The dollar gained on Wednesday as investors priced for strong U.S. growth relative to other regions, while the safe haven Japanese yen weakened to a seven-month low.
forecasts
Price of Gold Fundamental Daily Forecast – Firmer Yields Weighing on Prices Ahead of ADP Jobs DataToday’s ADP Non-Farm Employment Change Report could move the gold market lower if the number comes in well above the 202K forecast.
Mar 03, 2021 12:12 PM GMT
Firming U.S. Treasury yields are keeping pressure on gold futures prices on Wednesday. Despite yesterday’s promising technical chart pattern, the market is currently poised to post its sixth lower session in seven. The catalysts behind the rise in Treasury yields are increasing expectations for further fiscal stimulus.
At 11:42 GMT, April Comex gold futures are trading $1720.10, down $13.50 or -0.78%.
Ernest Werlin: Supporting the economy heraldtribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from heraldtribune.com Daily Mail and Mail on Sunday newspapers.
Australian Dollar Unfazed by Chinese PMI as RBA Meeting Shifts Into View 2021-03-01 02:12:00 Daniel Moss, Analyst
Australian Dollar, Caixin PMI, RBA, Bond Yields, Yield Curve Control – Talking Points:
The Australian Dollar briefly drifted lower on the back of disappointing PMI figures out of China.
The RBA’s attempt to stifle the sell-off in local government bonds may have little impact on AUD.
AUD/USD poised to extend rebound as price surges away from key support. Advertisement
Australian Dollar Unfazed by Disappointing Chinese PMI
The Australian Dollar drifted marginally lower after Chinese Caixin PMI figures undershot market expectations of a 51.4 print in February, coming in slightly lower at 50.9. Manufacturing and non-manufacturing PMI figures released over the weekend also highlighted a notable slowdown in China’s economic recovery.