Gold awaits inflation report - London Business News | Londonlovesbusiness.com
Discover the impact of U.S. inflation report on gold prices. Find out how monetary policy affects the value of gold.
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Discover the impact of U.S. inflation report on gold prices. Find out how monetary policy affects the value of gold.
Forex news for Asian trading on Thursday, 30 May 2024
Atlanta Fed President Raphael Bostic indicated that interest rate cuts might be on the table by the fourth quarter of this year, provided economic conditions align with his expectations.
The US financial markets were enveloped in a wave of risk aversion that continued into Asian session, primarily driven by the notable surge in Treasury yields. This uptick in yields followed an auction of seven-year debt that closed with higher than anticipated yields, raising alarms about weakening demand for US Treasuries. This concern was compounded by similar outcomes from auctions of two-year and five-year notes on Tuesday, suggesting a broader hesitation among investors.
Stock markets diverged Thursday, a day ahead of key inflation indicators that could determine the future direction of interest rates on both sides of the Atlantic.