x
Gold (-0.17%) and silver (-0.33%) head into the European session trading slightly lower this morning. Gold is trading at $1825/oz after a good few days of decent price action while silver trades at $26.22/oz. In the rest of the commodities complex, copper has moved 0.40% higher and spot WTI has dropped another -0.18% after a heavy couple of sessions.
The risk sentiment in the Asia Pac area was mixed once again overnight. The Nikkei 225 (-0.98%) and Shanghai Composite (-0.58%) both dropped but the ASX bucked the trend to trade 0.17% higher.
In FX markets, the biggest mover in the Asian session was NZD/USD which rose 0.50% and the dollar index (0.05%) rose marginally after but EUR/USD and GBP/USD fell slightly. In the crypto space, bitcoin is once again heading toward the consolidation low and trades at $31,626.
Looking at the news stories overnight, the RBNZ's core inflation measure for Q2 reached 2.2% (prior 2.0%). This fueled bets that the RBNZ would hike rates sooner than some analysts had expected.
NZ CPI Q2 2021 1.3% q/q (vs. expected 0.8%) and 3.3% y/y (vs. expected 2.8%).
China will require property developers to disclose commercial paper debt every month.
Canada may accept fully vaccinated Americans into the nation in mid-August.
JP Morgan CEO Dimon sees H2 growth in the U.S. stronger than its ever been.
U.S. Treasury Secretary Yellen says she thinks there are several more months of rapid inflation ahead.
The U.S. is preparing to impose sanctions on several Chinese officials over Hong Kong.
China denied a request for U.S. secretary of state Sherman to meet with her Chinese counterpart on her official state visit to China.
The BoJ kept rates and YCC unchanged in their latest monetary policy and rate decision.
Looking ahead to the rest of the session highlights include EU CPI, U.S. retail sales, Michigan data and comments from Fed's Williams.
By Rajan Dhall
For Kitco News
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