MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025

MNI BRIEF: Q1 Cross Border Activity Up 117.8% - Ministry

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

MNI: EUROZONE FEB CONSTRUCTION OUTPUT +1.8% M/M, -0.4% Y/Y

Q1 Industry Survey Suggests H1 Growth Tailwind

Indonesian Sov Curve Flattens, Barclays See BI Cutting Next Week

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

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

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Gold Prices Range Bound As Waiting For US CPI And FOMC

GOLD

Gold prices trended up during today’s session on a slightly weaker USD but have almost given up the gains to be almost flat to the NY close. It is now trading around $1782.30/oz. Gold prices fell overnight after UST yields rose.

  • Bullion reached a low today of $1777.64 before rising to a high of $1796.39. Resistance remains at $1807.90, August 10 high, which could be tested again if US CPI undershoots expectations. Support is at $1761.80, the 20-day EMA.
  • Tonight’s US CPI report for November will be important for gold prices given the inverse relationship with the USD. Headline CPI is expected to moderate to 7.3% y/y from 7.7% and core to 6.1% y/y from 6.3%. The FOMC announcement is Wednesday and a 50bp hike is expected.
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.