U.S. Treasury Yields Steady as Investors Await Economic Data
U.S. Treasury yields showed little change on Tuesday, with the 10-year yield slightly down to 4.6189% and the 2-year yield hovering around 4.9805%. Investors await key economic indicators throughout the week, including the Fed’s preferred inflation measure and first-quarter GDP data. Today, new home sales data for March is anticipated, offering insights into the economy’s resilience and inflationary pressures. Analysts will scrutinize the data for potential implications on interest rate decisions amid recent Fed remarks signaling no rush for rate cuts.
Gold Prices Slide to Two-Week Low Amid Easing Middle East Tensions
Gold prices dipped to their lowest in over two weeks on Tuesday, with spot gold down nearly 1% at $2,304.99 per ounce and U.S. gold futures falling 1.2% to $2,318.80. Concerns of escalating tensions in the Middle East eased, prompting investors to book profits while awaiting key U.S. data for insights into the Federal Reserve’s rate trajectory. Analysts note receding safe-haven demand and potential for further profit-taking amid upcoming GDP and PCE data releases.
Oil Prices Inch Up as Investors Monitor Middle East Geopolitical Risks
Oil prices edged higher on Tuesday after a slight dip, with Brent crude trading at $87.18 a barrel and US West Texas Intermediate crude at $82.06 a barrel. The market remained vigilant about Middle East tensions, though signs of little near-term impact on oil supplies from the Israel-Iran conflict dampened concerns. Analysts note the evolving geopolitical landscape’s influence on prices, with potential for volatility pending US economic data releases and geopolitical developments.
