Check out the news happening in the past week

  1️⃣ The main news last weekend

 Spot gold last week recorded its biggest weekly drop since March 2020.

 Fed Brad is expected to raise rates in 2022.

 Biden said they would review the two sides' infrastructure plans on Monday.

 - Iran's hardline candidate, Lacey is elected president of Iran.

 - Goldman Sachs expects Burundi Oil prices to average $80 per barrel in the third quarter.

 Former Tesla CEO sells $270 million in stock.

 - Bitcoin mining farm in Sichuan simultaneously cut off power.

 2️⃣ Notable economic events and data today

 - The listed interest rate of the one-year loan market from China to June 21.

 - Fed President St.  Louis Brad and Fed President Dallas Kaplan will deliver speeches on the economic outlook;  In addition, Fed Williams will speak at the next day.

 - European Central Bank President Lagarde opened the hearing of the European Parliament's Committee on Economic and Monetary Affairs.

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Check out the news happening in the past 24 hours

 1️⃣ Yesterday's main news

 - OPEC+ will continue to increase production in July,WTI crude oil hits high since October 2018.

 The Fed's federal funds rate fell for the first time since late April.

 - Fed Governor Brainard: Further progress is expected in the coming months.

 - All JBS beef processing plants in the US were forced to suspend production due to a cyber attack.

 India's central bank clarifies that cryptocurrency trading is not prohibited.

 - Erdogan says interest rates need to be lowered, Turkish lira plummets.

 2️⃣ Today's important facts and data

 - Today, the FOMC voting committee and Chicago Fed President Evans will deliver speeches on the current economic situation and monetary policy.

 - On Thursday, Minneapolis Fed President Kashkari, Atlanta Fed President Atlanta Bostic, Fed President Dallas Kaplan and Philadelphia Fed President Huck will attend an online conference on race and the economy.  At the same time, the Federal Reserve issued the Beige Book.

 - On Thursday, API crude inventories from the United States will be released for the week to May 28. The previous value fell by 439,000 barrels.

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Further analysis on the DXY index

  Looking at the weekly chart of USD, we can see that the index is moving to the strong support zone on the weekly chart time frame around 90.6 points, the index is equal to the opening price of 2.  next week.  In addition, on the daily chart timeframe, we can clearly see this support zone in more detail when it is supported by the increasing trendline channel from January 6, 2021 (as shown).

 - Although we do not know how the nonfram results will happen tonight, in my technical opinion, when the USD is likely to fluctuate around 90.5-90.6 points, this index will go up and down around here to bottom and go.  up to recover after yesterday fell sharply.

 - My personal opinion on the long term on the USD, the possibility in the coming time will continue to be the recovery months of the USD after nearly 1 year of continuous and strong decline.  In order for the USD to go up sustainably, there must also be corrective declines, especially last week's candle is still supporting the uptrend and is in the strong support zone as analyzed above, so my view will be.  No longer selling to USD in this weekend session but only buying options will be studied.  Tonight is the weekend night, it is likely that investors will take profit.

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KlSE market morning bell

 Morning Bell : : The FBM KLCI fell by 0.32% in early morning trade, bucking regional gains.

At 9.06am, the benchmark index had fallen 4.99 points to 1,570.68 points, weighed down by concerns over the widened movement control order (MCO).

Dataprep Holdings Bhd was the top gainer so far, up 14 sen to RM2.09, with 6.88 million shares traded.

Meanwhile, the top loser was Transocean Holdings Bhd, shedding 35 sen to RM6.30 amid a trading volume of 53,700 shares.

The most active stock on the local bourse so far was Tanco Holdings Bhd, which had risen one sen to RM1, with 37.15 million shares changing hands.

“Following the recent lacklustre performance and the announcement of the MCO, the KLCI could remain pressured and retest the support of 1,560 points,” said JF Apex in a note this morning.

“Shares opened higher in Australia and Japan, where trading resumed after holidays. Futures pointed higher in Hong Kong and US contracts were little changed after the tech-heavy Nasdaq 100 ended in the red, while the S&P 500 notched a small gain. Boston Federal Reserve (Fed) president Eric Rosengren suggested that the US mortgage market no longer needs as much support, advancing the debate on when the central bank might start tapering its monthly bond purchases.

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Check out the news of the past 24 hours

 1️⃣ Yesterday's main news

 - Yellen's speech caused a huge volatility of gold.

 - International oil prices rose to the highest level in 1.5 months.

 - Fed officials: slightly higher interest rates could be a good thing.

 - The United States introduces new immunization targets.

 - US trade deficit continued to set a record in March.

 The Reserve Bank of Australia kept interest rates unchanged, revealing the big decision in July.

 - Small non-farm data released tonight.

 2️⃣ Facts and important data today

 - Focus on US economic data today:

 - Today the US will announce the number of ADP jobs for April. The expected value is 810,000, much higher than the previous value of 517,000.  The market generally expects that job data will be good.

 - Today US Markit services PMI data will be released in April.  The US ISM production data released on Monday did not meet expectations, which has caused shocks in the gold market.

 - Today and tomorrow morning, the 2021 FOMC Voting Committee and Chicago Fed President Evans will deliver a speech on the current economic situation and monetary policy.  You may pay attention to his statement.

 - On the oil market, EIA crude oil inventory data for the week from the US to April 30 will be released today. Earlier this morning, API data fell more than expected, and oil prices  increase in the short term.  time.

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Check out the news of the past 24 hours

 1️⃣ Yesterday's main news

 - The US Treasury Department sharply increased its quarterly loan estimate to $ 463 billion.

 - Powell said the US economy is not out of trouble yet.

 - The White House assists Pfizer in exporting vaccines.

 - US April ISM production data did not meet expectations.

 - The Fed's key interest rates drop to the lowest level in a year.

 2️⃣ Facts and important data today

 - At today, the Reserve Bank of Australia announced its decision on interest rates, the market expects that the Reserve Bank of Australia will stand, but the monetary policy statement may remain dovish,  This is expected to be negative against the Aussie dollar.

 - In the early morning of 2021, the FOMC voting committee and the San Francisco Fed chairman will deliver a speech, investors can focus on their opinion of the policy direction.

 - G7 foreign ministers meeting is held today, and the time will be determined.

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FED schedule this week

 - Powell and many senior Fed officials gave in-depth speeches.  The schedule is as follows:

 At Tuesday morning, Fed Chairman Powell speaks on community development.  On Tuesday, the FOMC Standing Voting Committee and New York Fed President Williams will speak at the annual online symposium;

 On Wednesday, the 2021 FOMC voting committee and San Francisco Fed Chairman Daley will deliver a speech;  in 2021, the FOMC voting committee and Chicago Fed President Evans will speak on the current economic situation and monetary policy at a meeting about the United States and the global economy;  Boston Fed President Rosengren is to speak at an online event;

 On Thursday, Cleveland Federal Reserve President Meester is to speak at a Boston Economic Club online event;  Evans said;  Williams gives opening and closing speech at an online event hosted by the Federal Reserve of New York;  Dallas Fed President Kaplan delivers a speech ；

 - On Friday, Mestre will participate in an online event;  Kaplan hosts online banking events on US and global economic affairs.

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