Gold price flattens as US Dollar steadies and GBP flips ahead of BoE

Gold, XAU/USD, US Dollar, GC1, Bond Yields, BoE, PBOC, Fed, AUD – focused topics Gold prices softened in the face of rising government bond yields PBOC tilted policy and now BoE moves into focus after UK CPI data The US dollar could be the key for XAU/USD in this eventful week The gold price struggled … Read more

Poor start to the week; Chinese shares weighed down: Asia Day Ahead

The major US indices started the shortened trading week in the red (DJIA -0.72%; S&P 500 -0.47%; Nasdaq -0.16%), although the significant narrowing of losses at lunchtime, especially for the Nasdaq, may still reflect some strength among buyers. The energy sector (-2.3%) weighed most heavily on the market’s performance overnight, reflecting a drop in oil … Read more

Japanese Yen Retreats as US Dollar Takes Flight Despite Debt Debacle. Higher USD/JPY?

Japanese yen, USD/JPY, US dollar, PBOC, Yellen, Biden US debt ceiling – discussion topics The Japanese yen weakened after domestic CPI and PPI figures rose. China’s PBOC increased liquidity, but equity markets barely reacted. The US debt ceiling is causing turmoil in the markets. Will it drive the USD north? The Japanese yen depreciated again … Read more

Australian dollar falls on Weak China Data. Will AUD/USD test the lows?

Australian Dollar, China’s Economy, AUD/USD, PBOC, RBA, CGB – Talking Points The Australian dollar gave back some gains overnight after weak Chinese data. Industrial production and retail sales fell, as did investment. The RBA minutes showed a rise, or no change was considered. Lower AUD/USD? The Australian dollar fell on doubts about China’s economic recovery … Read more