(Kitco News) - Gold (-0.29%) has had a couple of very tough sessions and trades at $1659.60/oz ahead of the European open. Silver (-1.17%) is also trading lower at $18.94/oz. In the rest of the commodities complex, copper (-0.23%) and spot WTI (0.37%) are mixed.
Risk sentiment in the Asia Pac area was poor as the Nikkei (-1.11%), ASX (-1.14%), and Shanghai Composite (-2.16%) all fell heavily. Futures in Europe are indicating a poor cash open.
In FX markets, the biggest mover overnight was GBP/USD which fell 0.38%. In the crypto space, BTC/USD trades at $19,764.
News from overnight:
ECB's de Guindos: Eurozone slowdown not enough to control inflation.
South Korea Finance Minister Official: Preparing Measures To Stabilize Forex Market.
Japan Fin Min Suzuki says concerned about one-sided yen weakening.
RBA Gov Lowe says cash rate should at least average 2.5% over time.
RBA Gov. Lowe says inflation is too high.
Bank of England finds consumer inflation expectations have risen to their highest ever.
China August retail sales +5.4% y/y (expected +3.5%), Industrial production +4.2% (3.8%).
U.K. Retail Sales U.K. Retail Sales MoM (Aug) Act: -1.6% Prev: 0.3% Fcst: -0.5%.
China August new home prices -0.29% m/m and -1.3% y/y.
South Korea August unemployment rate, lowest ever recorded.
Looking ahead to the rest of the session highlights include EU CPI, U.S. University of Michigan data, Quadruple witching, comments from ECB's Lagarde and Villeroy.
