Gold ended the week uneventfully despite coming precariously close to the $1,800 level that would have been key for it to recapture last year’s highs. The gold market is being bombarded with strong economic data, the latest coming from the U.S. housing sector as consumers bought new homes at the highest pace in more than 14 years.
Technical Resistance: 1787/1797
Technical support: 1773/1765
- Strong data lifts stocks after tax scare; oil gains
- Bitcoin tumbles below $50,000, other cryptos sink over Biden tax plans
- Global bond, money market funds attract inflows on rising virus concerns
- USDMYR traded at 4.1062
- 26 April 2021 Malaysia time 4:00pm – German Ifo Business Climate Index (Apr)
- 26 April 2021 Malaysia time 8:30pm – United States Core Durable Goods Orders (MoM) (Mar)
Strong data lifts stocks after tax scare; oil gains
Stocks rose on Friday as it were supported by data indicating an acceleration in economic activity and even faster growth in new home sales, reversed a Wall Street decline the previous session, while the U.S. dollar fell as it lost some of its safe haven appeal. Oil prices rose more than 1% but were on track to end negative for the week. Oil prices edged up with support from the economic data, but concerns over demand from India and Japan lingered, putting a check on gains.
Bitcoin tumbles below $50,000, other cryptos sink over Biden tax plans
Bitcoin and other cryptocurrencies posted sharp losses on Friday, on concern that U.S. President Joe Biden’s plan to raise capital gains taxes will curb investments in digital assets. Bitcoin, the biggest and most popular cryptocurrency, slumped to $47,555, falling below the $50,000 mark for the first time since early March. Bitcoin is on track for an 11.3% loss on the week, its worst weekly showing since late February.
Global bond, money market funds attract inflows on rising virus concerns
The inflows at global bond funds were roughly 2% higher than in the previous week, according to Refinitiv Lipper data. The massive inflows into money market funds came after an outflow of $50 billion in the last week. However, global equity funds saw inflows of $10.8 billion, around 33% less than in the week before. The slowing money inflows into equity funds came as investors started to question lofty stock valuations amid a rise in coronavirus cases and its impact on the global economic rebound. In commodities, safer precious metal funds faced their lowest outflow in 10 weeks, helped by lower bond yields and a sagging dollar.
Source: Bloomberg, Investing.com, Reuters, CNBC
- 美元兑马币交易 RM 4.1062
- 2021年4月26日，马来西亚时间 4:00 pm – 德国Ifo商业景气指数（Apr）
- 2021年4月26日，马来西亚时间 8:30 pm – 美国核心耐用品订单（MoM）（3月）
资料来源: Bloomberg, Investing.com, Reuters, CNBC