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On November 10th, US Treasury yields rose as investor risk appetite recovered after the US Senate cleared a key hurdle, paving the way for a possible end to the government shutdown. This weakened demand for safe-haven assets such as government bonds. "The renewed hope may boost risk appetite and prompt investors to move away from US Treasuries," said Konstantinos Chrysikos of Kudotrade in a report. He noted that this weeks focus will shift to speeches by Federal Reserve officials, which could provide clues about the prospect of further interest rate cuts. According to LSEG data, the money market is currently pricing in a 66% probability of a 25 basis point rate cut in December. According to Tradeweb data, the yield on the two-year US Treasury note rose 4 basis points to 3.596%, while the ten-year yield rose 3.7 basis points to 4.130%.Tesla (TSLA.O) registered stock for CEO Elon Musks compensation package.On November 10th, the State Administration for Market Regulation issued a "Compliance Guidelines for Online Centralized Promotions during the Double 11 Shopping Festival" to major e-commerce platforms to regulate promotional activities, maintain online transaction order during the "Double 11" period, and protect consumers legitimate rights and interests. The guidelines emphasize strict regulation of promotional activities, prohibiting illegal practices such as "forced exclusivity agreements" and "price discrimination based on big data." Promotional rules must be clear and transparent, specifying conditions of use, refund and cancellation procedures, and expiration dates for key aspects such as discounts, coupons, pre-sales, and price guarantees, thereby enhancing the transparency of promotional activities.Federal Reserves Daly: Tariff-driven price increases have not spread to a wider range of inflation.Federal Reserves Daly: The Fed needs to guard against inflation risks, but it should not ignore the possibility of a productivity boom and faster non-inflationary growth.

Gold Price Prediction: XAU/USD soars above $1,780 amidst a turbulent US Dollar; US CPI in the focus

Daniel Rogers

Dec 13, 2022 12:07

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Gold price (XAU/USD) rebounded after falling below the critical level of $1,780.00 during the Asian session. The precious metal had a significant decline on Monday as investors anticipate the Federal Reserve (Fed) to signal a higher interest rate peak for CY2023.

 

A resurgence in the price of gold is contingent on an improvement in risk appetite. The US Dollar Index (DXY) has fallen below 105.00 in early trading, and further losses are anticipated in the days ahead. On Monday, S&P500 futures rebounded well as investors shrugged aside the uncertainty caused by inflation predictions. Yields on 10-year US Treasuries have under pressure and fallen below 3.60 percent as the Fed is very likely to signal a pause in future interest rate hikes.

 

A fall in one-year consumer inflation forecasts in the United States has also diminished consensus on casual inflation statistics. In November, the economic data decreased to 5.2% from 5.9% in October, marking the largest one-month loss on record. The headline inflation rate is anticipated to decline to 7.3% from 7.7%.

 

Analysts at JP Morgan Chase & Co. believe that a weak reading of the United States Consumer Price Index (CPI) might unleash a significant surge in U.S. stocks. Bloomberg reports that the 500-stock index of the United States might gain up to 10% if headline inflation falls to 6.9% or less.

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