(Kitco News) – Gold (0.16%) and silver (-0.12%) are heading into the EU session mixed. This comes after another solid day of trading on Wednesday. The yellow metal trades at $1784/oz while silver has moved to $24.24/oz. In the rest of the commodities complex, copper has fallen 1.55% and spot WTI has dropped half a percent.
In terms of risk sentiment, markets were mixed overnight. The Nikkei 225 (-1.87%) and Shanghai Composite (-0.01%) closed lower but the ASX bucked the trend to close just above flat. Futures in Europe are pointing towards a negative cash open.
In FX markets, the biggest mover overnight was USD/JPY which dropped -0.31%. AUD/USD also fell -0.22% which indicates the FX moves were largely risk-off related. In the crypto space, Bitcoin broke out of the $64,899 resistance but trades -2.18% lower this morning.
Major stories from overnight:
Fed’s Mester says interest rate hikes are not coming any time soon.
Evergrande shares fell around 14% after the deal to sell the property management arm fell through.
The BoJ says Japan’s financial system is likely to remain highly robust even after the resurgence of COVID-19.
There are some potential French sanctions on the UK, energy & trade by the end of the week.
The U.K. has reached an in-principle free trade agreement with New Zealand.
Pimco to gradually invest and trade more in cryptocurrencies.
Looking ahead to the rest of the session highlights include the Russian rate decision, U.S. initial jobless claims, Philly Fed business index, existing home sales, EZ consumer confidence, the EU council meeting, and comments from Fed’s Daly, Waller, and RBA’s Lowe.
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