News
ICYMI - Georgia central bank buys $100mn more gold as global reserve demand surges
1+ hour, 23+ min ago (229+ words) The National Bank of Georgia has purchased an additional $100mn worth of highest purity gold bars for its international reserves, lifting the share of monetary gold in its reserves to 15. 5% and pushing total reserves to a record $7. 0bn, equivalent to 114. 8% of the…...
Gold breaks the March lows
9+ hour, 10+ min ago (320+ words) Gold has cracked the March low. The spike low early in the war was $4097 and we've just broken through it. That puts gold back where it was in late November and -- needles to say -- lower for the year. The war…...
U. S. Treasury auctions off $39 billion of 10 year notes at a high yield of 4. 538%
11+ hour, 22+ min ago (211+ words) The only negative was that the domestic buyers were much less than the average. The international buyers made up for the shortfall and the dealers were saddled with less than the average which is indicative of solid demand. US defense…...
The US treasury to auction 10 year notes. Why is it so important?
11+ hour, 29+ min ago (268+ words) The US treasury will auction off $39 billion of 10 year notes at the top of the hour. The current 10 year yield is at 4. 534%. At the last auction the yield was set at 4. 468%. Since the war started on February 28, the low yield…...
Gold is down over 3% and looks to test the March low
13+ hour, 10+ min ago (245+ words) Gold extended its decline today after breaking below its 200-day moving average yesterday, a key technical development. The 200-day moving average currently sits at $4, 415. 51, and the break marked the first sustained move below that benchmark since November 2023. The last meaningful…...
Bank of Canada holds as expected but continues to highlight risks of oil price spillovers
14+ hour, 36+ min ago (344+ words) The BOC slightly altered this key line. It previously said: I'd say that's incrementally hawkish. Governor Tiff Macklem also released the opening text of his statement and it says: If the United States imposes significant new trade restrictions on Canada,…...
What is the distribution of forecasts for the US CPI?
21+ hour, 7+ min ago (321+ words) The ranges of estimates are important in terms of market reaction because when the actual data deviates from the expectations, it creates a surprise effect. Another important input in market's reaction is the distribution of forecasts. In fact, although we…...
USD/JPY continues to flirt with intervention zone for now
19+ hour, 40+ min ago (537+ words) The currency pair continues to keep above the 160. 00 mark so far in trading this week but is not really running away for now. Traders are reserving some caution in not wanting to incur the wrath of Japan's ministry of finance....
Gold extends the losses as hawkish Fed risks keep weighing on precious metals
19+ hour, 52+ min ago (566+ words) Gold extended the losses yesterday as traders likely hedged into a potentially hot US CPI report today. Friday's strong NFP number triggered a hawkish repricing in interest rate expectations and traders are now questioning not if, but when and how…...
US futures hold lower with inflation data in focus
21+ hour, 26+ min ago (367+ words) Traders and investors were sent reeling after the hot US jobs report at the end of last week. Since then, there is an air of nervousness surrounding equities - not least with the US-Iran conflict continuing to rage on. The trepidation…...