Major US indices were mixed following a more hawkish than expected Fed statement this week. Nasdaq brushed off the Fed hawkishness relatively fast. Gold didn’t.

Lordstown on the other hand fell again on news that there are no binding orders and could be on its way to become a new Theranos.

Else, the market has a deeper exposure to meme stocks than you think as many popular ETFs have GameStop, AMC, and other meme stocks in their portfolio.

And Bitcoin’s latest positive push remained short of the 200-day moving average resistance. What’s next for Bitcoin?

 

This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.

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EUR/USD trims early gains, trades around 1.1860

EUR/USD retreated from daily highs reached after the release of upwardly revised EU final PMIs. The US dollar founds some demand on a denting market's mood. US ISM Manufacturing PMI unexpectedly dropped to 59.5.

EUR/USD News

GBP/USD struggling sub-1.3900 amid a sour market's mood

UK Marking Manufacturing PMI improved to 60.4 in July. Tensions related to the Northern Ireland Protocol undermine the pound’s demand. GBP/USD is at risk of falling in the near-term, mainly once below 1.3865.

GBP/USD News

Gold: Risk-on and record low real yields underpins the yellow metal start of week

Just ahead of the closing bell on Wall Street, XAU/USD is trading at $1,816.00 and higher by 0.1% after travelling from a low of $1,805.87 to a high of $1,819.56. 

Gold News

BTC and XRP correct in time versus price as ETH remains unstoppable

Bitcoin ends three-month decline with a compelling 18.35% gain in July while ETH is working on a historic 13 consecutive up days. XRP closed last week with the best weekly return since the end of April.

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Looking ahead to payrolls as markets bounce on China / US truce

Equity markets have started the week on an upbeat note, after a bumper round of earnings reports in recent sessions have helped to boost sentiment. 

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