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Gold still reeling from higher US yields
It seems to me that it is only trepidation keeping the USD/JPY under wraps right now. That is because of the looming Bank of Japan policy decision tomorrow and concern that the BOJ might act in some way to stem the rising dollar tide. At the same time, US bond yields are still rising and that is supporting the dollar. What that is also doing is further undermining the attractiveness of Gold. So, the metal has fallen back further since my last update and further below its 200 day moving average. So, it is US yields doing the damage right now and not the USD/JPY. Gold has fallen to as low as $1,914.17 a short while ago. It is above that low now, but remains under pressure this side of $1,924. Gold is just now at $1,917.90
Market News
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BOE boss continues to add caution over UK inflation- EUR/GBP on course for a negative daily close
Following the Bank of England decision to leave interest rates unchanged at 4.5%, the BOE governor, Andrew Bailey has been speaking this afternoon... -
S+P 500 back above 5,700 this afternoon
At one point earlier today when the S+P 500 futures were pricing an opening close to 5,625, it seemed unlikely they might push back above 5,700 this... -
US stocks kick off in the red but opening losses pared- check out the Nasdaq 100 now
The US stock markets have not long ago opened for live trading and it has been an across the board lower start to the new trading session. The dollar...
