RPT-MNI INTERVIEW: Kaplan Says Loose Fiscal Is Holding Up Cut

MNI: Japan Dai-ichi Life To Up 30-Year JGBs Above 2%

MNI BRIEF: Policy Move Eyed If Inflation Meets 2% - BOJ's Ueda

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

EZ/UK T-Bill Calendar: Greece, Italy Auction on Wednesday

April PMIs: Price Pressures Amid Stronger But Uneven Growth

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Rangebound, As Higher Core Yields Help Offset Weaker USD Post BoJ

GOLD

Gold spiked post the BoJ announcement but couldn't get much beyond the $1795 level. We last sit close to $1790, only up slightly for the session and lagging broader USD index moves (BBDXY -0.30%).

  • In terms of near term levels, Monday session highs were close to $1799, while on the downside dips sub $1785 have been supported. Overall though we remain range bound.
  • A firmer yen, to the extent that it spills over to broader USD weakness, should be positive gold. However, the evidence is mixed on this so far, with the USD mostly recovering (ex JPY) post the BoJ.
  • The spill over of higher Japan yields to the rest of the world may also work against gold demand. We saw last week gold suffered amidst a more hawkish ECB outlook.
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.