Risk aversion underpins XAU/USD price as banking crisis reaches Europe with Credit Suisse in target.
That said, the US 10-year Treasury bond yields dropped the most in four months before bouncing off a four-month low to 3.46% at the latest. On the same line, the US two-year bond coupons refreshed a six-month low before ending the volatile Wednesday near 3.89%. US Retail Sales dropped to -0.4% in February versus -0.3% expected and upwardly revised 3.2% prior while the slide to 4.6% YoY from 5.7% in January and 5.6% market forecasts. Further, NY Empire State Manufacturing Index dropped to -24.6 for March compared to analysts’ estimations of -8.0 and -5.8 prior.
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