Market Pulse
GC
bullish 33% (3 votes)bearish 33%
ES
bullish 0% (2 votes)bearish 50%
ZN
bullish 0% (2 votes)bearish 50%
Discussion
The Philly Fed print is hitting a market already pricing a hawkish ECB lean from the minutes, so the immediate repricing is flowing through the front end and the dollar rather than equities. If new or…
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A soft Philly Fed headline paired with contracting new orders would give the 2Y a reason to rally, especially with copper already confirming demand deterioration across both COMEX and LME. CPI still r…
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This reads slightly hawkish at the margin for global pricing, which should lean DXY firmer, keep Treasury yields biased up from the front end, and leave gold struggling to extend unless geopolitical r…