Gold and silver jumps higher ahead of the European open

LONDON (Sept 9)  Gold (0.77%) and Silver (1.52%) have moved higher heading into the European open. In the rest of the commodities complex, copper (1.45%) and spot WTI (1.08%) are trading higher. 

Indices in the Asia Pac area performed well overnight as the Nikkei (0.53%), ASX (0.66%), and Shanghai Composite (0.91%) all closed in positive territory. Futures in Europe are pointing towards a positive open.

In FX markets, the biggest mover overnight was AUD/USD which rose 1.31%. In the crypto space, BTC/USD pushed 6.90% higher. 

News from overnight:

Unconfirmed source reports suggest that the ECB could hike by 75 bps again in October. 

ECB's Villeroy: Inflation should be back to around 2% by 2024.

BoJ Gov Kuroda said he spoke with PM Kishida on FX matters.

Japan's finance minister Suzuki says is not ruling out any options on FX.

RBA Gov Lowe provided a clear hint that the pace of rate hikes could be about to slow.

U.K. retailers report the slowest growth in sales since the end of COVID-19 lockdowns.

Biden weighing an executive order to screen and possibly restrict US investment in China.

BoC Rogers says getting inflation back to 2% "will take some time”.

Australia's skilled job advertisements +2.6%, close to a 14-year high.

China August CPI 2.5% y/y (expected 2.8%).

Looking ahead to the rest of the session highlights include Canadian jobs, EU energy meeting, comments from ECB's Lagarde, Fed's Evans, Waller and George. 

KITCO