Bullet Report | GOLD Trades at 2 year high, as GBP slides again

^{After a quiet start of the week due to US Independence Day, the market will turn its head to the Speeches and Economic Data that is due today. BoE will present its report on financial stability today and Governor Mark Carney will speak at a press conference in which traders will examine the BoE response to the Brexit vote. Also in the US, Fed members will talk, and again, the market will look for cues as to how the reaction of the FED will be following the historic vote in the UK last week. Overnight, Australia left rates unchanged at 1.75%}

^{Currencies: AUDUSD is mildly lower today as RBA left rates unchanged maintaining a neutral stance in the statement with Brexit effects, remaining to be seen. GBPUSD is under renewed pressure reaching lows of 1.3220 as is EURUSD which dropped from 1.1158 to 1.1120 amid falling stock markets which strengthened the USD. Since markets fell overnight, USDJPY which moves directly correlated to stocks, fell also from 102.60 to 101.86 at time of writing. Overall, it is a strong USD day so far today with the US Dollar Index up 0.10%}

^{Stocks: Markets are taking a breather today, after last week’s rally. Nikkei is lower by -0.9% and just now German DAX opened lower from 9710 to 9668. Overall trading was thin as markets are still awaiting the US to return to activity following yesterday’s national holiday.}

^{Oil and Gold: Brent crude slipped 0.7% to $49.74 a barrel, after gaining 6.2% over the week through Monday. U.S. crude slipped 1.2% to $48.41, erasing part of the 5.7% advance made over the prior week. Overnight the price of precious and base metals hit multi-month highs before giving up gains as traders bet on more stimulus. XAU closed at a two-year high of $1,357.40 per ounce on Monday and last stood at $1,344.56.}

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