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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1315 Fri; -1.12% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1315 FRI VS 7.1339

MNI BRIEF: Fed's Musalem: Interest Rates Likely To Be 3.5%-4% Over Long Run

FED’S DALY: POLICY ADJUSTMENTS LIKELY WARRANTED AT SOME POINT

MNI BRIEF: Japan MOF Official Not Commenting On FX Action

MNI: US JUN TREASURY BUDGET -66B

US Treasury Auction Calendar

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

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

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Holding At Six-Week Lows

GOLD

Gold remains relatively unchanged in the Asia-Pacific session, holding steady after experiencing a 0.9% decline on Wednesday, with prices closing at 1957.16, slightly above the six-week low.

  • After tumbling last week to the lowest since early April, bullion has been trading in a tight range as investors wait for more clarity on the debt-ceiling standoff and the Federal Reserve’s rate path.
  • There was no progress in resolving the US debt impasse on Wednesday.
  • Bullion is facing headwinds from growing bets on another Federal Reserve rate hike this year. The release of the minutes from the May FOMC meeting revealed a division among officials regarding their support for further interest rate hikes, emphasising the importance of maintaining flexibility. A tighter monetary policy tends to undermine the non-yielding asset.
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