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Tuesday, August 27, 2024

American Market Recap: The very simple case for buying gold

The very simple case for buying gold

Gold came under some selling pressure earlier today but has rebounded and is trading $7 higher to $2524 in what would be the highest daily close ever. Since hitting an intraday record high of $2531 la... 

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Fed discount rate minutes: Chicago and New York directors favored cuts

At times the discount minutes can offer a preview of something like a coming dissent at the FOMC meeting but it's very well telegraphed that a cut is coming. I suppose someone could dissent for 50 bps... 

White House: Iran is 'postured and poised' to launch an attack on Israel

Iran supreme leader Ali Khamenei White House spokesman Kirby said the US believes Iran is postured and poised to deliver an attack on Israel. A couple weeks ago, there were reports of an 'imminent' at... 

US dollar falls to session lows after strong two-year auction. USD/JPY below 144.00

Today's two-year US Treasury sale was a bit of a gut-check moment for the fixed income market. It was the first test of real-demand at sub-4% yields in this environment. The $69 billion was a big amou... 

US 2-year note auction results 3.874% vs 3.880% WI

US 2s daily Prior was 4.434% On the run 2s were trading at 3.9245% shortly before the auction Bid to cover 2.68 vs 2.81 prior That's a strong auction and note that there has only been one tail at a re... 

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FX option expiries for 23 August 10am New York cut

There is just one to take note of on the day, as highlighted in bold . That being for EUR/USD at the 1.1100 level again. Similar to yesterday, the expiries are likely to help lock price action from fa... 

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