Gold trades marginally higher ahead of the EU open
London (Jan 4) Gold and silver are mixed this morning. The yellow metal is 0.19% higher after a tough session on Monday. Silver has dropped -0.22% and trades under $23/oz. Elsewhere in the commodities complex, both copper (-0.77%) and spot WTI (-0.17%) are trading lower.
In the indices, the Nikkei 225 (1.77%) and ASX (1.95%) rose while the Shanghai Composite (-0.20%) underperformed. Futures in Europe are pointing towards a positive open.
In the FX space, USD/JPY was the biggest mover pushing 0.38% higher and in the crypto space, BTC/USD is 0.21% in the black.
News from overnight:
France's Le Maire: No risk whatsoever of economic paralysis from omicron.
Japan PM Kishida says will review border restrictions next week.
In the U.S., about 1,042,000 COVID-19 cases were reported, according to data from Johns Hopkins University.
Despite the numbers rising the number of severe cases and hospitalizations have not.
Indonesia has banned coal exports in January (the biggest customers includes China).
China Securities Journal says banks may boost Q1 lending.
Partial lockdown in Ningbo (China) is impacting operations a the world's largest port
China Caixin /Markit Manufacturing PMI for December 50.9 (expected 50.0, prior 49.9).
Australian Markit Manufacturing PMI for December 57.7 (vs. 59.2 in November).
Switzerland December CPI +1.5% vs +1.5% y/y prior
Germany November retail sales +0.6% vs -0.5% m/m expected.
Looking ahead to today's session highlights include German employment data, U.K. and U.S. manufacturing, U.S. Jolts, and the OPEC JMMC.
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