This article has been translated from English to Gen Z Slang.
So like, after taking a mini break, the U.S. dollar had another bummer day 😬, still in the red zone, while everyone’s all stressed out about the August 1 tariffs deadline coming up. 📉
President Trump saying rate cuts could be a vibe didn’t help either, especially since he's hinting Powell “will be out soon.” 👀
Here’s what hit the feeds while you were catching Z’s in the last trading sessions! 😴📲
Headlines:
- New Zealand's trade surplus went from 1,082M NZD to just 142M NZD in June (people expected 1,020M NZD)
- RBA Vibes: More rate cuts are a go over time, but the timing’s still up for debate 😅
- Mr. Trump throwing hands again, saying they'll hit Iran if needed, cause of some nuclear tea 🍵
- BOE's Bailey: U.K.'s yield curve's lookin' real sus ‘bout trade policy uncertainty 👀
- No chill U.S.-India trade deal happs, 26% tariffs are totally looming by Aug 1 😟
- U.K.'s June 2025 Borrowing Without Banks hit -20.68B (-16.2B forecasted; was -17.69B 🤑)
- Powell's out here saying the central bank’s flexibly groovy, taking feedback like a pro but not spilling on economy deets 🚫
- U.S. Richmond Fed’s July 2025 Manufacturing Index served -20.0 (-2.0 was the dream; -7.0 prior)
- Richmond Fed Manufacturing Shipments Index hit -18.0 (-1.0 dreams; -3.0 before)
- Richmond Fed Services Revenues Index got a 2.0 (surpassed the 1.0 mood; -4.0 past) 😂
- Fed’s Bowman assured us the bank's doing its own thing with monetary policy, cool and independent 💪
- Trump’s all “Powell’s gonzo soon” and thinks rates should chill at 1%
- Bessent’s squad called for an inner audit of the Fed. 🔍
Broad Market Price Action:
Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay Chart by TradingView
Markets started wildin' from the jump, with each asset doing its own thing rather than vibing on the overall mood. 🎢
Crude oil was on a high earlier, maybe coz Trump’s beefing with Iran again. But then it dipped 😂 'cause everyone's anxious about the looming trade tea. 😓
Gold was kinda pulling a disappearing act in Asia but did a 180 during London hours as everyone started rushing to safe-haven stuff after the U.S.-India deal tea got ruled out. ☕️💰
Stocks were feeling wobbly too, Nasdaq’s six-day streak got ended, dropping 0.39%, while S&P 500 squeezed out a tiny 0.06% win. Bonds fell hard when Trump started talking of booting Powell and wanting super low rates. 📉
FX Vibes: U.S. Dollar vs. the Squad:
Overlay of USD vs. Majors Chart by TradingView
The Greenback was doing the sell thing yesterday but tried to chill a bit during Asian hours. NZD took more L’s with a weak trade balance, and AUD dipped after RBA’s notes said easing’s likely in the cards. 📉
The dollar’s bounce was shut down when Europe opened and BOE’s Bailey said shorting USD is the “most crowded trade” out there, with U.K. yields rising over some trade policy drama. 🙄
Then, BAM, more dollar dropz when the U.S. Richmond manufacturing numbers flopped. Trump thinks borrowing costs should be dropping big time, talking 1%. Treasury Secretary Bessent even called dibs on a Fed investigation, realsies! 🔎
By the end of the day, USD was pretty much a no-show all week, as the “Sell America” feels are heating up with the August 1 tariff drama, turning up the pressure on the Fed to chill rates. 😕
Upcoming Moves to Watch on the Economic Radar
- U.S. MBA Mortgage Apps at 11:00 am GMT
- Canada's New Housing Price Index at 12:30 pm GMT 🏡
- Euro Area Consumer Confidence Flash at 2:00 pm GMT
- U.S. Existing Home Sales at 2:00 pm GMT
- U.S. EIA Crude Oil Stocks Change at 2:30 pm GMT
- Australia S&P Global Services PMI Flash at 11:00 pm GMT
- Australia S&P Global Manufacturing PMI Flash at 11:00 pm GMT
Not a whole lot of major game changers today, so peeps are watching the tariff saga and U.S. trade deal moves. Keep your eyes peeled for any sign of progress that might get risk-takers stoked, or any turndowns that might got everybody stressing. 🙃
Stay on your toes and don’t sleep on checking out our Forex Correlation Calculator when making any trades! 🎯
