Gold and silver fall leading to European opening
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(Kitco News) -Gold and silver both fell, leading to European openness. The yellow metal called -0.38 * while silver fell -0.88% in the red. Across the rest of the commodity complex, copper also fell -1.21% but the WTI spot (+ 0.04%) managed to keep its head above water.
In terms of risk sentiment overnight, the Nikkei 225 (2.13%) and ASX (1.19%) traded well, but the Shanghai Composite fell -0.63%. European index futures indicate a positive opening.
In forex markets, the dollar index (0.14%) traded higher overnight, with commodity currencies the main victim. The worst performer was the NZD / USD which fell -0.58%. Bitcoin had another tough session overnight falling nearly 5%.
Regarding the Asian session news, BOJ’s Kuroda said he still believes ETF buys are still necessary, without considering stopping them just yet.
The BoJ should also consider an extension of its economic relief program in the event of a pandemic.
Australia may be ready to ask the WTO to create a dispute settlement panel to deal with barley duties imposed by China.
This morning, the German import price index for April rose to + 1.4% against + 1.0% m / m expected.
The Chinese Foreign Ministry’s Twitter account posted, “American politicians have tried to pass on the country’s bad deeds to others, making up stories of” forced labor “in Xinjiang and other parts of the world. American hypocrisy is astounding. ” There were other inflammatory tweets from @ zlj517 as well.
The BPC issued a statement on the yuan exchange rate and said the yuan should not be used to boost exports, offset rising commodity prices.
Spain states that investors are required to declare their crypto holdings abroad. Does that mean they should be taxed?
Binance CEO says cryptocurrencies cannot be phased out in the long term.
RBNZ Governor Orr said downside risks to the economy have eased. It comes after the odds of a rate hike jumped after the recent central bank meeting.
The White House says it is concerned about the GOP’s infrastructure proposal. Saying that does not provide substantial new funds and they are not sure how the GOP plans to raise funds for the projects.
Looking ahead to the remainder of the session, highlights include the EZ Sentiment Survey, US PCE, Chicago PMI, and US Budget Proposal.
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