Gold slipped 1% on Thursday, retreating from a two-month peak, as the U.S. dollar gained some ground, while palladium lingered below an all-time high. The dollar was up 0.2% versus a basket of other major currencies, making gold more expensive for holders of other currencies. Meanwhile, the yield on the 10-year Treasury note rose to a session high of 1.587%, though it held in a tight range.
Technical Resistance: 1797/1805
Technical support: 1777/1766
- Dow Slumps as Bulls Scatter on Reports of Biden Tax Hike
- Solid earnings boost European stocks as ECB stands pat
- Japan’s factory activity improves in April but more virus measures loom
- USDMYR traded at 4.1120
- 23 April 2021 Malaysia time 2:00pm – United Kingdom Retail Sales (MoM) (YoY) (Mar)
- 23 April 2021 Malaysia time 3:30pm – German Manufacturing PMI (Apr)
- 23 April 2021 Malaysia time 4:30pm – United Kingdom Composite / Manufacturing / Services PMI (Apr)
- 23 April 2021 Malaysia time 9:45pm – United States Manufacturing PMI (Apr)
- 23 April 2021 Malaysia time 10:00pm – United States New Home Sales (Mar)
Dow Slumps as Bulls Scatter on Reports of Biden Tax Hike
The Dow fell sharply Thursday on reports President Biden is considering a major capital gains tax hike on the rich. That would be the highest tax rate on investment gains, which are mostly paid by the wealthiest Americans, since the 1920s. The rate has not exceeded 33.8% in the post-World War Two era. News of the proposal – which was a staple of Biden’s presidential campaign platform – triggered sharp declines on Wall Street, with the benchmark S&P 500 index down 1% in early afternoon, its steepest drop in more than a month.
Solid earnings boost European stocks as ECB stands pat
European stocks moved towards record highs on Thursday, following a set of strong company earnings and as the European Central Bank left policy unchanged as expected. While global investors remain nervous about a resurgent coronavirus crisis in Asia and stretched valuations in parts of U.S. equities, European stocks have enjoyed strong gains this year as COVID-19 vaccination drive and stimulus programmes lift hopes of a strong economic rebound. The ECB’s decision to keep rates unchanged as widely expected sets the stage for a battle at the June 10 meeting, when policymakers have to decide whether to slow bond buying, even if that means allowing borrowing costs to drift higher.
Japan’s factory activity improves in April but more virus measures loom
Japan’s factory activity expanded at the fastest pace in more than three years in April, a private business survey showed on Friday, even as expected coronavirus emergency measures clouded the outlook for the world’s third-largest economy. The PMI survey showed that activity was helped by an improvement in orders at home and from overseas, as well as growing output. Backlogs of work were positive for the second straight month, while future output, which is an indicator of firms’ growth expectations for the year ahead, also expanded.
Source: Bloomberg, Investing.com, Reuters, CNBC
- 美元兑马币交易 RM 4.1120
- 2021年4月23日，马来西亚时间 2:00 pm – 英国零售（MoM）（YoY）（3月）
- 2021年4月23日，马来西亚时间 3:30 pm – 德国制造业采购经理人指数 (PMI)（4月）
- 2021年4月23日，马来西亚时间 4:30 pm – 英国复合材料/制造业/服务业采购经理人指数
- 2021年4月23日，马来西亚时间9:45 pm – 美国制造业采购经理人指数 (PMI)（4月）
- 2021年4月23日，马来西亚时间10:00 pm–美国新房销售（3月）
资料来源: Bloomberg, Investing.com, Reuters, CNBC