Speculative euro longs are at their highest point in more than a year. As for silver, the big week wasn't met with an increase in speculative longs. The data is from Tuesday, but the big spike in silver started at the end of the previous week. If there wasn't a large increase in bullish bets at of Tuesday, there likely aren't as of today. The short-term RSI indicator is showing silver near overbought levels, but not at an extreme, which comports with the COTS data.
Australian households are under the pump
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The Reserve Bank of Australia (RBA) kept the official cash rate on hold on
Tuesday primarily because the household sector, which is the main driver of
th...
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