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The US yields are trading at session lows with the 10-year yield now down -6.8 basis points. The 2 year is down -3.8 basis points. The fall in yields is being impacted by lower stocks (flight to safety) as Univ of Michigan consumer sentiment fell while inflation expectations moved higher. That is not a good
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Gold prices edged higher on Thursday, hovering near their all-time highs as concerns persisted over U.S. President Donald Trump’s tariff strategies, which could fuel inflation and escalate a global trade war. FUNDAMENTALS * Spot gold rose 0.2% to $2,938.57 an ounce, as of 0027 GMT. Bullion scaled an all-time high of $2,946.85 on Wednesday. *
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Yen remains the standout performer, even though momentum had moderated slightly. Discussions surrounding BoJ’s next move continue to dominate, particularly in a low-activity session with both US and Canadian markets closed for holidays. After stronger than expected Japanese Q4 GDP report, market expectations for a July rate hike to 0.75% have strengthened to around 80%.
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Forex markets remained subdued today, with muted reactions to key economic data. Dollar held broadly higher as traders focused on the US-Russia peace talks, where both sides agreed to continue discussions on ending Russia’s invasion of Ukraine. However, meaningful progress is unlikely without direct involvement from Ukraine and European nations, keeping market uncertainty elevated. Canadian
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