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(Kitco News) – Gold (0.41%) and Silver (1.06%) are up overnight, leading into the European open. In the rest of the commodity complex, copper is trading flat and spot WTI (2.14%) is trading in positive territory.
Stock markets were lackluster overnight. Nikkei 225 (-0.04%), ASX (-0.25%) and Shanghai Composite (0.06%). Futures markets in Europe point to positive cash opening.
In the FX markets, the biggest move overnight was EUR/USD, which rose 0.31% higher. In the crypto space, BTC/USD is down -0.14% near the psychological $20,000 level.
News from overnight:
Japan Finance Minister Suzuki says he will take action on FX if necessary.
The Fed’s Bostic says the bank needs to slow down the economy.
Argentina’s Vice President Cristina Fernandez de Kirchner has been assassinated.
China’s SAFE (FX Regulator) says cross-border capital flows are generally stable.
According to the PBoC, balanced consumer prices are favorable for monetary policy adjustments.
The South Korean central bank forecasts inflation of 5 to 6% for some time.
Germany’s trade balance in July is 5.4 billion euros versus 4.8 billion euros expected.
NZ Q2 Terms of Trade Index -2.4% q/q (expected -1.3%).
China’s Chengdu and its 21 million people are in lockdown.
Looking to the rest of the session highlights are EZ producer prices, US factory orders and non-farm payrolls.
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