MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Better US Data And Fed Hiking Prospects Weigh On Bullion

GOLD

Gold prices were 1% lower last week after trading in a range of $1969.31 to $2015.09. They fell 1.1% on Friday after optimistic US data. Today they are down slightly to $1980.55/oz and close to the intraday low of $1978.59, as the USD index is up 0.1%. Support is at $1969.30, the April 19 low.

  • Bullion has been unable to reverse Friday’s losses during the APAC session, as expectations of further Fed hikes persist. This week there will be important data for the May 3 Fed decision, including Q1 GDP and March core PCE prices.
  • The German Ifo survey for April is released later today and also the US Chicago and Dallas Fed Indices. The upbeat April US PMIs on Friday weighed on bullion and so good reads from the Fed indices could also be negative.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.