It’s a quiet day ahead on the economic calendar. Stats from the Eurozone and the Bank of Canada’s Business Survey will draw some interest later in the day, however.
Inventories decline year over year
The dollar moved higher in tandem with U.S. Treasury yields following a stronger than expected U.S. Inflation report. More substantial inflation will eventually force the Federal Reserve to change their tune on interest rates but current levels are unlikely to force their hand. Gold prices moved lower after failing to recapture resistance seen near the 50-day moving average at 1,761.