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(Kitco News) – There is only one place to start. As promised, Reddit’s band of traders accumulated on the Silver ETF (SLV) and spot silver rose a whopping 8%, leading to the opening of the EU. Gold is also trading higher, but it rose just 0.80%. Copper is also moving in the right direction, trading 0.90% higher.
The overall risk tone has been positive, with the Nikkei 225 in Japan closing 1.55% higher, Australia’s ASX rising 0.84% and Shanghai Composite trading at 0.64% in black.
In the FX space, the pound was the main winner, with GBP / USD moving 0.20% upward, along with AUD / USD (0.17%) and NZD / USD (0.19%).
in China, the market received the last Caixin manufacturing PMI for January, which lost expectations of 52.7 to print at 51.5 (before 53.0). In addition, over the weekend, the industrial PMI fell marginally by 51.3 vs exp 51.6 (prev 51.9) and was roughly the same for the non-manufacturing PMI (52.4 vs prev 55.7). At least all the numbers were still in the expansionist territory above the main area of 50.
In Italy, Renzi, from Italia Viva, is calling for finance minister Gualtieri to be replaced in discussions to form a new coalition with a government led by Prime Minister Conte.
Russian protests continue to draw attention, as more than 5,000 people were arrested over the weekend after showing their support for opposition leader Navalny.
In front of COVID-19, there is still a big battle over doses of the vaccine, as the EU has said it will ban exports of the vaccine if the agreement with AstraZeneca is not fulfilled. AstraZeneca said it will deliver an additional 9 million doses to the EU in the first quarter.
A group of Republican senators (10) wrote to new President Joe Biden with an alternative proposal for the pandemic stimulus, claiming that they will win bipartisan support.
For the remainder of the session, highlights include manufacturing PMIs from leading nations, U.S. construction spending and EU unemployment rate.
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