Gold and silver are flat leading into the European open
LONDON (Sept 14) After Tuesday's dramatic drop gold and silver are flat leading into the European open. In the rest of the commodities complex, copper (0.13%) is trading higher but spot WTI has fallen 0.64%.
Indices in the Asia Pac area fell after the rout on Wall St. The Nikkei 225 (-2.74%), ASX (-2.58) and the Shanghai Composite (-0.71%) all moved lower. Futures in Europe are projecting a bearish cash open too.
FX markets were mixed overnight. USD/JPY was the biggest mover falling 0.64% after central bank intervention. In the crypto space, BTC/USD trades at $20,315.
News from overnight:
BoJ reportedly conducted rate check in apparent preparation for currency intervention.
Japan's Matsuno says sharp FX fluctuations are not desirable.
South Korea's vice fin min says closely monitoring financial and forex markets.
Some US railroads will start halting certain shipments on Thursday 15 September 2022 due to strikes.
Nomura now forecasting a 1% FOMC interest rate hike (100bp) following yesterday's CPI print.
U.K. August CPI +9.9% vs +10.2% y/y expected.
Japan July core machinery orders +5.3% (smashing expectations, which were -0.8%).
Looking ahead to the rest of the session highlights include U.S. PPI, NZ GDP, and comments from ECB's Lane and European Comission state of union.
KITCO
