Gold and silver move higher heading into the European open

LONDON (Sept 8)  Gold (0.08%) and silver (0.76%) have moved higher overnight. In the rest of the commodities complex, copper (0.76%) and spot WTI (0.87%) have also both moved into the black. 

Risk sentiment was good overnight as the Nikkei 225 (2.30%) and ASX (1.77%) both moved higher but the Shanghai Composite fell 0.18%. Futures markets are initiating a positive cash open in Europe. 

In FX markets, the biggest mover overnight was AUD//USD which fell around 0.20%. Other than that there was not too much movement. In the crypto space, BTC/USD trades at $19,340. 

News from overnight:

RBA Gov. Lowe says more rate hikes are coming, but no preset path.

RBA Gov. Lowe: Demand has to grow more slowly to bring back in line with supply.

Switzerland August unemployment rate 2.0% vs 2.0% expected.

Japan August economy watchers survey current conditions 45.5 vs 43.8 prior.

Australian trade Exports -10% m/m (prior +5.1%) & imports +5% m/m (+0.7%).

Japan final Q2 GDP +3.5% q/q (annualized) (expected 2.9%).

New Zealand volume of total manufacturing sales -4.9% q/q (prior -3.4%).

Looking ahead to the rest of the session highlights include the ECB announcement, U.S. initial jobless claims, comments from ECB's Lagarde, BoC's Rogers, Fed's Kashkari, Evans and Powell. 

KITCO