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July 6, 2021 Daily FX Market Roundup 07.06.2021 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management The June FOMC meeting minutes is one of this week’s key event risks. The Federal Reserve grew less dovish last month by opening the door to the discussion of reducing asset purchases but since then disappointing U.S. data has investors questioning the timing of taper and ruling out an interest rate hike. Although Friday’s non-farm payrolls report showed the strongest job growth in 10 months, average hourly earnings and the jobless rate fell short of expectations. Today, the Institute of Supply Management reported a slowdown in service sector growth with their non-manufacturing index falling from 64 to 60.1. This was not only weaker than anticipated but the worse reading in 4 months. ....
USD/JPY Mirrors Decline in US Treasury Yields Ahead of FOMC Minutes dailyfx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyfx.com Daily Mail and Mail on Sunday newspapers.
USD/JPY Rate Tracks US Treasury Yields Ahead of FOMC Rate Decision 2021-04-28 14:00:00 David Song, Strategist Japanese Yen Talking Points USD/JPY carves a series of higher highs and lows ahead of the Federal Reserve interest rate decision as the 10-Year US Treasury yield climbs to a fresh weekly high (1.65%), and the exchange rate may continue to retrace the decline from earlier this month if the central bank adopts a less dovish forward guidance for monetary policy. Advertisement USD/JPY Rate Tracks US Treasury Yields Ahead of FOMC Rate Decision USD/JPY appears to have reversed course ahead of the March low (106.37) as it trades back above the 50-Day SMA (108.41), and it remains to be seen if the Fed rate decision will derail the recent advance in the exchange rate as a bull-flag formation appears to be playing out in the 10-Year US Treasury yield. ....
Gold Price Tracks Weakness in US Treasury Yields Ahead of Fed Meeting 2021-01-23 22:00:00 David Song, Strategist Gold Talking Points The price of gold pulls back from the weekly high ($1875) to largely track the recent weakness in longer-dated US Treasury yields, and the Federal Reserve’s first meeting for 2021 may do little to prop up the precious metal as the central bank relies on its non-standard tools to achieve its policy targets. Fundamental Forecast for Gold: Bearish The price of gold may continue to give back the rebound from the monthly low ($1803) as the Federal Open Market Committee (FOMC) remains “commitment to using its full range of tools to support the U.S. economy during this challenging time,” and it seems as though the central bank will continue to utilize its balance sheet “until substantial further progress has been made toward reaching the Committee s maxim ....