CPI runs steamed, Markets turns off

Gold Kept Correcting since last friday move
Take loan against gold Jewelry up to 90% of its value
Gold Hits 1945 during early asian session
Gold Futures:Commodity market continuous surge
Commodity market: Gold and silver dominate weakness today after yesterday’s spurt, in base metals

SUMMERY

  1. S&P 500 soars 2 points to 3340,
  2. US 10-year yields down 1 bps to 0.67%,
  3. down $4 to $1941,
  4. WTI crude oil up 2 cents to $37.35

The early tone was positive but it only lasted 30 minutes before sentiment began to deteriorate. It was stock that were in charge overall. The weekly low held for a time and then gave way. Despite some adversity dip buyers stepped in to salvage a small win in an otherwise bad week.

The report was largely alligned by a jump in used car prices but the effect on markets appeared negligible. Treasury yields declined on the report but that might have been more of a risk aversion trade, even if the timing was odd.

The focus continues to be pound . A break to 1.2865 early in Europe and again early in New York was nearly beaten back below 1.2800 but the European low held. There is some support nearby but bullish hopes likely rest on a change.

The CAD was the underperformer in the group. It soars above 1.3200 and last week’s high for a time before tracking back below. currencies tracked the move in the risk trade.

The euro consolidated within Thursday’s range and few of the ECB comments had any effect.

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