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Gold Jumps Back Above 200DMA As USDJPY & Stocks Continue Slide
Sunday, May 4, 2014 20:27
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from ZeroHedge:
The weekend’s re-escalation in Ukraine has sent gold popping $10 (and back above its 200DMA) and FX carry (and thus US equities) sliding in the early overnight trading. With Japan out (and Europe set for another holiday) volume are, and will likely remain, low. Critically, USDJPY is back under 102, even as Japan’s central bank governor proclaims:
*KURODA SAYS PRIVATE ECONONISTS UNDERESTIMATE JAPAN, CNBC SAYS (but the government ones are spot on?)
Which means Nikkei futures are also lower – down over 300 points from Friday’s highs (and Chinese stocks are falling on the back another weak PMI print). Treasury futures are bid suggest 2bps more yield compression back below Friday’s low yields at 2.57% for the 10Y.
