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Gold Spot

Gold prices slipped on Friday as investors booked profits, but concerns over the global economic slowdown and massive stimulus measures from major central banks kept bullion on track for a weekly gain.

Technical Resistance: 1748/1771

Technical support: 1700/1679

Market headlines:

  • S. S&P 500 gains on hopes of lockdown easing; Boeing, Intel weigh on Dow
  • S. economy faces historic shock, with 16% joblessness possible: Trump adviser
  • Back from COVID-19, Johnson urged to reveal UK lockdown exit strategy
  • USDMYR traded at 4.3565

Economic data:

  • 27 April 2020 Malaysia time 4:30 pm – H.K. Trade Balance
  • 27 April 2020 Malaysia time 9:00 pm – Russia Retail Sales (YoY) (Mar)
  • 27 April 2020 Malaysia time 8:30 pm – Russia GDP Monthly (YoY)

U.S. S&P 500 gains on hopes of lockdown easing; Boeing, Intel weigh on Dow

The S&P 500 edged higher in choppy trading on Friday as some states prepared to relax curbs imposed to contain the coronavirus outbreak, but declines in Intel and Boeing weighed on the blue-chip Dow Jones.

U.S. economy faces historic shock, with 16% joblessness possible: Trump adviser

The shuttering of the U.S. economy due to the coronavirus pandemic is a shock of historic proportions that likely will push the national unemployment rate to 16% or higher this month and require more stimulus to ensure a strong rebound, a White House economic adviser said on Sunday.

Back from COVID-19, Johnson urged to reveal UK lockdown exit strategy

Prime Minister Boris Johnson returned to his Downing Street residence on Sunday after recovering from COVID-19, ready to take the helm again with pressure growing for the government to explain how it will ease a month-old coronavirus lockdown.

Source: Bloomberg, CNBC, Reuters

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