(Kitco News) – Gold is trading pretty much flat leading into the Europen open. The yellow metal is trading at $1823/oz while silver (-0.20%) is holding at $24.37/oz. In the rest of the commodities complex, copper (-0.27%) and spot WTI (-0.37%) are trading lower overnight.
In terms of risk sentiment, the markets were mixed overnight. The Nikkei 225 (-0.75%) and ASX (-0.24%) traded lower while the Shanghai Composite pushed 0.25% into the black. Futures in Europe are indicating a slightly negative cash open. The U.S. S&P 500 closed at an all-time high overnight for the eighth consecutive session in a row.
In FX markets, there was not much movement overnight in the majors. The dollar index is trading -0.11% lower. In the crypto space, BTC/USD reached a new all-time high and is currently trading at $67952.
News stories from overnight:
Federal Reserve Governor Lael Brainard is said to have interviewed for the top job at the U.S. central bank when she visited the White House last week.
Fed’s Evans says if inflation expectations increase a lot it’d make sense to think about a 2022 rate hike.
Japan’s PM Kishida says he wants to compile a further economic stimulus package on November 19th.
China’s NDRC has held meetings with banks and property developers.
German September trade balance €13.2 billion vs €13.0 billion prior.
Japanese October economy watchers survey current situation 55.5 vs 42.1 prior.
New Zealand Card Spending for October – Retail +10.1% m/m (prior +0.9%).
Looking ahead to the rest of the session highlights include German ZEW data, U.S. PPI, and comments from ECB’s Panetta, Knot, Lagarde, Schnabel, Fed’s Powell, and Daly.