MNI China Daily Summary: Thursday, June 27

MNI BRIEF: China EU In Close Communication - MOFCOM

MNI BRIEF: China To Hold Key Third Plenum On July 15-18

MNI Brief: China Third Plenum To Deepen Reforms

MNI: PBOC Net Injects CNY80 Bln Via OMO Thurs; Rates Unchanged

Inflation Accelerates in June

Services Expected Prices Remain At Elevated Levels

Thedeen Does Not Commit To Cut In August, Depends on Data

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

Lower Again As Risk-On Sentiment And Higher US Tsy Yields Weigh

GOLD

Gold is 0.4% higher in the Asia-Pac session, after closing -0.4% at $1954.73 on Monday. Bullion’s haven status weighed as risk-on sentiment drove equities and US bond yields higher ahead of Wednesday’s FOMC policy meeting. USD strength also pressured the precious metal.

  • A 25 bp hike is fully priced for Wednesday's FOMC meeting, but there is considerable uncertainty over the outlook. The risk that the Fed's stance is more hawkish than feared weighed on US tsys.
  • The latest US PMIs showed continued services price pressure along with softer expected business activity.
  • From a technical standpoint, gold pushed closer to support at $1949.6 (50-day EMA). Resistance remains at the early Thursday high of $1987.5.
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.