Silver moves slightly higher ahead of the European open

LONDON ( SEPT 7)  Gold has moved 0.26% lower overnight while silver has pushed 0.20% into the black. Elsewhere in the rest of the commodities complex, copper (-1.19%) and spot WTI (-1.69%) both struggled overnight. 

In the indices, the Nikkei 225 (0.03%) managed to keep its head just above water but the ASX (-1.42%) and Shanghai Composite (-0.07%) underperformed. 

In FX markets, the biggest mover was USD/JPY which rose 0.86% compounding on the yen's recent woes. In the crypto space BTC/USD trades at $18,771.

News from overnight:

Fed's Barkin says has a bias toward hiking rates more quickly, rather than more slowly.

Japan chief cabinet secretary Matsuno is ready to take action on FX moves if necessary.

Australia Treasurer Chalmers says that strong commodity prices cannot be relied on to last.

Bank of Japan says it will increase its buying of JGBs in its regular operations.

RBNZ Assistant Gov Silk: well placed for wind-down of additional monetary policy tools.

U.K. August Halifax house prices +0.4% vs -0.1% m/m prior.

Germany July industrial production -0.3% vs -0.5% m/m expected.

Japan's July leading indicator index 99.6 vs 100.2 expected.

Chinese trade data for August shows exports +7.1% y/y (expected +12.8%) in USD terms.

Australian Q2 GDP +0.9% q/q (vs. expected +1.0%).

Australian August Services PMI rises to 53.3 (prior 51.7).

Looking ahead to the rest of the session highlights include EZ GDP, BoC rate decision, Fed Beige book, EIA STEO, and comments from BoE's Bailey, Pill, Mann, Tenreyro, Fed's Barkin, Mester, Brainard and Barr

KITCO