COVID-19 感染的消退，美国劳动力市场在最近放缓后正在恢复势头。对滞胀的担忧过度，尽管长期市场趋势较高，但投资者过度关注经济增长疲软和通胀上升。
央行行长易纲表示，中国将继续采取措施遏制互联网平台公司的垄断行为，加强对消费者隐私和数据安全的保护。易说，中国人民银行将继续加强对支付行业的监管，并要求包括个人信息业务在内的所有金融服务公司都获得许可。过去一年，中国一直在打击其最大的科技公司，因为它们基本上可以自由地发展。监管机构在 11 月对金融科技进行了新的监管，这迫使马云的蚂蚁集团公司在该公司上市前几天取消了创纪录的首次公开募股。
资料来源: Bloomberg, Investing.com, Reuters, The Edge Markets