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Weekly Forecast

EUR/USD: ECB decision unlikely to rescue the Euro

The EUR/USD pair has shown little progress over the last few days, seesawing around the 1.1450 mark throughout the week to finish a handful of pips below the level. Mounting tensions in the Middle East pushed investors into cautious mode despite temporary relief from macro data.

Gold: Bearish pressure builds up as Middle East tensions offset USD weakness

Gold (XAU/USD) struggled to benefit from the broad-based selling pressure surrounding the US Dollar (USD) as tensions in the Middle East escalated further. The preliminary July Purchasing Managers’ Index (PMI) from the United States (US) will be the only data release that has the potential to trigger a market reaction next week.

British Pound slips for second straight day as Oil spike revives inflation fears

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.

Forecasting the coming week: ECB decision, UK inflation, and global PMIs to drive markets

The upcoming week will be dominated by the European Central Bank’s (ECB) interest rate decision, United Kingdom (UK) inflation and labor market figures, and preliminary global Purchasing Managers Index (PMI) data. Australian employment, New Zealand inflation and Canadian CPI figures will also attract attention.

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In-Depth Analysis

-0.4%: Why the biggest CPI drop since 2020 couldn't buy back a single cut

The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.