Loading ...Powell does have to sound hawkish as he is trying to kill demand. I don’t think he wants to raise, I think he believes he HAS to. He needs some soft data to bail them out. The recent jobs data has been off the charts good, but the last report was questionable, and may be revised lower.
He needs a weak report on Friday. I’m afraid pm’s need one too.
Lastly, it seems we are so far away from any event that could push pm’s higher. We’ve been waiting for the final financial crash that has been averted since 2009. PM’s have been trashed in every major market pullback or event. What will change that? Is it really as simple as gold acts inverse rates and the dollar, and it has no other redeeming value? If not, then paper works just as well.