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USD, Gold Rally as Treasuries Touch Session Lows Post-CPI

DATA REACT
  • The greenback and Gold were the main beneficiaries of the higher-than-expected CPI release, while Treasury futures edged to fresh session lows alongside equities.
  • Gold clears to fresh monthly highs, narrowing in on the 1850 level. Clearance here opens levels not seen since mid-June and the most recent highs of 1916.6.
  • The US curve now trades sharply bear flatter, with 3y yields adding as much as 7.5bps on the session.
  • The e-mini S&P touch 4658.00 before stabilising, extending losses on the day to 20 points.

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