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Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
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Emerging Markets
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Data
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Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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About Us
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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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
MNI ASIA MARKETS ANALYSIS:Waiting For Next Inflation Shoe Drop
Key Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
Lower US Treasury Yields Provide Support
Gold is 0.5% higher in the Asia-Pac session, after closing 1.2% higher at $2355.32 on Wednesday. The yellow metal has been in a $2,320-2,360 for most of the last nine sessions.
- Bullion was supported by US Treasuries, which extended their recent rally to a fifth day.
- US Treasuries cheered further signs of a slowing job market and cooling price pressures, with the BoC's policy easing and plans for another in July bolstering hopes for global rate cuts.
- ADP jobs gain was lower than expected at +152k vs. +175k est (192k prior down-revised to +188k).
- Fast two-way flow reported after mixed ISM Services data: Index higher than exp (53.8 vs. 51.0 est) but lower Prices Paid (58.1 vs. 59.0 est).
- The focus now turns to Thursday's Weekly Claims and Unit Labor Costs as well as the ECB Policy Decision, followed by Friday's Non-Farm Payrolls data.
- According to MNI’s technicals team,a bear cycle in gold remains in play for now, although the medium-term trend structure is bullish, and the recent move down appears to be a correction that is allowing an overbought condition to unwind.
- A resumption of gains would open $2,452.5 next, a Fibonacci projection. The 50-day EMA, at $2,312.0, represents a key support.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.