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Gold Spot

Gold prices shook off initial declines to move higher after a U.S. Federal Reserve policy statement as chair Jerome Powell flagged lingering risks to the U.S. economy from the Delta coronavirus variant. Gold found support at $1,798 from a slight pullback in the dollar following Powell’s remarks. Bullion turned positive after Powell in a subsequent news conference said the rising cases of the Delta variant may weigh on a recovery in the labor market and that the central bank was still a “ways away” from considering raising interest rates.

Technical Resistance: 1825/1833

Technical support: 1798/1788

Market headlines:

  • Fed Keeps Rates Steady, Monitoring Progress on Taper Threshold
  • Australia’s CPI spikes to highest since 2008 on Covid-19 jolt
  • China convenes banks in bid to restore calm after stock rout
  • USDMYR traded at 4.2270

 

Economic data:

Fed Keeps Rates Steady, Monitoring Progress on Taper Threshold

The Federal Reserve kept interest rates steady and hinted that it would be keeping a closer eye on progress toward its threshold to start tapering monthly bond purchases at upcoming meetings.  The Federal Open Market Committee left its benchmark rate unchanged in the range of 0% to 0.25% and said it would continue its $120 billion monthly bond purchases. The Fed has faced calls from within its ranks to bring forward the timeline on tightening monetary policy in the wake of rising inflation. Those calls appear to be hitting home as the Federal Reserve indicated that it will be keeping a closer eye on the economic progress needed to begin trimming its bond purchases.

Australia’s CPI spikes to highest since 2008 on Covid-19 jolt

Australia’s inflation surged last quarter, joining developed-world counterparts in spiking from 2020’s lockdown-induced weakness, though a renewed Covid outbreak is set to damp pressures ahead. Inflation accelerated to 3.8% in the three months through June from a year earlier, the fastest pace since 2008. But highlighting one-off factors like free childcare that fueled the gain, the key core measure that strips out volatility only climbed an annual 1.6%. The yield on 10-year Australian government notes fell 4 basis points to 1.16%, with the move mostly in response to souring global risk sentiment. The Reserve Bank expects inflation to dissipate as price indexes lose the boost from the comparison with the depths of the pandemic last year, underscoring why it’s running record-low interest rates and bond-buying programs.

China convenes banks in bid to restore calm after stock rout

China’s securities regulator convened a virtual meeting with executives of major investment banks, attempting to ease market fears about Beijing’s crackdown on the private education industry. The hastily arranged call, which included attendees from several major international banks, was led by China Securities Regulatory Commission Vice Chairman Fang Xinghai, people familiar with the matter said, asking not to be named discussing private information. Some bankers left with the message that the education policies were targeted and not intended to hurt companies in other industries, the people said. It’s the latest sign that Chinese authorities have become uncomfortable with a selloff that sent the nation’s key stock indexes to the brink of a bear market.

Source: Bloomberg, Investing.com, Reuters, CNBC

 

黄金现货

在美国联邦储备委员会 (美联储/FED) 发表政策声明后,金价摆脱了最初的跌势,因为主席杰罗姆·鲍威尔 (Jerome Powell) 表示,冠状病毒的变异给美国经济带来了挥之不去的风险。鲍威尔发表讲话后,美元小幅回落,黄金在 1,798 美元获得支撑。鲍威尔在随后的新闻发布会上表示,Delta 变体病例的增加可能会给劳动力市场的复苏带来压力,而且央行距离考虑加息还有“距离”,金价转为上涨。

技术阻力:1825/1833

技术支持 :1798/1788

主要头条:

  • 美联储保持利率稳定,监控锥形阈值的进展
  • 澳大利亚的 CPI 在 Covid-19 震荡中飙升至 2008 年以来的最高水平
  • 中国召集银行以在股市暴跌后恢复平静
  • 美元兑马币交易RM 4.2270

 

经济数据:

  • 2021年7月 29日,马来西亚时间 07:30 am – 欧洲央行公布货币政策会议纪要
  • 2021年7月 29日,马来西亚时间 02:00 am – 美国国内生产总值 (GDP) 环比
  • 2021年7月 29日,马来西亚时间 02:00 am – 美国首次申请失业救济人数

 

美联储保持利率稳定,监控锥形阈值的进展

美联储保持利率稳定,并暗示将密切关注在即将举行的会议上开始缩减每月债券购买的门槛的进展。联邦公开市场委员会将基准利率维持在 0% 至 0.25% 的范围内,并表示将继续每月购买 1,200 亿美元的债券。在通胀上升之后,美联储面临着来自其内部的呼吁,要求将收紧货币政策的时间表提前。由于美联储表示将密切关注开始削减债券购买所需的经济进展,这些呼吁似乎正在打响。

澳大利亚的 CPI Covid-19 震荡中飙升至 2008 年以来的最高水平

澳大利亚的通胀在上个季度飙升,加入了发达国家的行列,从 2020 年的封锁导致的疲软中飙升,尽管新冠病毒的爆发势必会抑制未来的压力。截至 6 月的三个月内,通货膨胀率较上年同期加速至 3.8%,为 2008 年以来的最快增速。但突出显示免费托儿服务等一次性因素推动了上涨,剔除波动性的关键核心指标仅年增长率为 1.6% . 10 年期澳大利亚国债收益率下跌 4 个基点至 1.16%,此举主要是为了应对全球风险情绪恶化。储备银行预计通胀将消散,因为价格指数失去了与去年大流行深度相比的提振作用,这突显了为什么它正在运行创纪录的低利率和债券购买计划。

中国召集银行以在股市暴跌后恢复平静

中国证监会召开了与主要投资银行高管的虚拟会议,试图缓解市场对北京打压民办教育行业的担忧。知情人士称,此次匆忙安排的电话会议包括几家主要国际银行的与会者,由中国证监会副主席方星海牵头,要求匿名讨论私人信息。知情人士说,一些银行家留下的信息是,教育政策是有针对性的,无意伤害其他行业的公司。这是中国当局对将中国主要股指推向熊市边缘的抛售感到不安的最新迹象。

资料来源: Bloomberg, Investing.com, Reuters, CNBC