No news and no headlines makes for another summer doldrum-type day of AlgoHell domination of the Comex precious metals. It wouldn't be so bad if that meant the HFT algos were on the bid and driving prices higher but, as you know, that's rarely the case.
You can see it on the charts and it's actually even more stupid than you think. Let's start with the USDJPY which is weakening again after last week's multiple yenterventions by the BoJ. Here's an hourly chart of the past ten days:...
