COT update: Metals bought, US dollar sold ahead of US inflation surprise

From home.saxo

In FX, several poorly timed trades defined the week through last Tuesday, when the USD initially weakened further before rebounding sharply to a five-week high. The reversal followed inflation reports showing sharp increases in both consumer and producer prices, with April readings rising at the fastest pace in several years. This helped trigger the worst weekly bond market selloff in a year, as the war-driven price shock raised concerns that central banks, including the Fed, may ultimately be forced to raise interest rates to contain inflationary pressures. In addition, the dollar’s post-reporting-week rally ... (full story)