Bankers Being Bankers

Just one day left before the next update on inflation in the US. What will it show and what will be the aftermath? Well, we can deal with that tomorrow.

Today, however, is setting up as just another day where it appeared that the metals were ready to rally higher during the Asian session, only to be worked lower late in London and then on Comex. Is it as simple as "physical buying in Asia and paper selling in New York"? Yep, it is mostly that simple. While there are other factors in play, when you notice this day after day as we've seen recently, the pattern becomes quite clear...

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Key Economic Events Week of 1/30

1/31 8:30 ET Employment Costs
1/31 9:00 ET Case-Shiller Home Prices
1/31 10:00 ET Consumer Confidence
2/1 8:15 ET ADP jobs report
2/1 9:45 ET S&P Manu PMI
2/1 10:00 ET ISM Manu PMI
2/1 10:00 ET JOLTS
2/1 2:00 ET FOMC Fedlines
2/1 2:30 ET Chief Goon Powell
2/2 8:15 ET ECB rate decision
2/2 8:30 ET Productivity & Labor Costs
2/2 10:00 ET Factory Orders
2/3 8:30 ET BLSBS
2/3 9:45 ET S&P Services PMI
2/3 10:00 ET ISM Services PMI

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