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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 AccessUnexpectedly Weak On Monday Ahead Of US CPI Data
Gold is slightly stronger in the Asia-Pac session, after closing 1.1% lower at $1981.95 on Monday. Bullion’s weakness came despite limited USD strength and only a small lift in US Treasury yields. Yields initially moved higher on the back of poor US Treasury auctions yesterday but the sell-off was quickly reversed.
- Monday’s downturn precedes the release of today’s US CPI data and the forthcoming FOMC decision on Wednesday. Investors eagerly await the CPI figures, hoping for insights into whether the recent disinflation trend persists, seeking clues about the Federal Reserve's prospective interest rate trajectory for 2024.
- An earlier low of $1976.05 briefly cleared support at $1978.2 (50-day EMA) to open a key support at $1931.7 (Nov 13 low), according to MNI’s technicals team.
To read the full story
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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.