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JPMorgan Chase: The Federal Reserve is expected to raise interest rates by 25 basis points in December 2026, compared with previous forecasts that interest rates would remain unchanged this year.July 30th - On Thursday, demand at the auction of Japanese two-year government bonds was lower than the 12-month average, as the market widely anticipated a tightening of monetary policy by the Bank of Japan. The subscription multiple was 3.63, compared to 4.82 at the previous auction, and the 12-month average is 3.81. Another sign of weak investor interest was the tail spread (the difference between the average bid and the minimum acceptable bid) at 0.007, compared to 0.005 last month. Recently, yields on short-term Japanese government bonds, which are more sensitive to monetary policy, have risen due to increased oil prices caused by tensions in the Middle East and heightened concerns about fuel inflation. The two-year yield has now risen to 1.47%, close to the high of 1.52% reached earlier this month. This further increases pressure on the Bank of Japan to raise interest rates.Shunichi Suzuki, Secretary-General of the Democratic Party of Japan: The goal is to submit a tax reduction bill during the autumn Diet session.The bid-to-cover ratio for Japans 2-year government bonds was 3.63, lower than the 4.82 achieved in the previous issuance in June.Shunichi Suzuki, Secretary-General of the Democratic Party of Japan: Because tax revenue exceeded expectations, we can ensure funding for temporary tax cuts.

The international gold price looks at $1738 in the future

Oct 26, 2021 11:01

On Monday (October 11), international gold prices were slightly under pressure, due to the stabilization of the US dollar index and concerns that the Fed may begin to reduce stimulus this year amid weak employment data. Looking at the price of gold, the market outlook is $1738 per ounce.

At GMT+8 13:55, spot gold fell 0.04% to US$1756.46 per ounce; the main COMEX gold contract fell 0.07% to US$1756.3 per ounce; the US dollar index rose 0.01% to 94.117.


Last Friday (October 8), after the U.S. non-agricultural employment data was released, the price of gold hit a new high since September 22 to $1,781.41 per ounce, but in the end it gave up most of the gains and closed only 0.08% higher to $1,57.19 /ounce.

Data from the US Department of Labor last Friday showed that US employment increased by 194,000 in September, far below the expected increase of 500,000, and the increase was the smallest in nine months, affected by reduced school recruitment and labor shortages.

Despite the sharp slowdown in employment growth in September, as the latest wave of viral infections in the United States peaked and started to fall, coupled with the end of the generous unemployment subsidy program, employment growth may be boosted in the coming months. The Fed may begin to reduce its support for the economy next month.

On the daily chart, the price of gold has started a three-wave downward trend from US$1,781, and the support below looks to the 38.2% target of US$1738. Wave 3 is a sub-wave of the downward (3) wave that started at $1834. (3) Lang's 61.8% target is at $1688. (3) Wave is a sub-wave of the downward ((Y)) wave that started from 1917 USD. The ((Y)) wave belongs to the adjusted IV wave that started at $2,075.

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