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Gold and silver head into the EU session slightly lower

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(Kitco News) - After two good sessions gold is pausing for breath this morning. The yellow metal trades -0.22% lower while silver is down -0.18%. In the rest of the commodities complex, copper is 0.32% higher along with spot WTI which has risen 0.68%. 

Risk sentiment was once again good overnight. The Nikkei 225 (1.82%), ASX (0.69%) and Shanghai Composite (0.44%) all closed higher. The Taiex managed to climb 2.40% after some good news on the semi-conductor front. Futures in Europe are pointing towards a slightly positive open. 

In FX markets, USJ/JPY pushed 0.36% higher overnight and NZD/USD also had a good session rising 0.35% in the supportive risk environment. In the crypto space, Bitcoin also had a decent session rising 3.64% to push closer to the $60k psychological zone. 

Fed's Harker says there is an upside risk to his inflation forecast. Harker then added he is not expecting rate hikes until late 2022, or early 2023.

The U.K. government spokesperson says there is still a "substantial gap" between the U.K. and EU on the Northern Irelan protocol.

Japanese PM Kishida pledges to move Japan away from "Abenomics" according to reports.

China loosens mortgage rules and more lending is encouraged.

SEC said to not oppose Bitcoin futures ETF.

Japan finance minister Suzuki says weak yen helps exporters but pushes up import costs.

BOJ official says no current plan to issue digital currency, but maintaining the status quo on payments is not an option.

Japanese government cuts its outlook for exports. 

Queensland Investment Corporation (Australian fund) considers cryptocurrency investments.

BoC Gov Macklem says inflation in Canada is not broad-based, hence not so concerned.

U.S.' second-largest mortgage lender has dropped its plan to accept crypto

NZ Manufacturing PMI for September 51.4 (prior 40.1).

Looking ahead to the rest of the session highlights include NY Fed manufacturing, U.S. retail sales, University of Michigan data, and comments from Fed's Williams and Bullard.

 

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