MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

MNI: BANK OF KOREA KEEPS POLICY RATE AT 3.50%: PRESS

Japan May Machine Orders -3.2% M/M

MNI JAPAN MAY CORE MACHINE ORDERS -3.2% M/M; APRIL -2.9%

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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

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

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

Bullion Waiting For Fed’s Powell To Appear Later

GOLD

Gold has been trading in a narrow range during the APAC session after falling 0.5% on Monday due to higher US yields. It is currently in a holding pattern ahead of Fed Chairman Powell’s appearance later and is around $1848.15/oz having reached a high of $1850.52 following a low of $1844.15. The USD index is 0.1% lower.

  • Gold is trading below its 50-day moving average. Initial resistance sits at $1858.26, while support is at $1804.90, the February 28 low, which is also the bear trigger.
  • Later Fed Chairman Powell appears before the Senate banking panel. His comments will be watched closely for clarification on the monetary policy outlook but he is expected to say that the terminal rate will be higher than expected at the last meeting. This would be negative for bullion. He appears before the House on Wednesday. The data calendar is light with only US wholesale inventories and consumer credit scheduled.
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.