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💵 The U.S. dollar is retreating after weaker-than-expected employment and manufacturing data reduced expectations for additional Federal Reserve rate hikes in 2026. Markets are increasingly focusing on easing inflation, allowing major currencies to recover against the greenback.
📊 Stock indices are taking a breather after a strong rally as investors rotate away from technology shares toward more economically sensitive sectors. While concerns remain over AI valuations, elevated bond yields and geopolitical risks, seasonal trends continue to support Wall Street, with July historically one of the strongest months for the S&P 500.
🪙 Gold remains under pressure after its weakest quarter since 2013, but long-term sentiment is still improving. Central banks continue to increase their gold holdings, with many expecting prices to climb toward $5,000 to $6,000 per ounce over the next year despite recent volatility.
â‚¿ Bitcoin has fallen to a 21-month low as record ETF outflows, changing strategy at major crypto investment firms and growing competition from tokenised assets weigh heavily on investor confidence. Markets are increasingly questioning whether institutional demand can recover anytime soon.
📊 With ISM Services PMI, the US trade balance, Canadian employment data, ECB meeting minutes and the Reserve Bank of New Zealand all due next week, could fresh economic data determine the next move for global markets?
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