CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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

Rangebound Ahead Of FOMC Decision On Wednesday

GOLD

Gold is 0.3% lower in the Asia-Pacific session, after closing 0.1% lower at $2335.66 on Monday.

  • The yellow metal remains rangebound ahead of Wednesday’s FOMC decision, where policymakers are anticipated to reiterate their commitment to maintaining higher interest rates for an extended period.
  • Historically, gold tends to react negatively to higher interest rates due to its lack of yield-bearing characteristics.
  • Nonetheless, bullion is on track for a third straight month of gains due to strong central bank and haven demand.
  • According to MNI’s technicals team, gold remains in consolidation mode. Having last week pierced the 20-day EMA, a continuation lower would signal scope for an extension towards $2238.8, the 50-day EMA. Key resistance and the bull trigger is at $2431.5, the recent Apr 12 high.
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.