MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

MNI: BANXICO HOLDS INTERBANK RATE STEADY AT 11.00%

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

MNI: GERMANY IMPORT PRICE INDEX -0.4 % Y/Y, 0.0% M/M

MNI: SWEDEN MAY RETAIL SALES +0.8% Y/Y

MNI: UK Q1 GDP +0.7% Q/Q, +0.3% Y/Y

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

Treaded Water Ahead Of Fed Chair Powell’s Speech At Jackson Hole

GOLD

Gold is slightly weaker in the Asia-Pac session, after closing +0.1% at $1916.91 on Thursday. The resilience of bullion was surprising considering the renewed push higher in the USD index and higher US tsy yields.

  • Possibly supporting the precious metal was news that the Polish central bank made its largest gold purchase in four years in July, boosting its share to more than a tenth of reserves.
  • As a result, gold is on track for its first weekly gain in five ahead of a key speech by Federal Reserve Chair Jerome Powell at the Jackson Hole symposium in Wyoming, where he’s expected to offer clues on the interest-rate outlook.
  • Prior to the Jackson Hole symposium, Fedspeak on Thursday conveyed a blend of perspectives. Taking a more hawkish stance, Boston Fed's Collins emphasised the prudence of maintaining elevated rates for an extended duration, underlining the potential necessity for further adjustments. Collins stated, "A preset path may not be conducive; additional increments might be necessary, and we could be on the cusp of a prolonged period of stability."
  • Conversely, Philly Fed's Harker indicated to MNI that he leans towards endorsing the maintenance of prevailing interest rates until the conclusion of the year and potentially even beyond.
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.