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Gold is trading marginally higher leading into the European open on Tuesday. Silver on the other hand is trading just under flat at $25.88/oz after finding some support at $25.55/oz. In the rest of the commodities complex, copper trades 0.23% higher and spot WTI trades 0.25% in the black.
In terms of risk sentiment overnight, the Nikkei 225 (2.12%), ASX (1.48%) and Shanghai Composite (0.69%) all took the lead from Wall st to trade higher. Futures in Europe are pointing toward a positive open.
In FX markets, the dollar index moved 0.18% higher overnight and the biggest mover was AUD/USD which fell 0.34%. In the crypto space, BTC/USD has moved 3.34% higher and held above 30K once again.
In terms of news from the overnight session, Australia's largest city (Sydney) has extended its mask mandate to deal with coronavirus cases rising.
There are unconfirmed reports that Biden met with Manchin and Sinema on Monday for talks about the infrastructure deal. Biden was said to be encouraged by the shape of the deal but said questions still remain.
Japan May final machine tool orders 141.9% vs 140.7% y/y prior. Japan Core CPI, 0.0% y/y vs -0.1% prior.
NY Fed's Williams says the Fed is talking about talking tapering.
Fed Chair Powell said Inflation has picked up noticeably, job gains should pick up in the months ahead.
Looking ahead to the rest of the session highlights include U.K. CBI industrial trends, U.S. existing home sales, Fed's Chair Powell testifies. We could also get comments from ECB's Lane, Schnabel, Fed's Daly and Mester.
By Rajan Dhall
For Kitco News
