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On September 18, BlackRocks Vivek Paul said in a report that investors may pay more attention to the UKs long-term government bond yields before the UKs autumn budget is announced on November 26. Concerns about the expansion of government borrowing are putting upward pressure on sovereign bond yields in most developed markets. The Bank of England has announced that it will reduce the scale of quantitative tightening to 70 billion pounds in the next year starting in October, which is lower than the level of 100 billion pounds in the past 12 months, which means that the pace of quantitative tightening will slow down. The Bank of England also pointed out that the proportion of long-term government bonds in future government bond sales will be lower than that of medium- and short-term government bonds. Paul said: "Policymakers hope that these measures will help ease the upward pressure on long-term government bond yields that is unique to the UK."Governor of the Republic of Bashkortostan, Russia: The Salavat refinery continues to operate normally.On September 18th, the Federal Reserve announced its first interest rate cut in 2025 and hinted at further rate cuts in the future. Risk appetite permeated Wall Street, and U.S. stocks rose sharply. Thursdays rise in U.S. stocks marked a reversal of traders initial reaction to the Feds decision in the previous trading day, when Wall Street took profits on over-performing technology stocks. Robert Schein, chief investment officer of wealth management firm Blanke Schein, said: "The Fed is cutting interest rates at a time when the stock market is at a record high and the economy is still growing. This is a very unique context, as Fed rate cuts are usually related to economic problems. This dynamic is beneficial to the stock market."The U.S. Conference Board Leading Index monthly rate for August will be released in ten minutes.A U.S. judge ruled against Venezuelas state-run oil company, saying its 2020 defaulted bond issuance was valid.

The price of gold fluctuates about $1,700, and given increased hawkish Fed bets, a decline seems imminent

Alina Haynes

Jul 18, 2022 12:03

 截屏2022-07-15 下午5.36.44_1024x576.png

 

In the early Tokyo session, Gold Price (XAUUSD) tried to break above the consolidation that had been created in a constrained range between $1,703.21 and 1,705.90 on Friday. After a brief squeeze, the precious metal is now showing some symptoms of increased volatility. On Friday, the shiny metal successfully defended the psychological level of $1,700.00, which is also close to Thursday's low. The psychological support of $1,700.00 has undergone two tests, which has increased the importance of the level for market players. The precious metal is currently showing exhaustion indications at lower levels, but additional filters are needed to showcase a bullish turnaround.

 

Despite modest losses on Friday, the US dollar index (DXY) closed the week on a positive note. Weekly results showed that the asset kept winning. The DXY has been making advances for the last three weeks in a row. Despite the asset showing a stronger decline on a shorter timeline, the upside is still justified because to the DXY's overall performance. A downwards move is almost certain to occur since the asset is now auctioning in an inventory distribution phase at roughly 108.00.


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