Gold Jun '24 (GCM24)
Gold Futures Market News and Commentary
The dollar index (DXY00) today fell to a 6-week low and is down by -0.33%.  The dollar is under pressure today amid easing geopolitical concerns after Reuters reported that the US and Iran are considering extending a two-week ceasefire that expires on April 22 and could resume negotiations this week in Pakistan. The dollar extended its losses today after US March producers rose less than expected.
US Mar PPI final demand rose +0.5% m/m and +4.0% y/y, weaker than expectations of +1.1% m/m and +4.6% y/y. Mar PPI ex-food and energy rose +0.1% m/m and +3.8% y/y, weaker than expectations of +0.4% m/m and +4.1% y/y.
Swaps markets are discounting the odds at 1% for a +25 bp rate hike at the April 28-29 FOMC meeting.
The dollar continues to be undercut by a poor outlook for interest rate differentials, with the FOMC expected to cut interest rates by at least -25 bp in 2026, while the BOJ and ECB are expected to raise rates by at least +25 bp in 2026.Â
EUR/USD (^EURU... Read more
Barchart · Tue Apr 14, 9:34AM CDT
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