This article has been translated from English to Gen Z Slang.
Dolla bears went wild all day long like it was a party, while risk assets were doing the cha-cha, waiting for that August 1 tariffs tea to spill. 😎
Check out these fire headlines you may have missed in the last trading seshes! 🤙
Headlines:
- Japan’s Upper House elections went down and resulted in the ruling squad losing their majority 📉
- New Zealand Inflation Rate was a bit of a letdown for Q2 2025: 0.5% q/q (0.3% q/q forecast; 0.9% q/q previous); 2.7% y/y (2.1% y/y forecast; 2.5% y/y previous) 📉
- U.S. Treasury Secretary Bessent dropped the mic saying it’s lit quality trade deals that matter, not just the clock⏰
- Canada PPI for June 2025: 1.7% y/y (2.5% y/y forecast; 1.2% y/y previous); 0.4% m/m (0.3% m/m forecast; -0.5% m/m previous) 📈
- Canada Raw Materials Prices for June 2025: 2.7% m/m (0.8% m/m forecast; -0.4% m/m previous); 1.1% y/y (-2.0% y/y forecast; -2.8% y/y previous) 📈
- U.S. CB Leading Index MoM for June 2025: -0.3% (-0.1% forecast; -0.1% previous) 📉
- BOC Survey: Tariffs and trade uncertainty got businesses feeling extra today 😟
Broad Market Price Action:
Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay Chart by TradingView
Risk assets felt stuck in a vibe check since there weren’t any bombshell reports to send them wildin’. Some low-key positive energy came from U.S. Treasury Secretary Bessent saying that August 1 deadline might chillax, prioritizing quality trades over time. ⏳💼
WTI crude oil was flexing earlier on, keeping the gains during the Asian sesh before slowly sliding for the rest of the day. Gold grabbed some clout, warming up in the a.m. before skyrocketing due to USD taking an L and yields dipping. 🌟💰
Meanwhile, European stocks were having a shaky time while peeps were getting restless about no news in the EU-US trade chats, but U.S. stocks totally had a glow up with Nasdaq and S&P 500 breaking records thanks to tech optimism high-key spreading. 🚀📈
FX Market Behavior: U.S. Dollar vs. Majors:
Overlay of USD vs. Majors Chart by TradingView
Most dollar pairs chilled in tight zones during the Asian sesh, except for USD/JPY which took a dive after Japan's elections shook up their power scene, and NZD/USD slipped because of some weak-sauce CPI numbers. 💥
Soon enough, these pairs joined the dollar squad in turning down for what during the Euro and U.S. seshes as markets started getting ready for the possibility of that August 1 tariff tea spilling later. 📉🍵
The dollar took a hit across the board, dropping the hardest against the yen, which was like "political chaos? no biggie," while holding its ground against some commodity currencies. 💪💸
Upcoming Potential Catalysts on the Economic Calendar
- U.K. Public Sector Net Borrowing Ex Banks at 6:00 am GMT
- Euro zone ECB Bank Lending Survey at 8:00 am GMT
- U.S. Fed Chair Powell Speech at 12:30 pm GMT
- U.S. Richmond Fed Manufacturing Index at 2:00 pm GMT
- Euro zone ECB President Lagarde Speech at 5:00 pm GMT
- U.S. Money Supply at 5:00 pm GMT
- U.S. Fed Bowman Speech at 5:00 pm GMT
- U.S. API Crude Oil Stock Change at 8:30 pm GMT
We might get some USD vibes shifting as Fed Chairperson Powell is about to spill the tea in a testimony sesh, followed by Bowman dropping some knowledge later in NYC. 👀🗣️ And keep an eye on ECB head Lagarde too, she might dish out some juicy trade insights.
As always, stay woke and keep it Gucci! Be sure to peep our Forex Correlation Calculator for any trade glow-ups! 🙌💹
