(Kitco News) - Gold (-0.52%) and silver (-1.32%) have sold off overnight ahead of the European open. The commodities complex rout does not stop there as copper (-1.68%) and spot WTI (-0.82%) have both fallen too.
Things were not much better in risk markets. The Nikkei 225 (-1.73%), ASX (-0.43%) and Shanghai Composite (-0.37%) all traded in negative territory. Futures in Europe are also indicating a negative open.
In FX markets, the dollar index pushed 0.15% in the black. The biggest mover overnight was AUD/USD which fell over 1% and broke a technical support. In the crypto space, BTC/USD is trading at $19,396 down nearly 3%.
News headlines:
ECB's Holzmann says he would have preferred to hike sooner, & 2% inflation some time away.
El Salvador's President says bought 80 bitcoin at $19,000 each.
U.K. government plans VAT (tax) cut to ease the pain of rising prices.
Japan June Manufacturing PMI 52.7 (prior 53.3).
China Manufacturing PMI for June: 51.7 (expected 50.1). Private survey Caixin / Markit PMI.
Japan May unemployment rate 2.6% (expected 2.5%).
Australia's manufacturing PMI (June) hit 56.2 (prior 55.7).
New Zealand June consumer confidence drops to 80.5 from 82.3 in May.
Looking ahead to the rest of the session highlights include EZ CPI, EZ/U.K./U.S. PMI's, and a speech from ECB's Panetta. Candian markets are closed.
