(Kitco News) - Gold (-0.44%) and silver (-1.70%) are both struggling ahead of the European open. In the rest of the commodities complex, spot WTI has fallen 4.60% and copper is 2.56% in the red.
After the positive close on Wall Street, indices in the Asia Pac area failed to capitalize. The Nikkei 225 (-0.37%), ASX (-0.23%) and Shanghai Composite (-1.77%) all struggled. Futures in Europe are indicating a negative open.
In FX markets, the biggest mover is NZD/USD which fell 1.16% overnight. The dollar index is 0.23% in the black. In the crypto space, BTC/USD is back near $20k.
News from overnight:
Fed's Barkin says a 75bp rate hike seems sensible.
BoJ April minutes confirm the Bank will ease further if necessary, without hesitation.
Switzerland imported Russian gold in May for the first time since the Ukraine invasion.
The White House is relying on 'wiggle room' to stop the economy from recession.
White House economist says optimistic a recession can be avoided.
U.K. May CPI +9.1% vs +9.1% y/y expected.
New Zealand data - May trade balance +263mn NZD (prior 440mn).
Looking ahead to the rest of the session highlights include Canadian inflation, EZ consumer confidence, and comments from Fed's Powell, Barkin, Evans, Harker, ECB's de Guindos, Elderson, and BoC's Rogers.
