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Markets expressed mild relief toward a pair of US inflation and consumer spending prints that change nothing yet for the FOMC. The result had markets gently piling into the US front-end, driving a weaker dollar, and putting a bid to US equities. That’s a sensible market reaction in a positioning sense that has been programmed to be surprised by higher core ...
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Precious metals were looking strong even before the release of US CPI data, with gold holding in a bullish consolidation pattern following last week’s 2.5% gains and silver was already on the ascendency over the past couple of days. Both metals rallied once the CPI report was released, and after some profit-taking, recovered again to rise to fresh session ...