MNI BRIEF: EU Gentiloni: FinMins Looking At More Flexible NGEU

MNI: PBOC Conducts Net CNY2 Bln Via OMO Tues; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0956 Tues; -4.88% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.0956 TUES VS 7.0947

MNI BRIEF: China Pork Prices Climb For 5th Straight Week

Easter Timing Buoys March Food Retail Sales

MNI: UK BRC MAR BY VALUE SHOP SALES LFL +3.2% YY, TOTAL +3.5% YY

BOC Data Watch

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Moves Off Recent Highs

GOLD

Gold has slipped modestly today, down 0.2% or $4 lower compared to NY closing levels. We remain above $1862 at this stage.

  • Today's pullback is in line with a reduced safe haven bid as equity markets have traded on the front foot throughout Asia Pac, shrugging off a negative lead from US/EU markets overnight.
  • Higher US equity futures are also helping.
  • The USD is mixed, but has gained ground against EUR and JPY, to push the DXY slightly higher. This has also helped gold edge off recent highs.
  • US yields are up modestly, but not too far away from overnight lows. US real yields did dip 5bp overnight (in the 10yr), which supported the post-Asia move through $1860.
  • If we can break above $1870, the market is next likely to target $1885.
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