What to watch today: Nasdaq, S&P 500 futures hit by another jump in Treasury yields msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
The yield on the benchmark 10-year Treasury note rose slightly on the day to 1.41%. The yield on the 30-year Treasury bond climbed about 2 basis point to 2.411%. Yields move inversely to prices (1 basis point equals 0.01%).
The 10-year hit a high of 1.689% earlier in the session, its highest level since Jan. 24, 2020. The 30-year also hit its highest levels since early last year. The 10-year was trading nearly 1.66% when the Fed announcement was released at 2 p.m., and rates drifted lower as Fed Chair Jerome Powell reinforced a dovish stance for the central bank during his afternoon press conference.
The Federal Open Market Committee voted to keep its benchmark interest rate near zero and to continue its asset buying program of at least $120 billion in bonds a month. The central bank indicated that it did not expect to hike the interest rate through 2023.
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Gold Price Analysis: XAU/USD braces for $1,778 key hurdle on Fed day – Confluence DetectorNEWS |
3/17/2021 4:59:11 AM GMT | By Anil Panchal
Gold picks up bids to $1,737.30, up 0.33% intraday, ahead of Wednesday’s European session as geopolitical risk catalysts join the US dollar’s pre-Fed dull performance.
While Sino-American and US-Iran tussles are back in focus, challenges to the Federal Reserve Chairman Jerome Powell, in assuring traders of no tapering despite fiscal stimulus, seems to weigh on the US 10-year Treasury yield and offer extra strength to the yellow metal. However, the bond bears are still waiting for the Fed and may quickly retake controls as they’re not far from the recently refreshed yearly tops, which in turn probes gold buyers.
Gold Price News and Forecast: XAU/USD remains below $1740-42 supply zone ahead of FOMCNEWS |
3/17/2021 12:37:28 PM GMT | By FXStreet Team
Gold Price Analysis: XAU/USD braces for $1,778 key hurdle on Fed day – Confluence Detector
Gold picks up bids to $1,737.30, up 0.33% intraday, ahead of Wednesday’s European session as geopolitical risk catalysts join the US dollar’s pre-Fed dull performance.
While Sino-American and US-Iran tussles are back in focus, challenges to the Federal Reserve Chairman Jerome Powell, in assuring traders of no tapering despite fiscal stimulus,
seems to weigh on the US 10-year Treasury yield and offer extra strength to the yellow metal. However, the bond bears are still waiting for the Fed and may quickly retake controls as they’re not far from the recently refreshed yearly tops, which in turn probes gold buyers. Read more.