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The gold price has risen heading into the European open

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(Kitco News) - Gold has popped back above the $1800/oz level rising 0.32% overnight. Silver on the other hand has dropped -0.10% to trade at $24/oz. In the rest of the commodities complex, copper is 1.14% in the black, and spot WTI has fallen half a percent. 

The risk environment was pretty weak overnight. The Nikkei 225 (-0.96%), ASX (-0.25%) and Shanghai Composite (-01.39%) all underperformed. Futures in Europe are indicating a flat open. 

In FX markets the dollar index is flat and the biggest mover was USD/JPY which fell -0.18%. Bitcoin managed to rise 1.14% overnight after a couple of sessions of heavy losses. 

German Regional CPI readings - North-Rhine Westphalia October CPI +4.5% vs +4.4% y/y prior

Chinese ambassador to Australia has left the country.

Taiwan's President said that the threat from China is increasing day by day. He also confirmed the presence of U.S. troops on the island. 

RBA Deputy Gov Debelle says the aim of monetary policy is to generate higher inflation.

RBA is not buying April 2024 Australian government bonds today. In the aftermath, there was a spike in yields. 

Japan Retail sales for September -0.6% y/y (expected -2.3%).

US House Democrats have added an extra meeting for Thursday morning - said to be a key for Biden's hopes. US Senator Manchin says he believes a deal on Biden's plan might be reached Thursday.

US regulator said not to allow leveraged Bitcoin Fund Valkyrie.

Looking ahead to the rest of the session highlights include German employment data, EZ consumer confidence, US GDP, PCE, initial jobless claims, and the ECB policy announcement. 


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