Global Market Report - 22 Apr 2022

Gold Spot

Gold prices eased on Thursday as a rebound in US Treasury yields tempered bullion's safe-haven demand stemming from the Ukraine crisis and its potential impact on the global economy. Benchmark US 10-year Treasury yields inched up after they fell from three-year highs on Wednesday. US bond yields have marched higher on expectations that the Federal Reserve will aggressively hike interest rates as inflation accelerates at its fastest pace in 40 years.

Technical Resistance: 1966/1978

Technical support: 1935/1924

Market headlines:

Economic data:                

  • 2022 Malaysia time 03:30 pm - Germany Manufacturing Purchasing Managers Index (PMI)
  • 2022 Malaysia time 09:00 pm - European Central Bank President Lagarde Speaks
  • 2022 Malaysia time 10:30 pm - Bank of England Governor Bailey Speaks

Fed's Powell, half-point hike in view, completes hawkish pivot

A half-point interest rate increase "will be on the table" when the Federal Reserve meets on May 3-4 to approve the next in what are expected to be a series of rate increases this year, Fed Chair Jerome Powell said Thursday in comments that pointed to an aggressive set of Fed actions ahead. With inflation running roughly three times the Fed's 2% target, "it is appropriate to be moving a little more quickly," Powell said in a discussion of the global economy at the meetings of the International Monetary Fund. "Fifty basis points will be on the table for the May meeting."

Russian central bank eyes rate cut, warns of structural changes to economy

Russia's central bank will consider cutting its key interest rate further at upcoming board meetings, Governor Elvira Nabiullina said on Thursday, flagging economic challenges the country faces as it tries to blunt the impact of Western sanctions over Ukraine. Nabiullina also said Russia is looking at adjustments to its foreign exchange controls to avoid situations where the rouble exchange rate deviates on a shadow market from official levels. As she begins her new five-year stint in charge of monetary policy, Nabiullina will have to deal with a full-scale economic crisis, tackling uncertainty stemming from Western sanctions.

Malaysia's 2022 Basic Development Expenditure Performance at 18.33% as of April 15 — PM

Prime Minister Datuk Seri Ismail Sabri Yaakob said that the country's 2022 Basic Development Expenditure (DE) Performance as of April 15 was at 18.33%. He said this was announced at the first meeting of the 12th Malaysia Plan (12MP) Highest Monitoring Committee which he chaired on Thursday and was also attended virtually by four Senior Ministers as well as heads of departments and agencies involved. To address the key challenges in the distribution of DE, he said the government had also established the National Development Project Implementation Facilitation Committee (JP4N). He said in line with the country's target to achieve high-income status by 2025, Thursday's meeting also approved a framework to monitor the performance of several indicators to achieve the target.

Source: Bloomberg, Investing.com, Reuters

黄金现货

由于美国国债收益率的反弹缓和了因乌克兰危机及其对全球经济的潜在影响而产生的黄金避险需求,黄金价格周四下跌。基准美国 10 年期国债收益率在周三从三年高点回落后小幅上涨。由于通胀以 40 年来最快的速度加速,美联储将大举加息,美国债券收益率走高。

技术阻力:1966/1978

技术支持 :1935/1924

主要头条:

• 美联储鲍威尔加息半个百分点,完成鹰派支点

• 俄罗斯央行关注降息,警告经济结构性变化

• 截至 4 月 15 日,马来西亚 2022 年基本发展支出表现为 18.33%

• 美元兑马币交易 4.3070

经济数据:

  • 2022年4月22日,马来西亚时间 03:30 pm – 德国制造业PMI月率(%) (四月)        
  • 2022年4月22日,马来西亚时间 09:00 pm – 欧洲央行行长拉加德(Christine Lagarde)讲话 
  • 2022年4月22日,马来西亚时间 10:30 pm – 英国央行行长贝利(Andrew Bailey)讲话

美联储鲍威尔加息半个百分点,完成鹰派支点

美联储主席杰罗姆·鲍威尔周四在评论中表示,当美联储于 5 月 3 日至 4 日开会批准下一次预计将是今年一系列加息时,将“提上议事日程”半个百分点这表明美联储将采取一系列激进的行动。鲍威尔在国际货币基金组织会议上讨论全球经济时表示,鉴于通胀率大约是美联储 2% 目标的三倍,“加快行动速度是合适的”。 “5月会议将讨论50个基点。”

俄罗斯央行关注降息,警告经济结构性变化

俄罗斯央行行长 Elvira Nabiullina 周四表示,俄罗斯央行将考虑在即将召开的董事会会议上进一步降低其主要利率,并指出该国在试图减轻西方制裁对乌克兰的影响时面临的经济挑战。 Nabiullina 还表示,俄罗斯正在考虑调整其外汇管制,以避免卢布汇率在影子市场上偏离官方水平的情况。在她开始负责货币政策的新五年任期之际,纳比乌利娜将不得不应对全面的经济危机,应对西方制裁带来的不确定性。

截至 4 15 日,马来西亚 2022 年基本发展支出表现为 18.33%

首相拿督斯里伊斯梅尔沙布里雅科布表示,截至 4 月 15 日,该国 2022 年基本发展支出(DE)表现为 18.33%。他说,这是在他周四主持的第十二届马来西亚计划(12MP)最高监督委员会的第一次会议上宣布的,四位高级部长以及相关部门和机构的负责人实际上也出席了会议。为了解决分布式能源分配中的关键挑战,他说政府还成立了国家发展项目实施促进委员会(JP4N)。他说,根据该国到 2025 年实现高收入地位的目标,周四的会议还批准了一个框架,以监测实现该目标的若干指标的表现。资料来源: Bloomberg, Investing.com, Reuters

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