MNI: FED CHAIR JEROME POWELL SCHEDULED TO SPEAK JULY 2

MNI: BANXICO HOLDS INTERBANK RATE STEADY AT 11.00%

MNI BRIEF: Fed's Bowman Says Policy Appears To Be Restrictive

MNI BRIEF: CNB Cuts 2W Repo Rate By 50Bps To 4.75%

MNI China Daily Summary: Thursday, June 27

MNI BRIEF: China EU In Close Communication - MOFCOM

MNI: FED BALANCE SHEET TOTAL ASSETS -$21B TO $7.231T IN WEEK

US Treasury Auction Calendar

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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

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

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

Stronger As Fears Of Further Fed Hikes Fade

GOLD

Gold is +0.3% in the Asia-Pac session, after closing stronger (+0.4%) on Wednesday as traders priced in lower odds of further US monetary tightening in September after the Federal Reserve raised rates to a 5.25-5.50% range, the highest level in 22 years.

  • Front-end US tsys finished 6bp richer than just before the FOMC statement to be 2bp lower in yield on the day. The presser leaned slightly dovish with reiteration of signs of progress for instance in labour market balance and noted the potential impact of tighter credit conditions. Higher rates are typically negative for bullion, which doesn’t yield any interest.
  • The USD dropped alongside lower 2-year US tsy yield.
  • According to MNI’s technicals team, resistance remains at the bull trigger of $1987.5 (Jul 20 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.