Gold and silver trade marginally lower ahead of the European open
(Kitco News) - Gold (-0.20%) and silver (-0.11%) are both trading lower ahead of the European open. In the rest of the commodities markets, copper is just under flat while spot WTI has fallen 0.64%.
Risk sentiment was mixed overnight as the Shanghai Composite (0.31%) and ASX (0.13%) moved higher but the Nikkei 225 closed -0.88% lower. Futures in Europe are projecting a negative cash open.
FX markets were very quiet overnight the biggest mover was AUD/USD which fell 0.20%. In the crypto space, BTC/USD trades at $23,790.
News from overnight:
BoE's Ramsden does not rule out rate cuts in the next year.
China's military says it will continue drills around Taiwan today.
Taiwan began a live-fire artillery drill simulating defense against an attack by China, according to AFP.
China's state financial media says lower rates, RRR is unlikely.
The RBA has kicked off a one-year research program into digital currency.
The FBI has raided former US President Trump's home and executed a search warrant.
Chinese passenger vehicle sales were up 20.1% y/y in July.
Australian business confidence 7 (prior 1).
Australian Monthly consumer confidence -3% m/m (prior also -3%).
Looking ahead to the rest of the session data is very light but we do get the EIA STEO.