The stage had been set for a follow-up price slam today with the trigger being the latest PPI data. But a funny thing happened on the way to the slam. The PPI came in softer than expected! But don't exhale just yet. Tomorrow brings the latest CPI data and, if it comes in hotter than expected, we're likely to see that the slam was simply postponed by 24 hours.
We discuss all of this today and look ahead, not only to tomorrow but this week's CoT on Friday after yesterday's surprising open interest changes in Comex gold.
From there, these images:
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