USD finds support amid trade deal hopes – BBH

FXStreet Insights Team FXStreet

USD bounces after a string of losses, the MSCI All Country World Index surged to a record high, and global bond yields are drifting higher, BBH's FX analysts report.

Global stocks hit record as tariff talks advance

"Trade deal optimism has turbocharged risk assets. Yesterday, the media reported the US was closing in on an agreement with the EU that would set a 15% tariff for most products. This would be down from the threatened 30% levy if both sides fail to reach an agreement by August 1."

"USD can find additional near-term support if the US July S&P Global PMI points to faster private sector growth momentum (9:45am New York, 2:45pm London). The composite PMI is projected at 52.8 vs. 52.9 in June, services is expected at 53.0 vs. 52.9 in June, and manufacturing is seen at 52.7 vs. 52.9 in June. Nonetheless, the year-to-date USD downtrend is intact in our view."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD gains ground for the second successive session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator stands at 51 (neutral) after recovering above the midline, indicating stabilizing momentum.

GBP/USD gathers strength above 1.3500 amid tariff confusion

The GBP/USD pair gains traction to around 1.3520 during the early Asian session on Monday. The US Dollar faces some selling pressure against the Cable as tariff uncertainty lingers. Traders will take more cues from the US Producer Price Index report for January, which will be published later on Friday.

Gold climbs to fresh monthly high on trade war fears, geopolitical risks, weaker USD

Gold registered its highest-ever weekly close, above the $5,100 mark on Friday, and gains strong follow-through traction at the start of a new week. This also marks the fourth straight day of a positive move and lifts the commodity beyond the $5,150 level, or a fresh monthly peak, during the Asian session.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Liberation day take two, the tariff machine just changed gears

Let me caveat this from the outset. What we are watching is first-order mechanics, not the grand macro endgame. This is the market’s immediate reflex to a 15% Trump tariff levy dressed up as judicial drama. The Supreme Court blocked Trump tarrif hammer. The White House came back with a scalpel.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.