Consumer Price Index in Italy fell 0.4% month to month, this is another in a series of deflationary data.

Expect volatility in markets on Greece related headlines.

In yesterday’s morning capsule, we shared with you that oil would rally if DOE inventory data was not as huge as API  data.  This is exactly what happened.  Of course such moves are temporary.

In the yesterday’s morning capsule we also shared with you  that the reason behind gold’s move to $1224 was nonsensical, now gold has moved down.