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

PBOC Injects Net CNY142 Bln Thurs; Rates Unchanged

CHINA PBOC INJECTS CNY519 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1212 THURS VS 7.1254

MNI: NORWAY SEP MAINLAND GDP +0.3% M/M, AGG GDP -2.3% M/M

UK Timeline of Key Events (All Times in GMT)

Eurozone Timeline of Key Events (All Times in GMT)

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Under Light Pressure As Tsy Yields Tick Higher

GOLD
Metals bulletEM BulletFixed Income NewsHomepageCommoditiesBulletMarketsEmerging Markets NewsForeign Exchange News

The uptick in Tsy yields has filtered into gold prices as the session wears on, with the broader USD a little above worst levels of the day. Spot gold slipped to as low as $1,965.8/oz. before trading back to $1,968.9/oz as of typing, ~$12/oz softer on the day.

  • A quick reminder that increased geopolitical tensions surrounding Yemeni Houthi group actions in the Red Sea, coupled with fresh multi-month lows for the BBDXY, offset the impact of the modest uptick in yields seen in Asia/early London hours.
  • While the technical trend pattern in gold remains bullish, a clean break of the 50-day EMA ($1,943.4/oz today) would threaten that dynamic and expose the October 16 low ($1,908.3/oz).
115 words

To read the full story

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.

The uptick in Tsy yields has filtered into gold prices as the session wears on, with the broader USD a little above worst levels of the day. Spot gold slipped to as low as $1,965.8/oz. before trading back to $1,968.9/oz as of typing, ~$12/oz softer on the day.

  • A quick reminder that increased geopolitical tensions surrounding Yemeni Houthi group actions in the Red Sea, coupled with fresh multi-month lows for the BBDXY, offset the impact of the modest uptick in yields seen in Asia/early London hours.
  • While the technical trend pattern in gold remains bullish, a clean break of the 50-day EMA ($1,943.4/oz today) would threaten that dynamic and expose the October 16 low ($1,908.3/oz).