MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

NBH Data Watch

INDON Sov Curve Flatter, Trade Surplus Soars, BI Decision Wednesday

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

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

Holding Overnight Gains

GOLD

Gold is largely holding onto to gains from the overnight session. The precious metal was last close to $1665, near NY closing levels, after yesterday's +0.69% gain. This comes despite a slight recovery in USD sentiment, although mvoes amongst the majors have been modest

  • An early attempt to push above $1670 met with resistance. Overnight, gains above this level couldn't be sustained either (highs were near $1675). On the downside, dips to the low $1660 level are being supported. Beyond that is earlier lows this week between $1638/$1643.
  • More broadly, a sustained break above $1670 could pave the way for a test of the 50-day simple MA ($1687.26). ETF gold holdings rose for the first time in 5 sessions yesterday as well.
  • Gold bulls may wish to see a further pull back in US real yields though before turning more constructive.
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.