(Kitco News) - Gold (0.16%) and silver (0.06%) are both trading marginally higher ahead of the European open. Elsewhere in the commodities complex, copper (0.27%) has moved higher but spot WTI has pushed just under flat.
Risk sentiment in the Asia Pac area was generally positive overnight. The Nikkei 225 (0.22%) and ASX (0.23%) closed higher but the Shanghai Composite (-0.14%) fell slightly. Futures in Europe are indicating a positive cash open.
FX markets were subdued but the biggest mover was GBP/USD which rose 0.15%. In the crypto space, BTC/USD (-0.24%) is trading at $21,204.
News from overnight:
The EU has put forward a new draft text to revive the Iran nuclear deal.
Reports have been coming in that Wuhan (China) has locked down 1 million residents.
U.S. Treasury Secretary Yellen spoke with U.K. fin min Zahawi and the cap on Russia's oil price was discussed.
Crypto 'exchange' Kraken is under investigation by the U.S. Treasury Department.
The White House says no plans for strategic petroleum reserve releases beyond 6-month period.
Germany August GfK consumer sentiment -30.6 vs -28.9 expected.
China Industrial Profit data for June +3.9% y/y.
Australia: CPI 1.8% q/q (expected 1.8%) & Trimmed mean 1.5% q/q (expected 1.5%).
U.K. July BRC Shop Price (inflation) index 4.4% y/y (prior 3.1%).
Looking ahead to the rest of the session the main highlight is the Fed rate decision. The market will also be looking out for EZ M3, U.S. durable goods, and earnings continue.
