Day Trading 6 Jul Pre Market

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    Morning all
    Thanks AM crew

    SPI futures are 18 points lower at 5167 today following weakness in the US after they returned from their July 4 celebrations.

    Last weeks best rise of the year faded as oil prices slumped, and fresh concerns over the EU surfaced.
    U.S government bond yields reached record lows as investors found refuge in the perceived safety of Treasuries and uncertainty from Britain's vote to exit the EU, known as Brexit, fueled worries about a global economic slowdown.
    Four of the top five decliners on the S&P 500 were bank stocks, with JPMorgan (JPM.N), down 2.8 percent t0 $59.55, weighing the most. The financial sector of the S&P .SPSY was down 1.5 percent
    "Brexit is a friction on economic activity and that's bad for banks," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago.
    "Low interest rates are horrible for financials, specifically for banks. The spread between where they borrow and where they lend is getting closer together." 1
    S&P  -.7%
    Nasdaq  -.9%

    The Bank of England Tuesday announced it was easing its monetary policy by loosening capital requirements in order to boost lending. The BOE move came as the British pound fell to a new 31-year low against the U.S. dollar Tuesday.
    Sterling touched $US1.30 and sank to its lowest since 2013 against the euro as evidence piled up that the Brexit vote is hurting confidence in the UK economy.

    Brent crude fell 3.9 percent and U.S. crude lost 4.5 percent as investors worried that Brexit would slow the global economy, making it unlikely energy demand will grow enough to absorb a persistent supply glut.
    The energy and materials sectors of the S&P 500 fell 1.9 percent.
    Oil $48.68 - $2.12

    Base metals weaker, Nickel took it up the Khyber, down 5%,
    Copper - 1.2%

    Gold futures prices closed at a 27-month high close Tuesday, on more safe-haven demand amid risk aversion among traders and investors on this first U.S. trading day of the week. Meantime, silver prices soared to a two-year high of $21.22 overnight, basis September Comex futures, before backing well off that high.
    Gold $1356
    HUI + 2%
    AUD Gold $1814

    AUD .7462

    Have a good day

    1 Reuters
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