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Gold and silver are starting off the new week on the front foot. The yellow metal trades 0.20% higher at $1783/oz while silver has moved 0.29% in the black. In the rest of the commodities complex, copper has lost 0.09% but spot WTI continues to climb and trades at $74/bbl.
Risk sentiment in the Asia Pac area was very indecisive. The Nikkei 225 (-0.06%), ASX (-0.01%) and Shanghai Composite (-0.14%) all traded marginally lower. Futures are pointing towards a negative cash open in Europe.
In FX markets, the dollar index is flat but one of the biggest movers has been GBP/USD after some political movements in Boris Johnson's administration. Former Chancellor Sajid Javid has taken over from Matt Handcock as health secretary and he is seen to be the more economy friendly option. Over the weekend BTC/USD traded well but this morning the crypto major is flat.
Looking at the news stories from the weekend and overnight, Germany's Merkel wants to ban all travelers from the UK entering the EU due to the delta variant of the coronavirus.
Joe Biden has dropped his threat to veto the infrastructure deal if it comes without a reconciliation package.
Germany May import price index +1.7% vs +1.3% m/m expected
Fed's Rosengren said you don't want too much exuberance in the housing market.
UK Chancellor Sunak & new UK Health minister Sajid Javid are hoping for July 19 reopening.
Singapore and the UK will launch talks on a digital trade agreement today
China industrial profits data for May hits +36.4% y/y vs. April at +57%.
French President Emmanuel Macron and far-right leader Marine le Pen both produced a disappointing set of results from the latest round of regional elections in France.
UK financial regulator has banned some Binance operations in the nation. But the crypto broker said it has no effect on the services it provides on their main website.
Looking ahead to the rest of the session highlights include comments from BoE's Haldane, ECB's de Guindos, Panetta, Fed's Williams, Quarles and Harker.
By Rajan Dhall
For Kitco News
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