Daily Morning Call
From the Floor: Gold to steam ahead amid uncertainty — #SaxoStrats
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With both Europe and America sailing in uncharted waters, safe-haven gold looks set to push even higher, while oil continues to struggle for a foothold as production outpaces demand.
- Gold resilient, resistance of $1,236/oz ahead of $1,250 — Hansen
- WTI crude below 50-day moving average
- Iranian oil minister says Opec willing to reduce output to hit $60/barrel target
- Expect consequences from energy sector's high income/debt levels — Garnry
- Bunds continue to strengthen as investors seek refuge, will eventually move lower
- French government bond spreads at 4/5 year high on election uncertainty
- Dax could be cause for concern if it hits 11,400 level
- EURUSD at yesterday's lows, could open up for next support level — Hardy
- Copper making a strong rally but susceptible to strike action — Hansen