Gold and silver are flat ahead of the European open
LONDON (Apr 6) Gold and silver trade flat leading into the European open. Gold is at $1920/oz while silver is trading at $24.33/oz. In the rest of the commodities complex, copper is 0.17% lower and spot WTI has move 1% into the black.
Risk markets struggled overnight as the Nikkei 225 (-1.58%), ASX (-0.50%) and Shanghai Composite (-0.14%) all fell. Futures in Europe are indicating a negative open.
In FX markets the major stayed in tight ranges. EUR/USD looks like it could be headed to the previous wave low on the daily chart and is currently 0.19% lower. In the crypto space, BTC/USD fell 0.18% to trade at $45,427.
News from overnight:
Fed's Daly sees slower growth but no recession ahead.
Fed's George Fed rate hike debate must include the balance sheet.
ECB's Wunsch says the central bank could move rates back to zero this year.
ECB’s Lane: ECB is ready to use a range of tools against fragmentation.
Shanghai says lockdown will continue until everyone is COVID-19 tested.
The U.S. announces more Russia sanctions Wednesday. Two of Russia's biggest banks & also Putin's daughters.
Reports the U.S. will send an additional $100m in Javelin anti-tank missiles to Ukraine.
U.S. Treasury Secretary Yellen to give a speech on cryptocurrency policy, and regulation (Thursday 7 April).
U.S. Treasury Secretary Yellen says wants to speed up aid to countries facing food price challenges.
White House Psaki says the U.S. is working with other countries to increase the oil supply.
Germany February factory orders -2.2% vs -0.2% m/m expected.
China Caixin services PMI for March 42.0 (prior 50.2).
New Zealand ANZ Commodity Price index for March +3.9% m/m (vs. prior +3.9%).
KITCO
