This article has been translated from English to Gen Z Slang.
Markets are back on their vibe check after last Friday's NFP chaos. U.S. stocks did a whole #GlowUp, moving into the green, as peeps look out for cheaper moolah for borrowing. 📈
But yo, global trade drama ain't taking a nap just yet, with Trump planning to stack some tariffs on India like it’s Jenga. This drama's got gold chilling in safekeeping mode. 💰
Here are some headlines you might have just scrolled past while you were living your best life! ✨
Headlines:
- So, over the weekend, OPEC+ was like, "Let’s crank up the oil machine" and decided to pour out 548K barrels extra per day come September. ⛽️
- Also on the weekend vibes, Fed big shot Williams was super chill about maybe cutting rates in September. 🏦
- On Sunday, Trump was all like, "Steve Witkoff, pack your bags, you’re off to Russia next week," since geopolitics are more tangled than my earbuds. 🎧
- Japan’s trade guru, Ryosei Akazawa, spilling the tea that the U.S.-Japan trade deal ain’t really 'official' official like that. 📝
- The Japanese Nikkei was super dramatic, posting its biggest flop in four months as bond yields hit snooze before a 10-year auction. 📉
- Australia's TD-MI Inflation Gauge for July 2025 pulled a surprise 0.9% when everyone was expecting crumbs at 0.2%. 😲
- Swiss inflation? Flat AF. Zero percent change in July 2025. But hey, YoY inflation jumped up to 0.2% from 0.1%. 🎢
- Swiss manufacturing PMI slipped to 48.8, which is not ideal since everyone was expecting a cool 50.0. 😬
- The Swiss government was super chill about not clapping back at the U.S. despite those fresh tariff stacks. 🤷♂️
- U.S. car sales in July 2025 slid in with 16.4M, stepping up from the expected 15.9M. 🚗
- U.S. Factory Orders nosedived by 4.8% in June 2025, but ex-transport, it actually rose 0.4%. 📊
- Trump spilled on plans to level up tariffs on India 'cause they're buying loads of Russian oil. 🤦♂️
- The CFTC just made it rain crypto possibilities by allowing spot crypto asset contracts trading on futures exchanges. 🔥
- Fed's Daly out here suggesting two rate cuts might just be the vibe for this year. ⚡️
- Australia's S&P Global Services PMI had a glow up to 54.1 for July 2025. 🌟
- Australia S&P Global Composite PMI wrapped up at a solid 53.8 for July 2025. 💪
- The BoJ is still on its policy grind and plans to keep things tight if those price forecasts come through as planned. 💼
Broad Market Price Action:
Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay Chart by TradingView
A chill kinda Monday welcomed the crew after Friday’s stormy scenes as risk assets started flexing during the Asian sesh, thanks to some weekend tea. ☀️
WTI crude oil started the day lower because OPEC+ news and Trump’s Russia envoy deets hit like a stormy rainbow. 🌈
Gold felt the blues in the morning when the market acted like it was going to ease up Fed rates. But yo, as Trump started barking about tariffs on India, gold got its glow back. ✨
But for real, U.S. equity indices did a raging comeback after Friday’s drama since cheaper borrowing vibes looked like a shopping spree for the future. 🛍️
Bitcoin found its bounce back thanks to the CFTC throwing a new party option for crypto traders. 🚀
FX Market Behavior: U.S. Dollar vs. Majors:
Overlay of USD vs. Majors Chart by TradingView
The Greenback kicked off the Asian sesh flexin’ in the green, probably cashing in from its earlier falls, but didn't stay in that winner's circle long when peeps started thinking about the Fed easing in September. 🤔
Fed guy Williams was all "idk" but super open to cutting rates for sure during the next Fed turn-up, especially if jobs aren't breaking records. USD/JPY twirled upwards when Japanese bonds and Nikkei had their flop era. 📉
USD/CHF climbed too during the London wake-up call, as Switzerland's CPI was DOA and manufacturing went boo, dropping to 48.8. The euro was not vibing because Sentix investor confidence crashed from 4.5 to -3.7. 😞
But watch out as USD tried to clap back leading into the New York grind session, with a factory orders report serving close to the preview party's expectations. USD did some lifting, holding against most except the cool children like JPY and oil-loving CAD when Trump had another tariff tantrum with India. 🌍
Upcoming Potential Catalysts on the Economic Calendar
- France Industrial Production arriving at 6:45 am GMT ⏰
- France HCOB Services PMI Final dropping at 7:50 am GMT
- France HCOB Composite PMI Final making an appearance at 7:50 am GMT
- Germany HCOB Services PMI Final happening at 7:55 am GMT
- Germany HCOB Composite PMI Final showing up at 7:55 am GMT
- Euro area HCOB Composite PMI Final rolling out at 8:00 am GMT
- Euro area HCOB Services PMI Final landing at 8:00 am GMT
- U.K. New Car Sales YoY driving in at 8:00 am GMT 🚗
- U.K. S&P Global Services PMI Final at 8:30 am GMT
- U.K. S&P Global Composite PMI Final at 8:30 am GMT
- Euro area PPI at 9:00 am GMT
- New Zealand Global Dairy Trade Auction on the horizon 🧀
- Canada Balance of Trade at 12:30 pm GMT
- U.S. Balance of Trade at 12:30 pm GMT
- U.S. S&P Global Services PMI Final at 1:45 pm GMT
- U.S. S&P Global Composite PMI Final at 1:45 pm GMT
- U.S. ISM Services PMI at 2:00 pm GMT
- U.S. RCM/TIPP Economic Optimism Index peeking out at 2:10 pm GMT
- U.S. API Crude Oil Stock Change at 8:30 pm GMT
- New Zealand Employment Change at 10:45 pm GMT
NGL, the data gig ain’t bustling during Asian and London shifts, except the eurozone PPI numbers, so FX traders might need to chill till the tea from Canada and U.S. trade balance drips during NY hours. ☕️
The ISM services PMI might be worth eye-balling, but don’t expect a dollar drama finale; NFP digits already had their moment. Hold up though, NZD pairs are prepped for some possible fireworks with New Zealand’s quarterly jobs report coming through next. 🔥
Don’t sleep on being flexible and keep tabs with our Forex Correlation Calculator when picking those plays! 🎮
