Headland Research First Light · a daily market briefing

First Light · Thursday, 2 July 2026

Your eyes and ears on the Asian session — while the US sleeps.

A daily, marked-to-market briefing on gold, FX and crypto — read from Australia while the US sleeps through the Asian session. First Light lands in your inbox each trading morning.

Published every trading morning since 12 June 2026 · 15 briefings on the public record · every idea tracked, win or lose

Track record — simulated paper bookas of 2026-07-03
$3,666
Realised P&L
56.2%
Win rate
1.89
Profit factor
81
Trades closed
−7.0%
Max drawdown

Simulated paper account — launched 6 May 2026 with a notional $10,000, every idea tracked win or lose. Simulated results have inherent limitations and do not represent actual trading. Past performance is not a reliable indicator of future results. See the full record →

How First Light works

I Evening, your time

Read First Light after work

Wall Street is shut and the Asian session is where the overnight moves happen. One concise briefing lays out the wrap, the calendar, and the day’s ideas.

II Before you sleep

Place your resting orders

Each idea comes with entry, stop and target levels — the order mechanics, so a plan can sit working overnight while you’re asleep.

III Breakfast

Check the result

Wake up to the outcome. Every idea is then marked to market on the public paper book — win or lose, no cherry-picking.

From this morning’s briefing Thursday, 2 July 2026
The US economy keeps refusing to slow down, and that's the whole story this morning. Strong data has traders betting the Federal Reserve leans toward raising interest rates rather than cutting — which is lifting the US dollar, pushing bond yields up, and knocking gold back under $4,000 for the first time since late last year. The one event that can rewrite all of it lands tonight: the US jobs report, pulled a day early because of the long weekend over there.
Today’s ideas
  • XAUUSDSHORT sell the bounce into resistance levels for subscribers
  • EURUSDSHORT fade the bounce, ride the dollar levels for subscribers
  • ETHUSDSHORT fade the relief rally at resistance levels for subscribers
Read this morning’s briefing →
I

Done-for-you overnight research

Overnight wrap, the day’s calendar, and a handful of specific ideas with levels. Market commentary, not advice.

II

A public, marked-to-market record

Every idea tracked on a simulated paper book — no screenshots of the good days only. Public and continuous.

III

Research-firm discipline

Numbers over adjectives. Calibrated conviction, honest about losses. The tone of a research desk, not a hype channel.

Read the session. Place your orders. Sleep.

Start with a free sample, or subscribe and get tomorrow’s First Light in your inbox.