EUR/USD sinks to multi-week lows near 1.1620
The increasing demand for the US Dollar is increasing, bringing the US Dollar Index (DXY) to new highs and pulling EUR/USD to three-week lows near 1.1620, opening the door to a potential test of the 1.1600 support. The solid US CPI figure maintained the Fed's cautious narrative, giving the Greenback more traction to the disadvantage of risk assets.
GBP/USD breaks below 1.3400 to flirt with four-week troughs
The Sterling’s downward trajectory continues unabated. That said, GBP/USD breaches below the key 1.3400 support and trades at shouting distance from four-week lows on Tuesday as sentiment towards the Greenback strengthens. Later in the day, investors are expected to follow Governor Bailey's and Chancellor Reeves speeches at the Mansion House.
Gold regains balance near $3,350
Gold prices manage to revert the initial pullback to the vicinity of the $3,330 zone per troy ounce, regaining some composure and returning to the $3,350 area amid acceptable gains, a stronger US Dollar and a solid performance of US yields.
Pi Network Price Forecast: PI test crucial support level amid bullish RSI divergence
Pi Network edges lower by 2% at press time on Tuesday, failing to join the bandwagon of altcoins fueled by Bitcoin reaching record high levels. The increasing supply pressure on Centralized Exchanges and the token unlocks fuel the declining trend in PI token, resulting in a retest of the $0.4460 support level.
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French economy under significant strain with no signs of recovery
French industrial production fell again in May, reinforcing the likelihood of a contraction in GDP in the second quarter. The outlook for the rest of the year remains bleak.
Will a strong Franc prompt the SNB to intervene?
Swiss franc outperforms other majors in H1 2025. Is it time for the SNB to resume intervention? US tariffs could also impact the SNB’s policy strategy. Euro/Franc trades in a range, slightly above its record low.
CRYPTOCURRENCIES
Pi Network Price Forecast: PI holds a crucial support level amid rising selling pressure
Pi edges lower to retest a crucial support level as it decouples from the broader market recovery. PI token unlocks and increasing balance on CEXs boost selling pressure.
Dogecoin, Shiba Inu face profit-taking risk as Bitcoin's rally takes a breather
Dogecoin and Shiba Inu are frontlining meme coins losses on Tuesday, following a strong uptrend the previous day. The surge in the prices of DOGE, SHIB and other crypto assets followed in the footsteps of Bitcoin, which hit a new record high of $123,218 on Monday.
Meme Coins Price Prediction: Solana-based BONK, PENGU, WIF could lead the next market bull run
Bonk’s breakout rally gains traction, printing its fourth consecutive bullish candle. Pudgy Penguins' steadies amid the announcement of the upcoming launch of a multiplayer game, eyes further gains.
STOCKS
US equity futures advance after CPI shows rising inflation Premium
June CPI shows inflation rising off May's lows. US equity futures rise as CPI inflation bleeds into share prices. Headline CPI for June jumps from 2.4% to 2.7%. Banks mostly exceed earnings expectations, but Wells Fargo cuts guidance.
BlackRock (BLK) Q2 earnings top estimates
BlackRock came out with quarterly earnings of $12.05 per share, beating the Zacks Consensus Estimate of $10.71 per share. This compares to earnings of $10.36 per share a year ago. These figures are adjusted for non-recurring items.
WEEKLY FORECAST
EUR/USD: US President Trump’s rage unleashes risk aversion Premium
The EUR/USD pair edged lower in the past week, settling a handful of pips below the 1.1700 mark, further retreating from the multi-year peak posted early in July at 1.1830. Financial markets kept revolving around the United States (US) President Donald Trump's targets.
GBP/USD appears at critical juncture heading into the inflation week Premium
The Pound Sterling (GBP) entered a consolidative phase against the US Dollar (USD), following the recent GBP/USD correction from near four-year highs of 1.3789.
Gold: Bears hesitate as markets turn cautious on US tariff uncertainty Premium
Gold (XAU/USD) regained its traction following a bearish action seen earlier in the week and stabilized above $3,300. June inflation data from the US and fresh developments surrounding the United States’ (US) trade relations could drive XAU/USD’s action in the near term.
Bitcoin: BTC hits new all-time high and enters price discovery mode
Bitcoin price prints a new all-time high near $118,900 on Friday, entering uncharted territory as bullish momentum accelerates. The surge in BTC was supported by rising corporate and institutional demand, with spot Bitcoin ETFs recording a total of $1.69 billion this week as of Thursday.
US Dollar: Have we reached the bottom yet? Premium
Came July, the US Dollar (USD) saw a resurgence of buying pressure, helping the US Dollar Index (DXY) stage a meaningful rebound from multi-year troughs in the 96.40-96.30 band to levels near the key 98.00 barrier.
Week ahead – A storm of CPI data and China’s GDP in focus amid trade uncertainty
Dollar attracts safe haven flows amid trade anxiety. US inflation data could shake July Fed cut probability. UK, Canadian and Japanese CPI numbers also on tap. Weak Chinese growth may increase calls for more stimulus.
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