U.S. gold futures were little changed at $1,884.30.
While the macroeconomic background and the weaker dollar is still supportive for bullion, “gold is increasingly starting to show signs that it needs to just consolidate” following a strong rally since April, said Saxo Bank analyst Ole Hansen.
“Generally, the comments from the Fed members yesterday were quite soothing in terms of inflation expectations, that may just have reduced a little bit of the appeal here in the short term,” Hansen said.
Gold is considered a hedge against inflation, but higher interest rates will dull its appeal as they translate into a higher opportunity cost of holding the non-yielding asset.
Market Strength, NABE Survey, Volume Drop, Crypto Mining, Trading MSFT and AAPL The NABE survey is what moved markets on Monday. Don t let some non-practitioner tell you differently.
May 25, 2021 | 08:01 AM EDT Never let the future disturb you. You will meet it, if you have to, with the same weapons of reason which today arm you against the present. Marcus Aurelius, stoic philosopher and last of the Five Good Emperors. Maybe, but you are probably better off handling the present with an eye on the future. You re old buddy, Sarge, late-night philosopher, and one of far too many semi-mediocre economists.
WASHINGTON (dpa-AFX) - Treasuries showed a notable move to the upside during trading on Tuesday, extending the upward trend seen over the past few sessions.Bond prices moved modestly higher in
USD/CHF off multi-month lows, still in the red around 0.8960-55 ahead of US dataNEWS |
5/25/2021 12:46:31 PM GMT | By Haresh Menghani
A broad-based USD weakness prompted some fresh selling around USD/CHF on Tuesday.
Dovish Fed expectations, sliding US bone yields continued exerting pressure on the buck.
The upbeat market mood undermined the safe-haven CHF and helped limit the downside.
The USD/CHF pair maintained its offered tone through the mid-European session, albeit has managed to rebound around 30 pips from over three-month lows touched earlier this Tuesday. The pair was last seen trading near the 0.8960 region, still down nearly 0.15% for the day.
5/25/2021 6:48:02 AM GMT | By Haresh Menghani
Sustained USD selling exerted some pressure on USD/CAD for the second straight day.
Retreating US bond yields, the risk-on mood continued weighing on the safe-haven USD.
Bullish crude oil prices underpinned the loonie and contributed to the modest downtick.
The USD/CAD pair traded with a mild negative bias heading into the European session and was last seen hovering around the 1.2040-35 region.
The pair, so far, has struggled to register any meaningful recovery and remained well within the striking distance of the lowest level since May 2015 touched last week. The US dollar languished near multi-month lows. Apart from this, bullish crude oil prices underpinned the commodity-linked loonie and acted as a headwind for the USD/CAD pair.