Risk sentiment looks mixed heading into the EU open

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(Kitco News) – Gold is marginally lower and silver is trading 1% in the red leading into the EU open. Risk sentiment in the Asia-Pac area was poor as the Nikkei 225 (-0.16%), ASX (-1.20%) and the Shanghai Composite (-0.29%) all closed lower despite a positive handover from Wall Street where all three bourses traded at record highs.

Heading into the EU session it has emerged that the EU and UK are still pretty far apart on a deal despite the deadline of 31st December edging closer and closer. Ursula von der Leyen stated “big differences” remain in the trade talks with the U.K., with fisheries still the main sticking point between the two sides.

The US administration still continues to be subjected to hacks. This time the U.S. nuclear weapons agency, at least three states and Microsoft have all had their systems interrupted by hackers with links to the Russian government.

On the coronavirus front, the FDA expected to issue an approval for the Moderna COVID-19 vaccine on Friday. This may be just in time as the US States has been told by the federal government they will receive fewer Pfizer vaccine doses next week.

The BoJ kept rates unchanged overnight but announced a six-month extension of its special program aimed at easing corporate financing pressures amid the coronavirus pandemic. USD/JPY has pricked up from depressed levels to trade half a percent higher this morning.

Bitcoin has had another bumper session printing at all-time highs of $23,776 on the Coinbase contract. BTC currently trades at $23,087 after falling back a touch from the highs.

Looking ahead to today’s session the highlights include UK retail sales, German IFO data, Canadian retail sales and comments from ECB’s Enria and Feds Evans & Brainard. 

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