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Gold has moved higher leading into the European open

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(Kitco News) - Gold has pushed 0.41% higher to trade at $1791/oz ahead of the European open. Silver is currently flat at $22.88/oz. In the rest of the commodities complex, copper (-0.69%) and spot WTI (-3.37%) are both trading lower. 

Risk sentiment was mixed in the Asia Pac session as the ASX (0.22%) and Shanghai Composite (0.03%) pushed higher but the Nikkei fell -1.63%. Futures in Europe are pointing towards a negative cash open. 

In FX markets, the dollar index fell -0.19% overnight and the biggest mover was USD/CAD which rose 0.47%. BTC/USD struggled overnight falling -2.23%. 

Fed Chair Powell says factors pushing inflation higher will linger into 2022.

U.S. Treasury Secretary Yellen says failure to extend the debt limit will eviscerate the economic recovery.

ECB's de Guindos: Confident that bond-buying will continue throughout 2022

Japan confirms the first case of the omicron variant.

Moderna CEO: There will be a material drop in vaccine effectiveness against omicron.

Japan finance minister Suzuki says he did not discuss FX rates with U.S. Treasury Secretary Yellen.

Australian Private Sector Credit for October 0.5% m/m, (expected 0.6%).

Australian October Building Permits -12.9% m/m (expected -2%).

Australian Q3 Net exports as a of GDP +1% (vs. 1.0%, prior -1.0%).

New Zealand business survey: Confidence -16.4 (prior -13.4) & Activity Outlook 15.0 (prior 21.1).

Japanese Industrial Production for October (preliminary) 1.1% m/m (expected 1.8%).

Japanese Jobless (Unemployment) rate for October 2.7% (expected 2.8%).

Australian weekly consumer confidence dropped to 106.0 (from prior 107.4).

Looking ahead to the rest of the session highlights include German employment data, EZ flash CPI, Canadian GDP, U.S. consumer confidence, comments from Fed's Williams, Clarida, and Powell.


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