Fed Bostic News Today

The Pound US Dollar (GBP/USD) exchange rate was trading without a clear direction on Monday as markets mulled over the latest central bank commentary.

Australian monthly inflation data, for February 2024

The yuan’s sharp rebound this morning triggered some attention, if only because other news was so limited today. USD/CNY shot up last Friday on signals that Chinese authorities loosened their grip on the 7.2 handle it defended for several months. Clearly they weren’t expecting nor hoping for such an abrupt move.

News flow is thin and that will stay so for the remainder of the day. Volumes are further reduced by the US public holiday (President’s Day), suggesting some sentiment-driven trading within existing technical ranges. Later this week, attention shifts to an ECB tracker of negotiated wages (tomorrow), Minutes of previous Fed (Wednesday) and ECB (Thursday) meetings and global February PMI’s (Thursday).

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Nvidia releases earnings on Wednesday after the close.

Gold price (XAU/USD) has executed a short-term recovery move in the midst of a persistent downtrend.

The AUD/USD pair retreats from 0.6570 as the US Dollar Index (DXY) has recovered swiftly in the early New York session.

After last week’s bond/equity rally and USD correction, markets might look for a new short‐term equilibrium. Several key technical levels are under severe strain. For the US 10‐y yield we look out whether the 4.5% area holds. The German 10‐y yield dropped below the 2.68% neckline, with the 2.56/60% area a next reference. For EUR/USD, 1.0764 (38% retracement July top/Oct low) is a key resistance. For bonds as well as for the USD correction, maybe the easy part of the move might be behind ...

Gold price (XAU/USD) has reported a corrective move to near $1,910.00 in the London session. The precious metal is under pressure as consistent reiter