Precious metals are once again trading firmer leading into the EU session
(Kitco News) - Precious metals are once again higher overnight as the market is once again full of hope over the US fiscal stimulus deal. According to US house speaker Pelosi's team, the two sides are closer to a deal and will speak again during the US session. Having said that, US senate leader McConnel commented that the White House will not make a big stimulus deal before the election. The gold (0.60%) price is currently $1919 per ounce, while silver is trading above $25 1.63% higher.
There was also some good news on the coronavirus vaccine front. AstraZeneca is said to be resuming their US trial as early as this week, according to sources. There has been many setbacks recently with the likes of Eli Lilly and J&J having to postpone tests dues to various complications.
Overnight following a positive handover from the US the Nikkei 225 (0.31%), Hang Seng (0.77%) and the ASX (0.12%) performed relatively well. Sentiment leading into Europe is also looking good as futures on the main bourses are trading higher.
In FX markets the dollar is trading lower as the risk-on sentiment kicks in. It is by far the underperform especially against EM currencies and in the majors GBP/USD trades 0.58% in the black.
Highlights today are the UK and Canadian inflation data. We also hear from ECB's Lagarde, Lane, de Guindos, BoE's Ramsden, Fed's Mester and Brainard. On the earnings front, Akzo Nobel, Abbott, Tesla, Centamin Plc and Hochschild Mining are the highlights.