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Gold Spot

Gold prices hovered near a one-month peak as the dollar and longer-dated Treasury yields retreated from recent highs following hotter-than-expected U.S. inflation data. U.S. consumer prices increased solidly in September as Americans paid more for food, rent and a range of other goods, putting pressure on the Biden administration to urgently resolve strained supply chains, which are hampering economic growth. Minutes from the Federal Reserve’s September meeting showed the central banks could start reducing its crisis-era support for the U.S. economy by mid-November, but policymakers remained split over how big of a threat high inflation represents and how soon they may need to raise rates in response.

Technical Resistance: 1803/1813

Technical support: 1781/1770

Market headlines:

  • Singapore central bank tightens policy in surprise move
  • G20 finance chiefs back tax deal, pledge to sustain recovery, watch inflation
  • China’s September exports surprisingly robust despite power crunch
  • USDMYR traded at 4.1535

Economic data:

  • 14 October 2021 Malaysia time 08:30pm – US Initial Jobless Claims
  • 14 October 2021 Malaysia time 08:30pm – US Core PPI (MoM)(YoY) (Sep)

Singapore central bank tightens policy in surprise move

Singapore’s central bank unexpectedly tightened its monetary policy on Thursday, saying the move will ensure price stability over the medium-term. The Monetary Authority of Singapore (MAS) manages monetary policy through exchange rate settings, rather than interest rates, letting the Singapore dollar rise or fall against the currencies of its main trading partners within an undisclosed band. It adjusts its policy via three levers: the slope, mid-point and width of the policy band, known as the Nominal Effective Exchange Rate, or S$NEER.

G20 finance chiefs back tax deal, pledge to sustain recovery, watch inflation

Finance leaders from the G20 major economies on Wednesday endorsed a global deal to revamp corporate taxation and pledged to sustain fiscal support for their economies while keeping a close eye on inflation. The G20 finance ministers and central bank governors also said in a communique issued after a meeting in Washington that the International Monetary Fund should establish a new trust fund to channel a $650 billion issuance of IMF monetary reserves to a broader range of vulnerable countries. The finance leaders noted in their statement that economic recovery “remains highly divergent across and within countries” and is vulnerable to new variants of COVID-19 and an uneven pace of vaccinations.

China’s September exports surprisingly robust despite power crunch

China’s export growth unexpectedly accelerated in September, as still-solid global demand offset some of the pressures on factories from power shortages, supply bottlenecks, and a resurgence of domestic Covid-19 cases. The world’s second-largest economy has staged an impressive rebound from the pandemic but there are signs the recovery is losing steam. Resilient exports could provide a buffer against growing headwinds including weakening factory activity, persistently soft consumption, and a slowing property sector. Outbound shipments in September jumped 28.1% from a year earlier, up from a 25.6% gain in August. Analysts polled by Reuters had forecast growth would ease to 21%.

Source: Bloomberg, Investing.com, Reuters

 

黄金现货

由于美国通胀数据好于预期,美元和长期国债收益率从近期高位回落,黄金价格徘徊在一个月高点附近。由于美国人为食品、房租和一系列其他商品支付更多费用,美国 9 月份消费者价格稳步上涨,这给拜登政府施加压力,要求其紧急解决阻碍经济增长的供应链紧张问题。美联储 9 月会议纪要显示,中央银行可能会在 11 月中旬开始减少危机时期对美国经济的支持,但政策制定者在高通胀所代表的威胁有多大以及他们可能需要多快加息的问题上仍存在分歧作为回应。

技术阻力:1803/1813

技术支持 :1781/1770

主要头条:

  • 新加坡央行意外收紧政策
  • G20 财长支持税收协议,承诺持续复苏,关注通胀
  • 尽管电力紧缩,中国 9 月的出口仍出人意料地强劲
  • 美元兑马币交易RM 4.1535

经济数据:

  • 2021年10月 14日,马来西亚时间 08:30 pm – 美国首次申请失业救济人数
  • 2021年10月 14日,马来西亚时间 08:30 pm – 美国核心 PPI (MoM)(YoY) (9 月)

新加坡央行意外收紧政策

新加坡央行周四意外收紧货币政策,称此举将确保中期物价稳定。新加坡金融管理局 (MAS) 通过汇率设定而非利率来管理货币政策,让新加坡元兑主要贸易伙伴的货币在一个未公开的范围内上涨或下跌。它通过三个杠杆来调整其政策:政策区间的斜率、中点和宽度,称为名义有效汇率,或 S$NEER。

G20 财长支持税收协议,承诺持续复苏,关注通胀

来自 G20 主要经济体的金融领导人周三批准了一项改革企业税的全球协议,并承诺在密切关注通胀的同时继续为其经济提供财政支持。 G20 财长和央行行长在华盛顿会议后发表的公报中还表示,国际货币基金组织应设立一个新的信托基金,将 6500 亿美元的 IMF 货币储备分配给更广泛的脆弱国家。金融领导人在他们的声明中指出,经济复苏“在国家之间和国家内部仍然存在很大差异”,并且容易受到 COVID-19 新变种和疫苗接种速度不均衡的影响。

尽管电力紧缩,中国 9 月出口仍出人意料地强劲

中国的出口增长在 9 月份出人意料地加速,因为仍然强劲的全球需求抵消了电力短缺、供应瓶颈和国内 Covid-19 病例卷土重来对工厂造成的部分压力。世界第二大经济体从大流行中取得了令人印象深刻的反弹,但有迹象表明复苏正在失去动力。有弹性的出口可以缓冲日益增长的不利因素,包括工厂活动减弱、消费持续疲软以及房地产行业放缓。 9 月份的出境出货量同比增长 28.1%,高于 8 月份的 25.6%。路透社调查的分析师此前预计增长将放缓至 21%。

资料来源: Bloomberg, Investing.com, Reuters, The Edge Markets