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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.
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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Stronger On Russian Unrest & Recessionary Fears
Gold edges higher to 1925.71 (+0.25%) in Asia-Pac trading as geopolitical uncertainty increases following the weekend’s attempted mutiny by Russian mercenary group Wagner. The upside for gold may however prove limited after Wagner leader Yevgeny Prigozhin suddenly halted his dramatic advance toward Moscow.
- Ahead of the weekend, bullion closed 0.4% higher as the market weighed recessionary signals that came from the latest round of PMI data. Advance PMIs for June suggested that the Eurozone economy had slowed sharply with the service sector PMI dropping more than expected and the manufacturing PMI falling further into contractionary territory. In the US, the manufacturing PMI fell more than expected into contractionary territory and sat just above the lows from December of last year.
- Nonetheless, gold closed 1.9% lower last week as hawkish commentary from global central banks weighed.
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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.