If you didn't know it is summer, NASDAQ is up 0.2% on the week--the smallest +(-) weekly change of the year. S&P500 posts its smaller weekly change in over 3 1/2 months. Something will have to change to get US stimulus discussions moving and that might be a shudder in financial markets. USD is on the backfoot but metals remain weak. Watch the latest Virus developments below. US retail sales beat expectations in July but at a slower pace than June, while GBP is the strongest perfomer of the day, while silver is the biggest loser, highlighting once again that inverse GBP/XAG relation between the two that Ashraf has often tweeted about. Below is the chart of mainly consistent upside econ surprises, while oil remains hesistant in the short-term, but could be set for a break-out in autumn. Ashraf returns from holiday next week and he will update subscribers on last week's XAU-XAG call, days prior to their sharp pullback.

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