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Gold Price Forecast: XAU/USD treads water near $1,800, bearish bias stays intact
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5/25/2021 12:14:03 PM GMT | By Eren Sengezer
USD/JPY edges higher toward 109.00 during European session.
US Dollar Index touched its lowest level since early January on Tuesday.
10-year US T-bond yield is falling for the fourth straight day.
The USD/JPY pair registered small losses on Monday and started to inch higher on Tuesday. However, the lack of momentum in the movements suggests that the pair is in a technical consolidation phase. As of writing, USD/JPY was up 0.11% on a daily basis at 108.85.
USD remains on the back foot
On Monday, the broad-based USD weakness forced USD/JPY to push lower. Additionally, the benchmark 10-year US Treasury bond yield lost 1% and further weighed on the pair. Although the US Dollar Index extended its slide and touched its lowest level since January at 89.53, the risk-positive market environment seems to be making it difficult for the safe-haven JPY to find demand.
Inflationistas ready to throw in the towel, consumer expectations drop, Moderna vaccine safe for adolescents, Hungary ready to tighten, another CBRT sacking
May 25, 2021SharePrint
Fed governors reiterate that inflation is transitory
Inflationistas look like they might be ready to throw in the towel. We are supposed to be seeing accelerating growth and mounting price pressures, but right now the surge across commodity prices has eased (copper, lumber, iron ore, and even soft grains), the housing market hit a top, and consumers’ short-term optimism retreated. The inflation debate is not over, but the majority of Wall Street believes it will be transitory.
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