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The UKs official reserves changed by $4.39 billion in March, compared with $646 million in the previous month.The onshore RMB closed at 7.3043 against the U.S. dollar at 16:30 on April 3, down 324 points from the previous trading day.The final value of the UK composite PMI in March was 51.5, expected to be 52, and the previous value was 52.The final value of the UK services PMI in March was 52.5, expected to be 53.2, and the previous value was 53.2.1. Federal Reserve: Traders are betting on a nearly 50% chance of the Fed cutting rates for the fourth time this year, after previously forecasting only three cuts. 2. ECB: Traders are increasing their bets on rate cuts, with a 90% chance of the ECB cutting rates in April and a 68 basis point cut this year. 3. Bank of England: Interest rate futures are pricing in about 60 basis point cuts by the Bank of England for the remainder of 2025, compared with a previous forecast of 54.2 basis points. 4. Reserve Bank of Australia: Bond market pricing has turned dovish, with an 85% chance of a 25 basis point cut by the Reserve Bank of Australia in May, and cuts in August and November. 5. Bank of Japan: Bets on an early rate hike by the Bank of Japan have decreased, with swap rates showing a 9.5% chance of a 25 basis point hike in May.

Gold Prices Increase in Response to Inflation Fears And Ukraine Concerns

Charlie Brooks

Apr 08, 2022 09:26

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By 2:13 p.m. ET, spot gold XAU= was up 0.5 percent to $1,934.69 per ounce (1812 GMT). Gold futures in the United States increased by 0.8 percent to $1,937.80.


"Once inflation resumes, which I believe it will, it will work in favor of gold, even in the face of the Fed's aggressive monetary policy," Jim Wycoff, senior analyst at Kitco Metals, said.


The Fed's March meeting minutes revealed growing anxiety among officials that inflation had spread across the economy, with "many" members preparing to hike interest rates in large 50-basis-point increments in the coming sessions. 


Rising interest rates in the United States raise the potential cost of bullion holdings while strengthening the currency.


The dollar index =USD eased off a near two-year high reached earlier in the day, while benchmark US 10-year Treasury rates likewise remained around a multi-year high reached on Wednesday. 


Ukraine has increased its requests for crushing financial penalties to compel Moscow to terminate the conflict, while NATO nations have decided to bolster their support for Kyiv. 


Wall Street's major indexes sank for the third consecutive day, as growth stocks extended losses on worries about a more hawkish Federal Reserve and the Ukraine crisis.


Palladium XPD= increased by up to 3.7 percent to about $2,278 per ounce.


"Palladium has historically been quite volatile. Today's focus is on recouping some of yesterday's losses, "Miguel Perez-Santalla, Heraeus Metals Management's head of trading, sales, and marketing in New York, concurred. (Entire Story)


Russia produces between 25% and 30% of the world's palladium, a metal used by manufacturers to decrease pollution from engine exhausts.


Silver XAG= increased 0.6 percent to $24.58 per ounce, while platinum XPT= increased 0.9 percent to $961.53.

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