Gold and copper were looking good until late Friday, bouncing strongly following recent weakness, the former talking out key levels in the process. Then along came the latest US Composite PMI from S&P Global which suggested the vast bulk of information we’ve received recently is providing an inaccurate picture on the health of the US economy. While rates markets largely ignored the reported strength in report, FX markets did the opposite, sending the US dollar index surging to the highest level since early May. That flowed through to commodity markets, delivering a key outside day for gold and bearish engulfing ... (full story)