Gold is marginally lower heading into the European open
(Kitco News) - Gold (-0.44%) and silver (-0.32%) are both heading into the European open lower on Friday. In the rest of the commodities complex, copper is 0.15% higher and spot WTI is nearly 2% in the black.
In the risk markets, the Nikkei 225 (0.65%), ASX (0.60%), and Shanghai Composite (1.12%) all closed higher. Futures heading into Europe are also indicating a positive cash open.
In FX, the biggest mover overnight was USD/JPY which rose 0.32% and the dollar index is marginally higher. In the crypto space, BTC/USD is 0.34% lower.
News from overnight:
BoJ keeps rates and monetary policy unchanged, as expected.
U.S. President Biden and China's President Xi will speak on Friday 18 March 2022, 9 am U.S. ET.
U.S. media report Putin has placed some of his intelligence officials under house arrest.
U.K. Defence ministry update on Russia's war on Ukraine, highlight Russian logistic problems.
Australia says it has now covered the majority of Russia's banking assets with sanctions.
Japan inflation for February, headline overall CPI +0.9% y/y (vs. expected 0.3%).
Russian media report that Zelensky and Putin 'could' meet, in 'coming weeks'.
Looking ahead to the rest of the session highlights include U.S. existing home sales, comments from Fed's Barkin, Bowen, and Evans, and the call between Biden and Xi.