Gold came within a hair’s breadth of touching $1,800 an ounce on Wednesday as longs in the yellow metal made their most serious attempt since February to return to the level key to recapturing last year’s price highs. Gold has returned to an upward trajectory as safe-haven flows return to the precious metal on concerns about new Covid flare-ups in major economies India and Japan and growing risks to the U.S. outlook, while Treasury yields appear anchored.
Technical Resistance: 1800/1810
Technical support: 1783/1775
- Dow Snaps 2-Day Losing Streak as Reopening Stocks Back in Demand
- UK inflation edges up as COVID price hit begins to ease
- Hedge fund assets hit record $3.8 trillion in first quarter
- USDMYR traded at 4.1118
- 22 April 2021 Malaysia time 7:45pm – European Union Deposit Facility Rate (Apr)
- 22 April 2021 Malaysia time 7:45pm – ECB Marginal Lending Facility
- 22 April 2021 Malaysia time 7:45pm – ECB Monetary Policy Statement
- 22 April 2021 Malaysia time 8:30pm – United States Initial Jobless Claims
- 22 April 2021 Malaysia time 10:00pm – United States Existing Home Sales (Mar)
Dow Snaps 2-Day Losing Streak as Reopening Stocks Back in Demand
The Dow rallied Wednesday, as investors resumed bets on reopening stocks, shrugging off a fresh wave of Covid-19 cases that threatens to slow the global recovery. The reopening trade – bets on stocks set to move higher as the economy reopens were back on trading menu. Cruise line stocks led charge higher despite a new wave of Covid-19 infections sweeping across a number of countries including Japan and India that will likely delay the rebound in travel.
UK inflation edges up as COVID price hit begins to ease
British inflation picked up in March as global oil prices rose and retailers scaled back their COVID-driven discounts, and it is expected to keep climbing as the economy reopens from lockdown. Consumer price inflation rose to 0.7% in March after dipping to just 0.4% in February, slightly below the average forecast of 0.8%. The rate of inflation increased with petrol prices rising and clothes recovering from the falls seen in February.
Hedge fund assets hit record $3.8 trillion in first quarter
Global hedge fund assets rose to more than $3.8 trillion in March 2021, driven by the best first-quarter performance in 21 years and more investors putting cash to work with the industry. The trading environment was dominated not only by the new US presidential administration, new stimulus measures, developments in vaccine administration and new virus variants, but also intense volatility in cryptocurrencies and associated with a surge in interest in out of favor, heavily shorted, deep value equities from retail investors and trading platforms. Each of these, as well as evolving macroeconomic and geopolitical dynamics, represent both a risk and an opportunity for specialized hedge funds actively positioning in these areas.
Source: Bloomberg, Investing.com, Reuters, CNBC
- 美元兑马币交易 RM 4.1108
- 2021年4月22日，马来西亚时间 7:45 pm – 欧盟存款融资利率（4月）
- 2021年4月22日，马来西亚时间 7:45 pm – 欧洲央行边际贷款机制
- 2021年4月22日，马来西亚时间 7:45 pm – 欧洲央行货币政策声明
- 2021年4月22日，马来西亚时间8:30 pm – 美国初请失业金人数
- 2021年4月22日，马来西亚时间10:00 pm–美国现有房屋销售（3月）
资料来源: Bloomberg, Investing.com, Reuters, CNBC