Bullet Report | GOLD about to make multi year highs while we enter busy week

The First trading day of the busy week ahead is expected to be on a light tone as the US celebrates its Independence Day and the markets there are closed. Further down the week, we have a lot of data to set the tone. FOMC minutes (Wednesday) will reveal the discussion on keeping rates unchanged at the meeting before Brexit referendum. Wednesday will also feature EDP employment data ahead of Fridays all-important NFP Report.

Currencies: Today’s market open saw the AUDUSD open with a gap lower, on heightened political uncertainty resulting from Saturday’s general elections that produced on clear winner. . AUD dropped to 0.7410 from 0.75 before recovering. EURUSD was stable at 1.1130, unchanged from Friday, while GBPUSD is also taring close to Fridays close at 1.3292. With markets being on holiday mode, not much movement is expected today.

Stocks: Risk sentiment has improved last night with Asian stocks climbing despite low activity from the US holiday. Nikkei reversed earlier loss and is trading 0.35% higher at the time of writing. HK HSI extends earlier gain and is up 1.25%
Oil and Gold: Crude oil prices built on Friday’s surge and extended gains on Monday in Asia, encouraged by the Saudi energy minister’s view that the oil market is heading towards balance. Brent crude added 0.2 % $50.45 a barrel, while U.S. crude rose 0.2 % to $49.08. Spot gold rose about 1 % at one point to touch a session best of $1,357.60 per ounce. This was close to the $1,358.20 level reached on June 24, the highest since March 2014. Silver soared 7 % at one point to $21.107, the highest since July 2014, before retreating below $20.25 by 0415 GMT.

The post Bullet Report | GOLD about to make multi year highs while we enter busy week appeared first on Forex.Info.

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