* Lira has lost nearly quarter of its value this year. * Erdogan weekend call to expel envoys sent lira to record low. By Daren Butler. Turkey's lira performed a volte face and bonds bounced back from multi-month lows after President Tayyip Erdogan welcomed statements on Monday from several Western embassies, paving the way for the de-escalation of a diplomatic row.
U.S. Treasury yields fell on
Monday in choppy trading, weighed down by market uncertainty
about when the Federal Reserve would tighten monetary policy in
the face of persistently high inflation.
The Canadian dollar barely moved
against its U.S. counterpart on Monday as data showed that
speculators have cut bearish bets on the currency to the lowest
in five weeks and ahead of a Bank of Canada ...
* Investors await BoJ, ECB policy meetings due this week. * Palladium, platinum rise more than 1% each. By Amy Caren Daniel. Gold prices rose about 1% on Monday, as a retreat in U.S. bond yields and persisting worries about inflation lifted the safe-haven asset ahead of major central bank meetings this week. Spot gold was up 0.9% at $1,807.66 per ounce by 11:39 a.m. ET.
The Czech crown hit a near
three-month low on Monday amid worries over weaker economic
growth, while the Hungarian forint tested a seven-month low,
continuing to cool after the central bank slowed ...
* Gold profits from higher inflation expectations - Commerzbank. * Investors await BoJ, ECB policy meetings due this week. By Arundhati Sarkar. Gold prices reclaimed the $1,800 mark on Monday, supported by persisting worries over inflation, as investors looked ahead to the next Federal Reserve meeting for its outlook on monetary policy. Spot gold rose 0.5% to $1,801.22 per ounce by 1203 GMT.
* Markets await big earnings week. * UniCredit falls as MPS sale talks collapse. * Telecom sector down as Bofa bearish on Nokia, Ericsson. By Anisha Sircar and Ambar Warrick. European stocks closed flat on Monday, as gains in banks and commodity-linked sectors were offset by losses in industrial stocks on rising bond yields, and as the outlook for the telecom sector deteriorated.
* Gold could test resistance at $1,814 - technicals. * Investors await BoJ, ECB policy meetings due on Thursday. By Nakul Iyer. Gold prices hovered close to the key $1,800 level on Monday, supported by a weaker dollar as investors assessed the Federal Reserve's likely response to inflationary pressure after its chair said inflation could last longer than expected.
Euro zone bond yields dipped on Monday, helped by a Friday fall in U.S. Treasury yields following comments from U.S. Federal Reserve chairman Jerome Powell, while Italian bonds outperformed following an unexpected credit rating outlook upgrade.
European shares tiptoed higher on Monday, led by miners and energy stocks as commodity prices strengthened, while investors awaited a flurry of earnings reports with several behemoths set to publish results this week. The pan-European STOXX 600 inched 0.02% higher by 0707 GMT, after Asian peers eked out slim gains.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
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