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22/05/15
18:47
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Originally posted by MilliBuster
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Tonight we have Williams of San Fran Cisco giving a speech or at least the speech being reported. We also have the monthly cpi data. The yoy data is current so not a big night but Yellen gives a speech at 8am Sat morning.
My prediction... the monthly inflation data will tank and the cpi will deflate further, bleeding ever so slightly into gdp growth due to increased competition from Europe and China and a general lack of demand and dampening any hawkish rhetoric. Dollar will weaken... gold will hit 2015 but then Yellen's words will set the tone for monday. Yellen will be hawkish. So a slow start Monday giving back tonights gains.
It will be interesting to see the inflation data because this is the new quarter and oil has rebounded and snow has thawed. The employment numbers appear positive but lets see if stagnant wage growth doesnt counteract demand for cpi goods and services. Housing is at a 7.5 year high but retail is sufferring. Cpi measures 11 areas in goods and services. They include alcohol and tobacco, food and beverages, clothes and shoes, housing, household goods, transport, education, communications, healthcare, financial products and I forgot the last one.
Another friday night thriller hehe.
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Righto, popcorn is on and sitting as close to the edge of my seat as I can get without falling off. I thought last nights figures were dog shite and market ignores them. There are really no figures that cooberate the housing data really. That inventory build up that held up the GDP figures must be greeting bought by the fed and stored in underground bunkers I think. $1225 at comex close is my call.