(Kitco News) - Gold (0.49%) and silver (0.77%) are both trading higher leading into the European open. In the rest of the commodities complex, copper has moved 0.52% in the black while spot WTI has fallen 0.12%.
Risk sentiment was mixed overnight. The Nikkei 225 (-0.05%) and Shanghai Composite (-0.95%) struggled while the ASX rose 0.81%. Futures in Europe are looking positive.
In FX markets, the dollar index fell half a percent and the biggest mover was USD/JPY which fell 1.20%. In the crypto space, BTC/USD (1.22%) is trading at $24,133.
News from overnight:
President Biden: No doubt that we expect to see growth slower compared to last year.
Xi told Biden with regard to Taiwan, that China firmly opposes Taiwan's independence.
Xi and Biden also discussed having a face-to-face meeting.
ECB's Visco: So far we don't have to worry about the exchange rate.
U.S. Treasury Secretary Yellen: US economy remains resilient in the face of headwinds
Germany June import price index +1.0% vs +0.8% m/m expected.
France Q2 preliminary GDP +0.5% vs +0.2% q/q expected.
Japan July consumer confidence index 30.2 vs 32.1 prior.
Looking ahead to the rest of the session highlights include German GDP, employment, EZ GDP, CPI, U.S. PCE, Chicago PMI, and Canadian GDP.
