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Both gold and silver have moved down in the Aisa Pac session. Gold is trading -0.24% in the red while silver has fallen just over half a percent. Looking at the rest of the commodities complex, copper has dropped -0.68% but spot WTI bucked the trend to trade 0.09% higher.
It was a mixed session overnight in the indices as the ASX (-0.54%) and Shanghai Composite (-0.64%) both fell but the Nikkei 225 traded 0.06% higher. Futures markets are pointing towards a negative cash open.
In FX markets, the U.S. dollar index moved 0.11% higher overnight. The commodities currencies all suffered as USD/CAD (0.27%) pushed up and AUD/USD (-0.26%) and NZD/USD (-0.21%) both dropped. In the crypto space, retreated from the $50k zone and now trades at $47,054.
Looking at the news stories from overnight, the PBOC will use multiple tools to ensure reasonably ample market liquidity.
Australian Private Capital Expenditure (capex) for Q2 2021 +4.4% q/q (vs. expected 2.5% q/q, prior 6.3%).
German GfK Consumer Confidence Sep: -1.2 (est -0.5; prevR -0.4; prev -0.3).
The Bank of Korea has lifted its interest rate for the first time in 3 years. The central bank moved its main rate to 0.75%.
U.K. production hits its lowest level since the 1950s.
Japan's ruling LDP party agreed to conduct a leadership election on 29th September.
Chile's Salvador copper mine workers have deemed a wage offer from Codelco as unacceptable.
Looking ahead to the rest of the session highlights include The Jackson Hole Symposium, ECB minutes, U.S. initial jobless claims and comments from Fed's Kaplan, Bullard and ECB's Schnabel.
By Rajan Dhall
For Kitco News
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