x
Gold is trading 0.08% higher leading into the European open at $1784/oz. On the contrary, silver has fallen 0.44% and starts the session at $22.44/oz. In the rest of the commodities complex, copper is trading just under flat, while spot WTI is up around 2%.
On the risk side, the Nikkei 225 (-0.36%) and Shanghai Composite (-0.50%) fell overnight, while the ASX (0.05%) managed to keep its head above water. Futures in Europe are initiating a positive cash open is on the cards.
In FX markets, the dollar index is up 0.19% and AUD is the only major currency to gain against the greenback. In the crypto space, BTC/USD had a dismal weekend falling through $50K to trade at $48,117.
Major headlines:
Talk of an RRR cut from China. China Securities Daily says cut could come as soon as this month.
U.K. ministers announce new COVID-19 restrictions for travellers entering the U.K..
Biden and Putin are to have a phone call this Tuesday (one for the diary).
Japan PM Kishida says to shorten waiting period between vaccine and booster shot.
Swiss National Bank (SNB) vice chairman Zurbrügg to step down at the end of July 2022.
US to fast-track revamped vaccine in battle against omicron.
Germany October factory orders -6.9% vs -0.5% m/m expected.
Looking ahead to the rest of the session highlights include EZ sentix data, Riksbanks minutes, comments from BoE's Broadbent, Riksbank's Skinglsey and the Eurogroup meeting.
By Rajan Dhall
For Kitco News
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