AUD & XAU Movements In 16 / JUL

Australian Dollar (AUD)
The Australian Dollar (AUD) surged to new post float highs as gold surged and the USD weakened. The July RBA meeting minutes were seen balanced with the central bank reiterating that current rates were appropriate and that demand should slow tempering inflation. Overall the AUD/USD traded with a low of 0.9709 and a high of 0.9849 before closing the day at 0.9779. Looking ahead, RBA Governor Stevens will be speaking on the challenges of monetary policy

Gold
Gold (XAU) continued to rally as safe haven flows increased on slumping stocks. Overall trading with a low of USD$968.70 and high of USD$988.15 ending the New York session at USD$977 an ounce.

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