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Gold and silver have moved higher leading into non-farm payroll Friday. The yellow metal is 0.22% higher trading at $1813/oz while silver is 0.29% in the black. In the rest of the commodities complex, copper (0.33%) and spot WTI (0.23%) have both moved higher.
Looking at the risk sentiment overnight the Nikkei 225 (2.05%) and ASX (0.50%) both had good sessions while the Shanghai Composite bucked the trend to trade -0.70% in the red. Futures in Europe are pointing towards a mixed open at the moment.
In FX markets, it was a pretty lacklustre session overnight. The dollar index is 0.03% higher and the biggest mover was AUD/USD which rose 0.27%. In the crypto space, BTC/USD trades 0.41% higher just below the $50K psychological area.
Looking at some of the news stories, Japanese PM Suga confirms he won't be running in the LDP leadership race.
China says it will establish yuan-denominated commodity futures market.
China Caixin/Markit PMI Services August: 46.7 (expected 52.6, prior 54.9).
Japan - Jibun Bank/Markit August PMI Services 42.9 and Composite 45.5.
Germany's DAX index to expand from 30 to 40 stocks - additions to be revealed today.
Australia - Markit Services and Composite PMI for August (final) 42.9 & 43.3.
Australia AiG Construction PMI for August: 38.4 (prior 48.7)
Chile's Codelco copper mine production rose 2.7% Y/Y to 136,900 tonnes in July.
BHP's Escondida mine production fell 17% to 86,300.
Looking ahead to the rest of the session highlights include U.S. NFP data, composite and services PMI's from the major nations and EZ retail sales.
By Rajan Dhall
For Kitco News
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