x
Gold (0.19%) and silver (0.46%) have pushed higher ahead of the European open. Gold continues to trade around $1800/oz, while silver hovers at $22.50/oz. In the rest of the commodities complex, spot WTI is 0.60% higher and copper is trading flat.
In equities markets, Amazon and Snapchat performed well in the aftermarket sending risk sentiment positive. The Nikkei 225 closed 0.73% in the black and the ASX pushed 0.60% higher. Futures in Europe are also positive.
In FX markets, AUD/USD was the biggest mover losing 0.24% of its value. EUR/USD traded 0.17% following the ECB meeting on Thursday where the pair also climbed 1.19%. In the crypto space, BTC/USD rose 1.62% overnight
News from overnight:
Biden to boost project labor agreements for federal construction projects.
In the U.K., pressure is mounting on PM Johnson as four of his top aides quit the party.
It was reported overnight that the U.S. has intel on a Russian plan to fake a pretext for an invasion of Ukraine using a fake video that would build on recent disinformation.
BoJ Gov Kuroda says Japanese consumer inflation is weaker than that in the US and Europe.
The Japanese government is looking at diverting some supplies of gas to Europe.
Japan finance minister Suzuki says the country's fiscal position is severe.
Head of the IMF says its too early to say world is facing an era of sustained inflation.
Germany December factory orders +2.8% vs +0.5% m/m expected.
New Zealand - Building consents/permits for December 2021 +0.6% m/m ( prior +0.6% also).
Looking ahead to the rest of the session highlights include U.S. NFP data, U.K. and EU construction PMI, EZ retail sales, and the Canadian labor market report.
By Rajan Dhall
For Kitco News
Time to buy Gold and Silver on the dips
