Gold and silver trade marginally lower ahead of the EU open

London (Dec 22)  Gold and silver both trade just under flat leading into the European open. In the rest of the commodities complex, copper is 0.10% higher and spot WTI is also flat.

Risk sentiment was mixed overnight as the Nikkei 225 (0.16%) and ASX (0.13%) pushed higher but the Shanghai Composite fell -0.07%. Futures in Europe are also pointing towards a mixed open with the FTSE looking positive while the DAX futures contract is -0.27% in the red. 

In FX markets, AUD and NZD suffered against the greenback and the dollar index traded 0.10% higher. In the crypto space, BTC/USD is attacking $50K again as it trades 0.64% higher.

China state planner outlines ten measures the country will take to support its economy. These include: Stepping up government spending and
strengthening support to manufacturers and small companies.

China announces sanctions on four US government officials.

U.K. government scientists conclude Omicron is milder than Delta.

U.K. PM Johnson does not think there is enough evidence to justify any tougher restrictions before Christmas. 

ECB's Schnabel said we already know inflation will be high for a while, but that it will fall.

Oxford / AstraZeneca to produce an updated vaccine to target Omicron.

Reuters reports on study finding Omicron infections appear no less severe than Delta.

Australian Westpac leading indicator for November +0.1% m/m.

U.K. GDP YoY: 6.8% (Forecast 6.6%, Previous 6.6%).

New Zealand data -December consumer confidence 98.3 (from November's 96.6).

Looking ahead to the rest of the session highlights include U.S. GDP, consumer confidence, and existing home sales. 

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