MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

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Higher After Friday’s Spike Reversal

GOLD
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Gold is 0.6% higher at $2357.66 in the Asia-Pac session, after Iran’s military launched drones and missiles against Israel over the weekend, in a significant escalation of hostilities.

  • Interestingly, US tsys aree dealing weaker today after Friday’s rally.
  • Today’s move comes after bullion surged to a fresh record high of $2431.52 on Friday before the gains were pared.
  • The underlying safe-haven demand for the US dollar exerted itself in the latter half of Friday’s session, prompting a significant reversal lower for the precious metal.
  • (Bloomberg) Gold is in an “unshakeable bull market,” according to Goldman Sachs Group Inc., which raised its year-end forecast for the precious metal to $2,700/oz. (See link)
  • According to MNI’s technicals team, the next objective is $2376.5, a Fibonacci projection.
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Gold is 0.6% higher at $2357.66 in the Asia-Pac session, after Iran’s military launched drones and missiles against Israel over the weekend, in a significant escalation of hostilities.

  • Interestingly, US tsys aree dealing weaker today after Friday’s rally.
  • Today’s move comes after bullion surged to a fresh record high of $2431.52 on Friday before the gains were pared.
  • The underlying safe-haven demand for the US dollar exerted itself in the latter half of Friday’s session, prompting a significant reversal lower for the precious metal.
  • (Bloomberg) Gold is in an “unshakeable bull market,” according to Goldman Sachs Group Inc., which raised its year-end forecast for the precious metal to $2,700/oz. (See link)
  • According to MNI’s technicals team, the next objective is $2376.5, a Fibonacci projection.