MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: NORTH RHINE WESTPHALIA CPI +0.3% M/M, +2.3% Y/Y

MNI: GERMANY Q2 FLASH GDP  -0.1% Q/Q (+0.1% FCST, +0.2% PRIOR)

MNI: ITALY Q2 FLASH GDP  +0.2% Q/Q (+0.2% FCST, +0.3% PRIOR)

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Bullion Retreats As USD Advances

GOLD

Gold prices are down 0.4% during APAC trading to $1846.90/oz as the USD has rallied 0.25%. They fell following the US CPI which saw the monthly increase in headline rise and the annual inflation rates higher than expected. But gold bounced back and range traded late in the NY session.

  • Bullion remains above its Tuesday low of $1843.36 today but is now below its 50-day simple MA and the Feb 14 low of $1850.50. Near-term support is $1825.50, the January 5 low.
  • Fed speakers on Tuesday talked of the need for further rate hikes to rein in inflation but were not of the same view regarding where the terminal rate would be. A hawkish tone to the Fed has been weighing on bullion this month.
  • Later today January US retail sales print and a strong outcome of 1.8% m/m is expected but the control group is forecast to rise only 0.3%. There are also US business inventories and IP and UK inflation data. No Fed officials are scheduled to speak.
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.