Continuing Copper

As you know, we are watching copper very closely in 2023. By itself, it presents a very interesting case for price due to its supply/demand fundos. More important to us is what a breakout in copper would signal for the Comex precious metals, too.

This far, it's a relatively quiet option expiration Tuesday. Fed Vice Goon Mikey Barr is about to begin "testimony" on SVB and other banks in front of the US Senate Banking Committee and who knows how that will go. As the day begins, though, rates are slightly higher again with the POSX down about 30¢. This is enough to spark a little...

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Key Economic Events Week of 7/22

7/23 10:00 ET Existing Home Sales
7/24 9:45 ET S&P July flash PMIs
7/24 10:00 ET New Home Sales
7/25 8:30 ET Q2 GDP first guess
7/25 8:30 ET Durable Goods
7/25 1:30 ET Comex option expiry
7/26 8:30 ET PCE and Core PCE
7/26 8:30 ET Personal Inc and Spend

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