14 September 2023 – 09:15 Central Euro Time

The precious metals continue to weaken, albeit their relatively fresh weekly parabolic trends remain Long: Silver at present is below today’s Neutral Zone; Copper is above same, and volatility is moderate-to-robust, Silver having already traced 104% of its EDTR (see Market Ranges). Much is being made ado about the increase in August’s CPI, albeit the headline number (+0.6%) matched the consensus expectation, and moreover as we pointed out a month ago, July’s PPI (which tends to lead the CPI a month out) already had popped. August’s PPI is due today for the Econ Baro, along with other metrics including the month’s Retail Sales and July’s Business inventories. The FOMC’s next Policy Statement is Wednesday (20 September).