Gold and silver move higher ahead of the European open

London (Feb 10)  Gold (0.18%) and (0.30%) are both trading higher leading into the European open. In the rest of the commodities complex, copper (0.10%) has moved higher but spot WTI (-0.45%) has bucked the trend to move into the red. 

In the risk markets, the Nikkei 225 (0.42%), ASX (0.28%), and Shanghai Composite (0.17%) all traded well overnight. Futures in Europe are pointing towards a positive open. 

In FX, it was once again a very quiet session. NZD and AUD marginally increased on yesterday's gains but the movement was very thin. In the cypto space, BTC/USD is trading 1 percent lower at $43,993.

News from overnight:

White House Economic Adviser Deese says he sees reason to think that the factors driving inflation higher will moderate over time.

U.S. Democrat Senators have called for a suspension of gasoline tax.

BoJ's Kuroda said there is no chance to debate exiting easy policy during my remaining term in office. He added that the chances of a large jump in inflation are low.

Ford has shut down an engine plant due to a protestor blockade of Detroit Bridge.

Toyota expects to halt auto production at 3 plants in Ontario - citing protests, other.

There have been reports that ECB officials are said to distrust inflation forecasts. 

U.K. jobs index 68.6 in January (prior 69.3) The report noted that the "jobs market is still growing strongly".

Australia survey of consumer inflation expectations 4.6% (prior 4.4%).

Japan January PPI +0.6% m/m (expected +0.4%).

Looking ahead to the rest of the session highlights include U.S. CPI, initial jobless claims, Banxico and Riksbank rate decisions, comments from BoE's Bailey, ECB's Lane, Elderson, de Guindos, and Fed's Barkin. Earnings also continue.

KitcoNews