While the dollar has not shown fresh direction following its aggressive recovery bounce yesterday, the upward bias from the charts and a measure of newfound respect for lingering inflation reduces the prospect of US easing in June.
However, gold and silver should be cushioned by continued chatter about a European rate cut in June.
In today's action, the markets could simply "mark time" as the other shoe to drop (Thursday's PPI) could easily rekindle another upward pulse in the dollar and downward pulse action in gold and silver...[MORE]
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