BOC WILL BE CONSDIERING FURTHER RATE CUTS

BOC DOESN'T SEE A RECESSION, RATHER SLOW GROWTH

BOC SAYS WEAKER CAD DRIVEN BY USD STRENGTH

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Prices Up Again Ahead Of Fed Chairman Powell

GOLD

Gold prices are up again today by 0.3% to $1754.50/oz supported by a weaker USD (DXY -0.3%). Bullion has been trading above $1750 for most of the session.

  • Trend conditions for gold remain bullish but prices have not made much progress to the bull trigger at $1786.50, the November 15 high.
  • November has been a good month for gold prices driven by signals that the Fed will slow its tightening pace at its December meeting. A clear communication from China that it is going to ease restrictions should boost gold prices further.
  • Tonight Fed Chairman Powell speaks and is expected to signal the size of the next rate move. Gold prices are likely to react inversely to the USD. Fed Governors Cook and Bowman are also scheduled to speak. On the data front there is US trade, JOLTS and ADP job data.
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.