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Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
The U.S. Treasuries traded tad lower Tuesday as investors wait to watch the country’s industrial production for the month of March, scheduled to be released today 13:15GMT. To add to that, the Federal Open Market Committee’s (FOMC) members Williams, Quarles, Harker, Evans and Bostic are scheduled to deliver their speeches, by later in the day, which will add further direction to the debt market.
The yield on the benchmark 10-year Treasuries rose 1/2 basis point to 2.83 percent, the super-long 30-year bond yields hovered around 3.03 percent and the yield on the short-term 2-year traded tad higher at 2.38 percent by 11:15GMT.
March IP and housing starts/building permits reports are due from the US today. Daiwa America’s Chief Economist Mike Moran expects the manufacturing and mining sectors to see payback after steep gains of 1.5 percent m/m and 3.5 percent m/m in February.
So, while cooler-than-normal temperatures probably led to increased utility output, overall Mike expects IP to post a decline of about 1/2 percent m/m. In contrast, expect a pickup in housing starts thanks to a rise in both single-family and multi-family categories, although some harsher winter weather poses a downside risk.
European equity markets opened higher on Tuesday, tracking gains in Wall Street overnight, amid less concern about the potential of retaliation from Russia to the US-led missile strikes in Syria. Market expectations for a hefty increase in Q1 earnings from S&P 500 companies and a rebound in US March retail sales, also favored risk sentiment.
Lastly, Wall Street’s positive performance overnight and the US President’s announcement that he intends to nominate Richard Clarida, a professor at Columbia University, as Vice Chairman of the Federal Reserve pushed US bond yields higher across the curve.
Meanwhile, the S&P 500 Futures rose 0.48 percent to 2,694.75 by 11:20GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -55.32 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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