One could ask the question: how did the financial system got us into such a mess? First one has to look at the value of anything and nothing… On average:
Gold Price Forecast: XAU/USD Rises as Market Considers Transitory Inflation Theme
2021-05-04 02:00:00
Thomas Westwater,
Analyst
Gold, XAU/USD, Economic Recovery, Treasury Market, Federal Reserve, Inflation – Talking Points
Gold prices shift higher as the US Dollar index and Treasury yields weaken
NY Federal Reserve President Williams another voice for transitory inflation
XAU/USD approaches psychologically imposing 1,800 level, where next?
Gold is driving higher against a weakening US Dollar, with XAU/USD extending the 3.59% gain seen in April. A weaker-than-expected US manufacturing PMI report from the Institute for Supply Management (ISM) didn’t hurt gold’s bullish movement. According to the DailyFX Economic Calendar, ISM manufacturing PMI for April crossed the wires at 60.7 versus the consensus expectation of 65, sending the US Dollar lower.
5/4/2021 5:55:15 AM GMT
Market movers today
Another quiet day awaits us with few signals from the data front. Fed s Kaplan and Daly will be on the wires later in the day.
In Denmark, foreign reserve figures for April are released and it will be interesting to see whether Danmarks Nationalbank continued to intervene in the FX market.
The 60 second overview
Macro: Comments from Fed Chairman Powell and New York Federal Reserve governor Williams supported US government bonds, and 10Y yields declined modestly. Powell stated that recovery is patchy , while Williams stated that We still have a long way to go to achieve a robust and full economic recovery even though he is optimistic regarding the economic outlook, while inflation will settle back around 2%.
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Well-to-do Americans rush to retire in new life-is-short mindset
Craig DiLorenz, retired this year at 58 years old, in Chicago, on April 23, 2021. (Bloomberg photo by Sebastian Hidalgo)
Melissa Marteney in Newburyport, Mass., on April 24. (Bloomberg photo by Kayana Szymczak)
Published May 03. 2021 2:07AM
Alexandre Tanzi and Michael Sasso, Bloomberg
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