Investment institutions forecast the Conference on Interest Rates in Australia Goldman Sachs Group: The Reserve Bank of Australia may abandon its yield-curve policy, and the outlook for medium-term rate hikes could lag behind other G10 central banks. Nomura Securities: The Reserve Bank of Australia could replace the target bond with one maturing in April 2023, or offer a range of target rates. ANZ Bank: It is expected that the Reserve Bank of Australia will abandon its 0.1% yield control target on the national debt due in April 2024, and is expected to raise rates in second half of next year. Westpac: It's not hard to control Treasury yields, but with damage mobile, the Reserve Bank of Australia won't set a yield control target for shorter-term Treasuries. Morgan Stanley: It is expected that the Reserve Bank of Australia will not emphasize the expected timing of rate hikes this week, but will emphasize clearer guidance on the future based on results. Commonwealth Bank of Aust
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📕 Comment on Gold on April 7, 2022: - In yesterday's trading session, precious metal Gold fell from 1933 to 1915. Yesterday's closing session was around 1924. With Gold not having too many fluctuations in yesterday's session, our opinion My personal preference remains the same as in recent days it is preferable to sell if Gold is in the 1930-1940 zone. - On the D1 chart we can see that although yesterday closed with a bullish candle, in fact this candle did not show an increase, but instead, the increasing force seems to be weaker compared to the previous days. The proof is that last night the highest price Gold recovered was around the threshold of 1932. So in today's session, I think it is possible to sell down with Gold around 1926-1930 with a safe target of 1915-1920. and my expectation Gold will go even deeper.
Gold has failed to benefit from the major escalation in the war. US 10-year yields have crashed, yet the precious metal is far from last week's highs. Bitcoin's fresh appeal is drawing money away from gold. Gold is seen as a safe haven asset and tends to benefit when US Treasury yields tumble down – and returns on Uncle Sam's debt are indeed falling. However, XAU/USD is still stuck at around $1,907, a far cry from the $1,973 level recorded last week. That is a fundamental sign of weakness. *Note: This content first appeared as an answer to a Premium user. Sign up and get unfettered access to our analysts and exclusive content . On the technical side, the picture is more nuanced. While momentum on the 4h-chart is to the downside, gold still trades just on top of the 50 SMA and well above the 100 and 200 SMAs. The precious metal's price is currently consolidating in a narrow range, but the battle lines are clear. Some support is at $1,900, which is a psychologicall