USD Strength Pushing Gold Prices Down FOREX TRADING GOLD
US stocks rebounded in late trading, a day after severe inflation caused the biggest defeat in more than two years
The benchmark index fell more than 4 percent on Tuesday after a shocking US consumer price figure prompted investors to increase bets on interest rate increases. Swaps traders are now pricing in a three-quarter percentage point rise when the Fed meets next week, with some bets emerging for a full point move. The two-year Treasury yield, which is most sensitive to policy changes, rose 2 basis points after jumping as much as 22 basis points on Tuesday, pushing it more than 30 basis points above the 10-year rate. This deepened the curve inversion in what is generally considered a recession warning.
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