RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: SNB CUTS KEY POLICY RATE BY 50 BPS TO 0.5%

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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

Pushes To A Three-Week High After PCE Deflator Data

GOLD

Gold is slightly higher in the Asia-Pac session, after closing 0.5% higher at $2044.30 on Thursday.

  • Bullion rose to a three-week high after inflation figures matched expectations and reinforced bets that the Federal Reserve won’t need to raise interest rates again.
  • US Treasuries finished the NY session 1-2bps richer. The US 10-year yield finished 1bp lower at 4.26% after pushing as high as 4.32% ahead of the PCE deflator data.
  • The US PCE deflator, which is the Fed’s preferred inflation gauge, printed in line with market expectations, with the core measure up 0.4% m/m and 2.8% y/y. This confirmed the jump in inflation in January, as foreshadowed by prior CPI and PPI data.
  • Fed speak remained balanced while leaning toward cut(s) in 2H'24. Fed Bostic reiterated that the central bank is likely going to be in a position to begin easing interest rates sometime in the summer.
  • According to MNI’s technical team, Thursday’s high of $2050.72 cleared resistance at $2041.1 (Feb 23 high) and opened the key level of $2065.5 (Feb 1 high).
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.