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BoE's MPC member Ramsden: Pick-up in gilt yields is a corollary of more positive news in economy, not inflation worry

  • There will be a high bar to unwinding UK monetary easing
  • We do keep a close eye on markets, there has been volatility in recent days
  • Gilt market pricing is orderly as of now
  • I see market moves as a reflation trade, not an inflation trade
  • Reflation trade is driven by U.S.

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13:16 21.04.2021
Gold price to climb towards the $1857/83 area - Credit Suisse
FXStreet notes that gold has set a base above $1755/65 after retesting long-term support at $1682/71. Strategists at Credit Suisse expect XAU/USD to rise towards the $1835 mark.“Gold has retested and again held key support at $1682/71 - the 38.2% retracement of the entire 2015/2020 bull market and the recent and June 2020 lows - and the subsequent break above $1755/65 has seen a near-term ‘double bottom’ base established.”“We look for a recovery back to $1835, potentially the 200-day average and
12:58 21.04.2021
U.S. inflation could hit 3% or 4% by the middle of 2022 - strategist
CNBC reports that there is a growing body of strategists that believe investors are underestimating the outlook for consumer prices.David Roche, president of investment firm Independent Strategy, told that he believed the U.S. inflation rate, which stood at 2.6% in March from a year ago, could rise much further.“My own view is that we will see inflation of probably 3 or 4% by the middle of next year and that is completely inconsistent with, say, U.S. 10-year bond yields being at 1.6%. That yield
12:40 21.04.2021
CAD: vulnerable to any dovish surprises from the BoC - Credit Agricole
eFXdata reports that Credit Agricole discusses its expectations for BoC policy meeting."We believe that FX investors are cautious ahead of the April BoC meeting. Ahead of the meeting, investors expect the MPC to announce the start of its QE taper. In our view, a reduction in the pace of asset purchases could be indeed announced this week. Moreover, the BoC could push against the recent frontloading of rate hike expectations," CACIB notes. "Also focus will be on the Canadian CPI data for March.
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