News Bites
Gold and silver are both marginally lower ahead of the European open
(Kitco News) - Gold (-0.34%) and Silver (-0.75%) are trading lower ahead of the European open. In the rest of the commodities complex, spot WTI is down 4.5% and copper dropped half a percent.
Risk sentiment overnight was negative as the Nikkei 225 (-0.73%), ASX (-0.20%), and Shanghai Composite (-0.44%). Futures markets in Europe are indicating a positive cash open.
In FX markets, the biggest mover was AUD/USD which fell 0.44% overnight. In the crypto space, BTC/USD is 0.22% higher trading at $47,184.
News from overnight:
Ukrainian official says peace talks will resume on April 1st.
U.S. President Biden considering a 180m barrel draw from the US oil reserve.
Russia is offering its oil to India at a US$35 discount from the pre-war price.
Japan chief cabinet secretary Matsuno says closely watching forex movements.
Russia's Lavrov says the western military in countries bordering Afghanistan is unacceptable.
Australia to hit Russian imports with a 35% tariff.
U.K. GCHQ spy chief on Russia's Ukraine war: Low troop morale, incompetence, insubordination.
U.K. Q4 final GDP +1.3% vs +1.0% q/q prelim.
U.K. March Nationwide house prices +1.1% vs +0.8% m/m expected.
Germany February retail sales +0.3% vs +0.5% m/m expected.
China March PMIs. Manufacturing 49.5 (expected 49.9) & Services 48.4 (expected 53.2).
Japan's February preliminary Industrial production +0.1% m/m, missing estimates.
Looking ahead to the rest of the session highlights include German employment, U.S. initial jobless claims, PCE data, OPEC+ meeting, comments from ECB's Lane, de Guindos and Fed's Williams.
