GOLD: CB Consumer Confidence!
Updated
Fundamental Overview
On Monday, the US Dollar experienced a significant drop as sellers took over after a brief dip on Friday. This happened as the US Treasury bond yields decreased across the curve. The 10-year US Treasury bond yields fell by eight basis points, marking the largest single-day decline since March. Additionally, the 10-year US rates dropped below the 3.50% level once again.
The markets have reassessed their expectations for a potential rate hike by the US Federal Reserve (Fed). It is anticipated that the Fed will take a break after the 25 basis points hike in May. There are indications that the central bank may reduce rates in July, which would result in the year ending below 4.50%. Additionally, concerns surrounding the ongoing drama over the US debt ceiling have led to investors seeking safe haven in US government bonds. This has led to a decline in US Treasury bond yields and the US Dollar.
On Monday, the US Dollar experienced a significant drop as sellers took over after a brief dip on Friday. This happened as the US Treasury bond yields decreased across the curve. The 10-year US Treasury bond yields fell by eight basis points, marking the largest single-day decline since March. Additionally, the 10-year US rates dropped below the 3.50% level once again.
The markets have reassessed their expectations for a potential rate hike by the US Federal Reserve (Fed). It is anticipated that the Fed will take a break after the 25 basis points hike in May. There are indications that the central bank may reduce rates in July, which would result in the year ending below 4.50%. Additionally, concerns surrounding the ongoing drama over the US debt ceiling have led to investors seeking safe haven in US government bonds. This has led to a decline in US Treasury bond yields and the US Dollar.
Trade closed: stop reached
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