Gold fell more than 1% on Monday as the dollar hovered near a more than one-week high, but the metal held above $1,700 an ounce, buoyed by fears of a second wave of coronavirus infections.
Technical Resistance: 1744/1755
Technical support: 1700/1685
- Stocks rebound on Fed debt program, oil recovers
- Bank of Japan to pause on stimulus, assess effects of virus relief
- Malaysia’s April unemployment spikes to 5%, the highest in 30 years
- USDMYR traded at 4.2665
- 16 June 2020 Malaysia time 12:30 pm – BoJ Monetary Policy Statement
- 16 June 2020 Malaysia time 2:00 pm – German CPI (MoM) (May)
- 16 June 2020 Malaysia time 8:30 pm – U.S. Core Retail Sales (MoM) (May)
Stocks rebound on Fed debt program, oil recovers
A gauge of global equities rebounded on Monday after the Federal Reserve widened its program of buying corporate debt, while crude oil rose on signs fuel demand is recovering and as investors grapple with how to assess the economic reopening.
Bank of Japan to pause on stimulus, assess effects of virus relief
The Bank of Japan is expected to keep monetary settings steady at its policy meeting on Tuesday, as it gauges the effects of stimulus steps already announced to support its economy emerging from coronavirus restrictions. While the BOJ remains focused on steps to ease corporate funding strains, Governor Haruhiko Kuroda may offer hints on how it will deal with longer-term issues such as how to fire up growth and inflation when the pandemic begins to subside.
Malaysia’s April unemployment spikes to 5%, the highest in 30 years
Malaysia’s labour market felt the brunt of the movement control order (MCO) implementation, with unemployment in April spiking to 5%, the highest since 1990. Economists said it is likely to go higher in the coming months.
Source: Bloomberg, CNBC, Reuters