 Gweld ydych chi'n gweithio ar y glas, a gweithio y 25 deilas o fynd ym 8 o'r cloch hefyd yn Londra. Rhywodd fel gyflawni gyda'r cyfraith cyflawni, ac mae hefyd yn cymryd ym mhwy, ac mae gennym ni'n gwaith o'r cyflawni gyda'r cyflawni gyda ymlawni gyda'r cyflawni gyda'r cyflawni gweithio. Rhaid oedd yn dod o'r gweithio, rhai ar gyfer y trogymniad, rhaid o'r amser yn ei ffordd i'r ysgol yn y maen nhw, i'r ynwedig i gael iechydig yn eich cyfrifodig, mae'n cael ei fod yn oed yn ei gws i'n mynd. Mae'r hyn yn lle i'r cyfrifodig, i'n cael ei gws i'r cyfrifodig iawn, ac i'r cyfrifodig iawn yn gweithgaredd, yn nid yw i chi mennyn i'r 150e handl, yr unbartho'n cyfrifodig i chi. Rwy'n cael ei gws i'n cyfrifodig iawn o'r cyfrifodig, a byddwn i'n gweithio'r cyfrifodig iawn mae'r cyfrifodig iawn yn y cael ei gwasg ddwyno, iawn. Ac hynny'n gwybod ni'n gwybod o'r ddau o'r cyflwydd, ac yn gwybod yn gwybod i'r rhan o'r fflusio'n gwybod a'r aww ddau yn gwybod o'r ddau, yn ystod o'r ymdilygu ar y pic. Rwy'n golygu o'r ddau, mae'r golygu o'r ddau o'r ddau o'r ddau o'r ddau o'r ddau i'r sefydig yn y ddysgu'r hanes yn y ddweud i'r fflusio yma ar y ddau oed. Er mwynhau fânwydau ar gwellachonau'n ddigodech gyda'r newydd Eran hynny'n hynny'n dweud gyda'r newydd yr hynny oherod oheron sy'n cael eu miliadau a gyda'r newydd gynnigau ar draws ofnol oheron oheron. Mae'r newydd oherwydd i'w daeth eich ddweud i'r newydd yn rhan, Gwyl pwysig i gydig o'r ddau sydd yn y gynllun yma i'r mynd i gydig oherwydd yma'r teimlo yn yr M20 a'r eich gweithio'n amser oedd Trump ac G yn ymweld. Ymddangos yn gwneud. Felly, yn y pwysig i gydig i'r pwysig ac yn gwneud yn ymgyrch, Andy, yn ymgyrch, yn ymweld, yn y lle i'r spandau, gael ychydig sydd gael g Patreon o ff checks由 ei wneud yn trio hun i'w ourad.Bydd oherwydd mae Ryan i'w cymrydau'u cyfrifodol, ar gyfer lliniu nawr, am olmais welauír cymrydfer, phob mwyaf, ond yn perno fod yn gwybudd mewn greedy BACK saffa, i fod han subscribers o gwfan i fod cyfrydau a chun â petrwyr eu tyfeydd armyf, yn rhoi d popeil yr oedd yn mynd i dda, felly mae'n ei arguably ochi iawn i gelfenni ac bod yn yn hwyl maen nhaw'r Scotland Ieithio that was fed last week. That has helped us to push higher. Wether we have a bit more room to go will come onto, but decent push here for Gold. I know that certain people, certainly at Ampify, will be happy to hear that. I know that Tomasso was in along and Will was in for a while. Let's have a quick look over that chart here. Certainly, being a bit of a journey, it wasn't too long ago, ac mae'r llwyddo yn amlwg, ac mae'r llwyddo yn llwyddo yn llwyddo yn llwyddo yn llwyddo, ond rwy'n amlwg y peth yn y gweithio o'r llwyddo yn hanesol. Dwi'n gweithio yng Nghymru ar y 13 o augas. Mae'n gweithio'r llwyddo yn llwyddo yn llwyddo yn llwyddo yn y 2016 o'r 2017. felly gallai weithio yn defnyddio y fwnnedd yn ei bod yn ei ddweud mewn gwahanol. Mae'r drwy gwell yn y gweithio'r hwn dan o'r gweithio'n radiol yn y defnyddio'r reineidio'r gweithio sefydliadol i gael yng Nghaerran Gwunasol. mae'r d Arduino wedi'u cyhoesio cyhoesio, mynd i'ch bobl yn ei dda newid uch chi'n ddweud mae'r berthyn nhw'n dnat oha o'r lyrdegoedd yng nghymprigol, ac mae'n ddweud o'r tyni ac yn y Llywodraeth 2016 o-vr-e-n-dyn. The highest since May 2013 overnight, we're now trading on August 2013 levels on the futures. You can see just a few more dollars above and we'll be at that key level. Where do we go? Can we continue to push higher? I think there's going to be a number of factors determining that. If we have a look at the calendar for today just to identify possible moments where the dollar or otherwise may move. Certainly not in the morning. Then you've got Richard, Richmond Fed at three. I wouldn't be looking at that for gold, to be honest. So with Trump, any tweets on the Fed, another attack on the Fed yesterday helping to weak the dollar will come on to his tweets in a moment. But what is quite interesting here is looking at the speakers today. You've got quite a few from the Fed. You've got, looking here, 145, you've got Fed's Williams, you've got then Bostich, obviously Powell, which will be, for me, the second most important one before we go on to barking and then Bullard, the loan dissenter from last Wednesday's meeting speaking overnight, 11.30 scheduled here. Now those two there, Bullard and Powell, I think, could absolutely give us an opportunity to see where this market goes, not just the gold but the dollar in general. We have had some weakness certainly over the last few trading sessions and whether that continues or not, we may get a bit more of an indication here. Powell, who I mentioned speaking at six o'clock, is speaking at a council, sorry, on foreign regulations according to reports. He is expected to talk about big picture events, like the broader challenges of the Fed. So any comments regarding that will be key. He'll move the markets if he comments on what it is that policy makers are looking to determine whether they're going to cut in July or not. So certainly if you're trading the US dollar, come six o'clock, I would be, to be honest, unless it's a new, a relatively old trade, I would be looking to exit position certainly ahead of that. Bullard, who I do think could have more of a chance of moving things, he's speaking obviously later on and scheduled to speak at a round table dinner organised by MNI News. Without a specific topic, Bullard will be free to talk about whatever he wants and what data other members will be looking at when they make their interest rates decisions. So that will be something to focus on. Certainly as we go into the back end of the session, other than that, the calendar is relatively quiet. So it could be in not just those two that I mentioned, but you've got speakers from ECBs to Gwyn Dost in, well, just coming out now. So if anything comes out of significance, I'll let us know. He's just coming out here. Banks profitability prospects could dust be dampened. Yeah, nothing of note really for the euro. Just keeping an eye on that pivot as we are seeing a bit of a reversal. But then you've also got the multitude of Fed speakers and then ECBs per just 15 minutes after Powell as well. The main headlines overnight, certainly the one that will catch the attention is the new sanctions that have been placed on Iran. Previously, and we know this already, that the U.S. has sanctioned more than 80% of Iran's economy according to State Pompeii, who was mentioning this yesterday, who is visiting Saudi Arabia and the UAE to rally a front against Iran. I mean, if we just will come back to the headline here, but if we just have a quick look at at the markets here, you've got stocks at all time highs. Yes, we, I mean, you could argue from the high of today 58, we've done 11 points to where we're trading, you know, cash open does that. It's not the biggest reaction that we've seen. T-notes higher in the morning, but you know, nothing, you know, half that move has already been done and we're actually pretty much flat for the day given, you know, a few ticks here or there. Gold has been pushing higher and of course then you could then argue that it is a clear risk off move, but you've got the weakness of the dollar as well and what recovery by the way at six to only put us 15 bucks up for the day. So is this headline a game changer? For me, not quite yet. For me, not quite yet, but it will grab attention and certainly looking at stocks and safe havens, the continuation strategy if the highs or lows were to break could be the way to look at it. I just wouldn't be aggressively selling stocks right now, you know, rather let in the market, tell me what's what's going to go on. Trump has coupled his maximum pressure campaign of sanctions with invitations to sit down with Iranian leaders, so saying how they want to do a deal and they're willing to talk, but then going and placing the sanctions as well is quite ironic, I guess, from the US president and around didn't take to this too kindly saying you cannot start a dialogue with someone who is threatening you, who is intimidating you. Certainly we've heard that in similar talk from China as well and whether the G20 meeting goes ahead or not, this could help way on stocks into the back end of the week. This Iranian situation at the moment, I don't necessarily see escalating for now. Having a look at oil price as well, it is down actually on the day and pretty much bang in the middle, give or take a few cent of the week's range so far. I know albeit from yesterday and the high and low, but pretty much in the middle. So maybe looking for longs if we can break the highs on oil, but for now it seems relatively calm and under control. At the United Nations on Monday, this is when those comments from Iran were saying yesterday about how you can't do talks with someone who is threatening you, but even before the new penalties were announced, the US has applied sanctions to almost 1,000 Iranian entities including banks, individual ships and aircraft. A month ago, the Trump administration prohibited the purchase of Iranian iron, steel, aluminium and copper. This has been going on for a while so it's just adding fuel to the fire, but if we have a look back at how we've got here I wouldn't say stocks certainly are too bothered about this and their bigger concern for the moment is upcoming G20 and then the comments from the Fed and whether we're going to get a continuation of this dollar weakness or not and of course with equity rates looking like we're actually going to have a cut. Tensions spiked in the Gulf since May. We had the tanker Gulf of Oman of course that led to a brief rally in the price of oil. We did then recover that and now we're trading near 58 which for me is obviously a key level from where we talked about in the briefing yesterday. You know just having a look at this longer term, why is 58 important? Well actually it just needs a little bit of a refresh here, the chart. It just remove everything off here on the chart. Having a look here at oil you can see just those previous lows coming back from May this year before the push down in the last day of the month or the second last day. We're now back there. 58 dollars massively important. Can we close above there this week or is that going to be a short time top? I put it down to you know the importance of technicals right now. 55 was key you can see why from the high that we had on the 10th of June. The failure to make that new low on the 12 and we pushed on next key level to the upside certainly from just a support resistance point of view. 60 bucks also another psychological handle. So it seems in the balance for now and this story on Iran not enough just yet to help us push higher despite the fact that the dollar is weak which of course would help oil price. So yeah one to keep an eye on but not necessarily one to ignite things straight away. Trade G20 coming up. The headline from Bloomberg overnight Trump and G to seal a deal. Traders aren't holding their breath. The general consensus of course is that there is going to be a meeting. Trump's tweet caught the market off guard last week. We had a decent push higher helped by the dovish Fed but you can see really from if we have a look at the Monday last week where we were range bound here just to draw an X because I've got the trend line on. You know we have had a decent push from 2900 which offered a level of resistance in previous trade to Monday. We're now 46 points higher to the high. We were 69 points higher. So a decent push helped by the idea that there is going to at least be a meeting but not necessary that there's going to be a deal with the the dovishness of the Fed talk of two hikes like Anthony was mentioning last week. Trump can step up his hawkish rhetoric. He's done it with Iran. He can now absolutely do it with China. You know he was blacklisting more technology firms over the weekend so he knows what he's doing. I still stand by the fact that I think he's just shot a bit too early here with the positive China news obviously election year perhaps behind his thinking. Chinese equities if I can just bring those into picture. Here you can see the recovery that they have had since the idea that they're going to meet. The general consensus on Chinese equities according to some analysts is that they won't actually come under too much pressure of whatever happens at the talks or if there is even talks that said the downward price action wasn't too severe as the trade dispute escalate because institutional investors hadn't piled into emerging market rally in the first quarter. So while we would not advocate fully allocating back into high beta emerging market market equities and risk on given the real risks to growth the fundamental story nothing is screaming out to us to be fully defensive either. So other comments to to bear in mind and this article here does go through some of those here. Let me just bring that into picture. There was yeah I think that the uncertainty surrounding here we go I was going to say for the the article disappeared there for a moment but here are a few snippets of what people are viewing ahead of the meeting. Nobody is really expecting anything concrete. There's very slim chance that we'll get a solution to the trade issue. The market has already discounted bad news for a worst case scenario. Our position is to take a wait and see approach. We're waiting for things to get worse on a much larger scale before buying the dip. Brian Chen there I think a lot of people are certainly looking at that over the coming years. But this sentiment leading up into this meeting is pretty bad that they're not actually going to get anything done. The fact that they're talking is what's pushed prices higher. So even if they weren't no deal was struck and I don't think the market is expecting that just the fact that they're talking and Trump I'm sure will say they had constructive talks well stocks should remain pretty elevated. We did a quiz a little survey after the briefing yesterday on what the traders here believed the bias for US stocks would be this week and this was before the sanctions on Iran and the majority or the highest answer was that stocks would actually come lower. You could argue that a bit of that is just down to the fact that we are at these all-time highs again. It is a case of taking profit and regardless of what happens in the G20 we're not going to see a massive correction. If we were to see hawkish chap from the Fed and let's go back to that calendar Powell and Bullard may give that opportunity then sure we could drift that lower in stocks. But it seems that the rate cuts are now being priced in. It might even be that we're getting a double cut in one at July. That's just going to add to the fire to push this market higher with the dollar weakness G20. It seems as we're getting closer what was thought to be such a big event is actually now being brushed aside as not too much is expected. The opportunity for me will come on the flip side so you've got to think of it as really buying opportunity will come if they were to strike a deal. The chance of them doing that is low so therefore the reaction will be high and on the flip side if the talks go really badly and China and the US do what they did back in the beginning of May and say they're not going to come to any arrangement anytime soon and then stocks can come up. Anything in between talks going well progressing we had a good chat sideways movement and then let the Fed dictate where this market will go. That would be my opinion on things going forward. Also overnight headline wise Boris Johnson we've got to talk about Brexit. We've got to talk about the new PM or supposedly the favourite for the new PM Boris Johnson saying he's serious about no deal Brexit threat. So yesterday seeking to regain the momentum in the bid to become the next Prime Minister he was saying that we need to take the country out of the European Union on October even if a deal with the bloc had not been reached. We've heard this before but however you know in the build up to certainly the conservative voting he did lower his hawkish rhetoric a touch regarding no deal so just stepping it up a touch. However not influencing the pound too much at the moment the pound very much a case of maybe waiting sea to the back end of July when we have our new PM in place and more for now is getting dragged round by the US dollar. We'll have a look at the euro pounds slightly as there was a couple of reports regarding that. But Boris Johnson the former London mayor still the front runner in the race to succeed May. His comments were my pledge is to come out of the EU Halloween on the 31st of October and the way to get our friends and partners to understand how serious we are is finally I'm afraid to abandon the defeatism and the negativity that has unfolded us in great cloud for so long and prepare confidentially and seriously for a no deal outcome. He said he did not want the no deal outcome but it was necessary to go and put with that and prepare for it going forward all things that we've heard before. So with the headlines if we have a you know a bit of a recap you've got the well gold pushing higher dollar weakness and potentially a bit of risk off you'd have to say that that's fair enough. The Fed situation we've got speakers today so being aware certainly of power at six bullard this evening they're going to be the main ones to focus on. I think bullard will offer the best opportunity as it stands right now. The Iran situation risk off in the market oil not necessarily buying into it at the moment and is pretty much flat for the week very important area here you can see again 58 to keep an eye on where we close each day and week. The trade situation G20 as we drift down towards it not too much in the way of progress expected to be made. You have the two opportunities of a deal being reached or a deal not going to be reached for a very long time that's your opportunity for a trade there and then you've got Boris overnight stepping up the hawkish rhetoric nothing necessarily new but just a repeat or something that he hasn't said for a while. Quick look at the calendar just to wrap things up before we have a look at some of these markets you can see going through in the morning it's likely to be quiet like it was yesterday in the morning patient trade not looking to get too involved would be my advice even into the afternoon the only two bits of notice of data wise the Richmond Fed unlikely to move markets and the api work depends how out of line those inventories are. It's going to be about the speakers we've had to Gwindos not much in the way of movement from that again quiet until we come into the afternoon and fed speak and a bit of ECB from Kerr as well so that's going to be certainly from a schedule point of view the driver as well having a look at markets the the pound here we had a look at oil you can see the the pound certainly here against the euro perhaps looks like it is going to be topping out a touch we're almost reaching reaching north what we did reach north 90 which is again a key level from a breakdown that we had back in January last year it's been a strong push higher just looks like the from yeah literally as we then hit the low from the year on the fifth of the third and overnight over the weekend the sixth of May it's been one way traffic to the upside the last article I do want to just go over here is the pound looks even worse than the euro you got some analysts saying that it's likely to you know go to towards 92 pence per euro by year end about three percent below current levels and this is not great for those that are looking to go on their summer holidays if you look back from where we were in May percentage wise what I don't even want to look at this as I'm off to Madrid shortly 5% not looking too good for the pound however I think ahead of the 23rd 24th 22nd that sort of time where we're looking like we're going to have the the new PM that's when it's certainly scheduled for anyway not much can really be made in the way of progress so I think we can drift higher what happens from then on might be the opportunity to to get short euro pound or long the pound in that case from a gauge of sentiment certainly I find this very useful with the dollar pairs and just drawing up these trend lines here if we were to get below this trend line for example okay well the market might be telling me that we're now looking to come lower but for now certainly this market is favouring the upside key resistance so be keeping an eye on that hopefully we do not get another three percent move in this market higher as we go through the summer stocks certainly from the the EU open just recovering a touch and the the daxed only now four points below where it opened recovering some of that loss gold looking like it wants to have a note another go pushing that high euro held well on the pivot and the pound pushing higher for more technical reason has remained higher above what was its previous higher the day at 128 hope you all have a good trading day any questions as usual please do let me know and I'll catch you in the chat if not