This article has been translated from English to Gen Z Slang.

Yo, Wednesday was a total vibe as traders were multitasking like pros with a spicy mix of inflation tea & Fed talk. The drama of the day was all about those undercover claims that Trump might yeet Fed Chair Powell, shaking up the big markets and leaving everyone with mixed feels, ya know? 😩

Check out these news bits you probs missed during the last trading sessions!

Spill the Tea:

  • Japan's Reuters Tankan Index for July 2025 hit 7.0—exactly as foretold! 🙌 (Was 6.0 before.)
  • U.K.'s Consumer Price Index Glow-up for June 2025: 0.3% m/m (call was 0.4% m/m; past was 0.2% m/m); 3.6% y/y (predicted 3.5% y/y; former 3.4% y/y)
    • U.K. Core Consumer Price Index spiced up for June 2025: 3.7% y/y (called 3.6% y/y; last was 3.5% y/y); 0.4% m/m (forecasted 0.3% m/m; was 0.2% m/m)
  • The Eurozone Trade Flexing for May 2025: 16.2B (expected 11.5B; was 9.9B before)
  • U.S. MBA Mortgage Applications for July 11, 2025 nosedived -10.0% (before 9.4%)
    • U.S. MBA 30-Year Mortgage Rates on July 11, 2025: did a little hop to 6.82% (6.77% previous)
  • Canada Housing Starts for June 2025: 283.7k (brainy guess was 260.0k; went from 279.5k)
  • U.S. Producer Price Increasing Slowmo for June 2025: 2.3% y/y (called 2.6% y/y; last was 2.6% y/y); chillin’ at 0.0% m/m (thought 0.3% m/m; was 0.1% m/m previously)
    • U.S. Core Producer Price Index Steady Vibe for June 2025: flat at 0.0% m/m (expected a pop to 0.3% m/m; was 0.1% m/m); slinking at 2.6% y/y (hoping 2.8% y/y; used to be 3.0% y/y)
  • U.S. Industrial Glow-up for June 2025: 0.3% m/m (right on guess; was a sad -0.2% m/m); 0.7% y/y (was wishing for 1.5% y/y; it was a tiny 0.6% y/y)
  • U.S. Manufacturing Gained a 0.8% y/y boost for June 2025 (thought 1.1% y/y; previous swag 0.5% y/y); just okay at 0.1% m/m (expected 0.2% m/m; has been 0.1% m/m)
  • U.S. Capacity Zooming Rate for June 2025: Hit it at 77.6% (forecasted 77.4%; same ol' 77.4% before)
  • The U.S. EIA Crude Oil Stock Scene for July 11, 2025 chilled at -3.86M (whoa was 7.07M)
  • Markets were doing the cha-cha on Wednesday, all revolving around this hush-hush buzz about Trump possibly booting Fed Chair Powell, soon debunked by the man himself.

Swipe Right for Market Moves:

Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay Chart by TradingView

Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay Chart by TradingView

The Asian and London sessions were chill till buzz started poppin’ with Trump’s “Should I kick Fed Chair Powell?” question and some plot-twist inflation data throwing everyone off their game.

Bitcoin kept the hype alive on Wednesday, bouncing over 2.74% almost touching $120K. No clear fresh deets, but probs fueled by institutional FOMO, bitcoin ETF vibes, and hopeful whispers about crypto-friendly laws in the US (even if Congress is still kinda messy atm). 🤑(Despite the stumbles with lawmakers on these deets.)

Gold managed a lit 0.62% gain, probs because of fretful markets about Fed leadership and low-key inflation fears, spotted by the spike up (then down) during the US scene.

Meanwhile, the US 10-Year yield took a dive, down -0.62% during the U.S. scene, showing bond peeps were planning for less of a clampdown after dropping PPI vibes (when 0.2% was expected).

SP500 scored a lil’ bump of 0.42% most likely from Trump chillin’ on the Powell thing plus soft wholesale inflation giving the Fed breathing room for future rate thinking. 📈

The U.S. Dollar Index dipping by -0.34% was totally vibed by those fell yields and mallow inflation vibes, which traditionally cuts the crave for dollar-tied stuff.

Oil’s slip of -0.41% before the EIA info drop likely saw traders prepping for more oil stash. The bear mood faded fast after the EIA announced a 3.9M barrel withdrawal in stash, leading oil to gain back a lot but still ending the sesh down.

FX Moves: USD vs. The Rest:

Overlay of USD vs. Majors Chart by TradingView

Overlay of USD vs. Majors Chart by TradingView

The US dollar stayed barely moving through the Asia and London times, maybe 'cause traders were chillin’ after an intense Tuesday with the latest CPI reveals, waiting for U.S. PPI drops. 😬

Then boom, the real game started. June's producer price index decided to just vibe at 0 instead of the expected 0.2% jump, sending the dollar a bearish signal, giving more love to Treasuries and those yields dipping, with the 10-year sliding down to 4.462% and the two-year at 3.930%.

The dollar stumbled on the PPI flop, but bounced back before the stocks scene kicked off, with traders likely focusing on the previous day's strong CPI results.

But lol, USD bears got served when news reports appeared from a sneaky source that Trump was low-key considering axing Fed Chair Powell. 😱 This came out after a secretive session with Republican peeps on Tuesday, where Trump did a "should I ditch Powell?" poll with the GOP gang. This tanked the dollar and bonds as folks questioned Fed's freedom, crushing stocks while the 30-year yields shot over 5%.

Of course, the frosting on this wild cake was when Trump said, nah not really wanting to ax Powell. The USD bounced back on this but ended a lil’ lower against major currencies for the session.

What’s Next on the Econ Agenda?

  • NZ's Food Price Index for June 2025 hits at 10:45 pm GMT
  • Japan's Trade Balancing Act for June 2025 at 11:50 pm GMT
  • Australia's Consumer Inflation Guess for July 2025 at 1:00 am GMT
  • Australia Job Stats for June 2025 at 1:30 am GMT
    • Aussieland's Unemployment Rate for June 2025, also at 1:30 am GMT
  • Swiss Trading Balancing for June 2025 at 6:00 am GMT
  • The UK's Job Change report for May 2025 dropping at 6:00 am GMT
  • Eurozone's Consumer Price Index Growth Final for June 2025 at 9:00 am GMT
  • Canada CFIB Biz Barometer for July 2025 at 11:00 am GMT
  • Canada’s Foreign Securities Buy Up for May 2025 at 12:30 pm GMT
  • US's New Jobless Claims for the day of July 12, 2025 at 12:30 pm GMT
  • US Retail Scene for June 2025 at 12:30 pm GMT
  • US Import & Export Cash Flow for June 2025 at 12:30 pm GMT
  • US Philly Fed Manufacturing Index for July 2025 at 12:30 pm GMT
  • US NAHB Home Market Buzz for July 2025 at 2:00 pm GMT
  • US Fed Kugler Talk at 2:00 pm GMT
  • US Long-Term Tic Postings for May 2025 at 8:00 pm GMT
  • US Fed Book Balance for July 16, 2025 at 8:30 pm GMT
  • US Fed Waller Talk at 10:30 pm GMT
  • Japan's Inflation Rate Without Food and Energy for June 2025 at 11:30 pm GMT

Australia Jobs Update (1:30am GMT) has got all eyes on it for RBA vibes after that plot twist rate hold at 3.85%. If job numbers are vibe-worthy, could support a 'stay strong' mood from the central bank.

UK’s Job Deets seen in the midst of 🥶 recession worries post-May’s GDP neckerchief and bets that BOE might cut rates in August. More jobz snooze could embolden those dovish vibes.

US Jobless Claims expected to keep flexing as the job market stays a fortress, past number was 227k against a 245k forecast. Ongoing job power would back the Fed’s cautious footwork on rate cuts amid tariff-driven inflation tingles.

Stay woke & always peep our Forex Correlation Calculator before trading your dollars! 💰✨