Gold and silver are trading higher leading into the European open
(Kitco News) - Gold and silver are trading higher leading into the European open. The yellow metal has moved above $1900/oz again to trade 0.13% in the black while silver has moved 0.73% higher to trade at $28.18/oz. In the rest of the commodities complex, both copper (0.76%) and WTI (0.13%) trade higher.
Bourses in the Asia Pac area traded mixed overnight. The Nikkei 225 (-0.03%) and Shanghai Composite (-0.46%) closed lower while the ASX managed to gain 0.13%. Index futures are looking marginally positive leading into the open.
The FX markets are still looking very tight at the moment. The biggest mover overnight was EUR/USD which only moved 0.10%. In the crypto space, volatility was also low as BTC/USD moved just 0.25% higher.
Looking at some of the headlines from overnight, U.K. newspaper The Times says UK Prime Minister Johnson is considering a 4-week delay to re-opening.
ECB sources said that some ECB members wanted to cut PEPP purchases and some differed on bond-buying needs in thin summer markets.
A bipartisan group of US senators say they have reached an agreement on infrastructure.
SNB, BDF, UBS, Credit Suisse, Natixis hooking up to trial cross-border central bank digital currency payments.
Germany May wholesale price index +1.7% vs +1.1% m/m prior
UK April monthly GDP +2.3% vs +2.4% m/m expected.
Bank of Korea's Lee said the central bank will normalize policy of the recovery is certain and that will become more clear in H2.
Looking ahead to the rest of the session highlights include U.K. manufacturing data, Russian rate decision, Michigan data, Baker Hughes Rig count and comments from BoE's Bailey, U.K. Chancellor Rishi Sunak, and comments from the G7 meeting.