Silver

Inflation repricing: The previous 142.40 reading was the benchmark, so the move came from how the new release changed that trend. Inflation data changes how restrictive central banks may need to stay, so rates and currencies can move quickly. For metals, that moves real yields, dollar demand and hedge demand.

Producer-price pressure: The previous 5.5% reading was the benchmark, so the move came from how the new release changed that trend. Because PPI feeds company margins and future inflation expectations, it can move yields before CPI confirms the trend. For metals, that moves real yields, dollar demand and hedge demand.

Inflation repricing: The previous 0.3% reading was the benchmark, so the move came from how the new release changed that trend. Inflation data changes how restrictive central banks may need to stay, so rates and currencies can move quickly. For metals, that moves real yields, dollar demand and hedge demand.

Inflation repricing: The previous 336.12 reading was the benchmark, so the move came from how the new release changed that trend. Inflation data changes how restrictive central banks may need to stay, so rates and currencies can move quickly. For metals, that moves real yields, dollar demand and hedge demand.

Growth confirmation: The previous 0.7% reading was the benchmark, so the move came from how the new release changed that trend. GDP revisions can confirm or challenge the current macro regime priced into the asset. For metals, that moves real yields, dollar demand and hedge demand.

Growth momentum: The previous 0.2% reading was the benchmark, so the move came from how the new release changed that trend. Survey data gives an early read on activity, orders, prices and hiring before hard macro data arrives. For metals, that moves real yields, dollar demand and hedge demand.