Seasonal Weakness

For the past two weeks, we've been warning that the back third of this month would likely bring some "seasonal weakness" to the Comex metals. So, there's that. And then there's what we're seeing in Comex Digital Silver today.

Oh my goodness. What a way to start the week. A reminder, over the next ten days, we must deal with:

  1. Feb23 option expiration
  2. Feb23 CDG contract off the board
  3. Chinese markets closed all week
  4. January FOMC next week

So what is the problem today? Likely some combination of #1 and #3. And what do we...

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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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by argentus maximus, Jan 31, 2023 - 1:14pm
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