Macro Roundup (Apr 9)

Published: Apr 09, 2021 08:57 (GMT+8)
The U.S. dollar dipped to a two-week low against a basket of currencies on Thursday, tracking Treasury yields lower, after data showed a surprise rise in U.S. weekly jobless claims.

SHANGHAI, Apr 9 (SMM) — This is a roundup of global macroeconomic news last night and what is expected today.

The U.S. dollar dipped to a two-week low against a basket of currencies on Thursday, tracking Treasury yields lower, after data showed a surprise rise in U.S. weekly jobless claims.

While the increase likely understates rapidly improving labor market conditions as more parts of the U.S. economy reopen and fiscal stimulus kicks in, it was bad enough to knock down the greenback.

The dollar index measuring the greenback against a basket of six currencies was 0.35% lower at 92.091, its lowest since March 23.

The Labor Department reported first-time claims for the week ended April 3 totaled 744,000, well above the expectation for 694,000 from economists surveyed by Dow Jones.

On Wall Street, U.S. stock futures moved higher in overnight trading on Thursday after the S&P 500 notched a fresh record in the regular session.

Dow futures rose about 65 points. S&P 500 futures gained 0.25% and Nasdaq 100 futures rose 0.35%.

The major averages rose on Thursday, bolstered by gains in technology stocks. The Dow Jones Industrial Average gained 57 points, helped by a near-2% gain in Apple’s stock.

The S&P 500 climbed 0.42% and closed at a record high for the second day in a row.

The Nasdaq Composite was the relative outperformer, gaining more than 1% as Amazon, Netflix, Microsoft and Google-parent Alphabet all closed higher.

Oil prices fell on Thursday after official figures showed a big increase in U.S. gasoline stocks, causing concerns about demand for crude weakening in the world’s biggest consumer of the resource at a time when supplies around the world are rising.

Brent crude eased 47 cents, or 0.7%, to $62.70 a barrel. U.S. oil settled 17 cents, or 0.28%, lower at $59.60 per barrel.

While crude stocks in the United States fell more than forecast by analysts, gasoline inventories jumped sharply, also against expectations, the Department of Energy said on Wednesday.

Oil inventories dropped by 3.5 million barrels last week to nearly 502 million barrels, while gasoline stocks increased by 4 million barrels, against expectations of a decline, to just over 230 million barrels, as refiners ramped up production before the summer driving season.

Gold prices climbed to their highest level in more than a month on Thursday as the dollar and U.S. yields dropped and the Federal Reserve’s reiteration of its dovish policy stance also lifted bullion’s appeal.

Spot gold rose 1.11% to $1,756.56 per ounce, having earlier hit its highest since March 1 at $1,758.45. U.S. gold futures settled up about 1% at $1,758.2.

German industrial orders rose in February on the back of strong domestic demand, data from the Federal Statistics Office showed.

Chinese inflation data is expected to be released, with the consumer price index and producer price index for March set to be out at around 9:30 a.m. HK/SIN.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
ICE starts London platinum and palladium futures alongside gold and silver
5 hours ago
ICE starts London platinum and palladium futures alongside gold and silver
Read More
ICE starts London platinum and palladium futures alongside gold and silver
ICE starts London platinum and palladium futures alongside gold and silver
[SMM Precious Metals Flash] Intercontinental Exchange has begun offering daily futures in London for gold, silver, platinum and palladium, the Financial Times reported on 6 October 2026. ICE’s specifications show physically settled, loco-London contracts sized at 50 troy ounces for platinum and 100 troy ounces for palladium, with delivery through recognised London vault accounts. In principle, the launch gives producers, refiners and traders a new cleared route to hedge London metal exposure, after earlier attempts to build a London gold-futures market failed. Its significance will depend on participation: neither ICE nor the report supplied trading-volume or open-interest evidence, so the contracts’ liquidity and effect on price dislocations are not yet established.
5 hours ago
One Bullion completes second Vumba drill hole in Botswana
Oct 06, 2026 16:01 (GMT+8)
One Bullion completes second Vumba drill hole in Botswana
Read More
One Bullion completes second Vumba drill hole in Botswana
One Bullion completes second Vumba drill hole in Botswana
[SMM Gold flash] One Bullion has completed the second hole of its approximately 3,000-metre diamond-drilling programme at the Vumba gold project in northeastern Botswana. VUDD018 reached 350.85 metres at the Central–Makoba target, while drilling had started on the third hole, VUDD019. Preliminary visual logging recorded repeated silica–carbonate alteration, quartz–carbonate veining and arsenopyrite with lesser pyrite. The oblique hole gives the explorer a second structural view of the Central–Makoba system and will contribute to its three-dimensional geological model. No assays from VUDD018 were available, however, and visual alteration, veining and sulphides do not establish gold grade, mineralised width or economic significance. Laboratory results and QA/QC review are therefore required before the target can be assessed.
Oct 06, 2026 16:01 (GMT+8)
Bullion falls 0.9% as weekly decline reaches 3.4%
Oct 06, 2026 15:58 (GMT+8)
Bullion falls 0.9% as weekly decline reaches 3.4%
Read More
Bullion falls 0.9% as weekly decline reaches 3.4%
Bullion falls 0.9% as weekly decline reaches 3.4%
[SMM Precious Metals Flash] Spot gold fell 0.9% to US$4,140.06 an ounce by 18:33 GMT on 2 October and was down about 3.4% for the week, Reuters reported. US gold futures settled 1% lower at US$4,162.30. Bullion reversed an earlier gain of more than 1% despite weaker-than-expected September US payroll growth, as elevated Treasury yields and the dollar’s weekly strength pressured non-yielding metals. The reversal shows that weaker employment data alone was insufficient to overcome pressure from interest-rate expectations and long-dated bond yields. Platinum also fell 2% to US$1,692.90, while palladium declined 0.5% to US$1,165.75, with all major precious metals heading for weekly losses. These figures are Reuters’ stated 2 October market snapshots, not current live quotations.
Oct 06, 2026 15:58 (GMT+8)