Trump: Strong Dollar Sounds Good But 'you Make A Hell Of A Lot More' With A Weaker One

Economic

Summary:

U.S. President Donald Trump said on Friday he liked a strong dollar but "you make a hell of a lot more money" with a weaker one.

"So when we have a strong dollar, one thing happens: It sounds good. But you don't do any tourism. You can't sell tractors, you can't sell trucks, you can't sell anything," Trump said at the White House before leaving on a trip to Scotland.

"It is good for inflation, that's about it."

The dollar index (.DXY), opens new tab, which measures the greenback's strength against six major currencies, steadied on Friday after hitting two-week lows earlier in the week. It is still down roughly 10% over the six months Trump has been in office.

Trump has often complained that dollar strength blunts U.S. export competitiveness and hurts U.S. manufacturing and jobs.

Trump told reporters on Friday that manufacturers would be the first to benefit from a falling dollar, citing construction and mining equipment maker Caterpillar (CAT.N), opens new tab, whose shares have risen 16% over the last month.

Japan and China fought for weaker currencies for decades and were able to dominate markets over the years, Trump said.

"Now it doesn't sound good, but you make a hell of a lot more money with a weaker dollar - not a weak dollar but a weaker dollar - than you do with a strong dollar," he said.

At the same time he acknowledged that pushing for a weaker dollar wasn't a good look, saying a strong dollar is good psychologically.

"It makes you feel good," he said. "I love strong dollars."

Source: Reuters

To stay updated on all economic events of today, please check out our Economic calendar

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Adam

Commodity

An OPEC+ panel is unlikely to alter existing plans to raise oil output when it meets on Monday, four OPEC+ delegates said, noting the producer group is keen to recover market share while summer demand is helping to absorb the extra barrels.

The meeting of the Joint Ministerial Monitoring Committee (JMMC), which includes top ministers from the Organization of the Petroleum Exporting Countries and allies led by Russia, is scheduled for 1200 GMT on Monday.

Four OPEC+ sources told Reuters the meeting is unlikely to alter the group's existing policy, which calls for eight members to raise output by 548,000 barrels per day in August. Another source said it was too early to say.

OPEC and the Saudi government communications office did not respond to a request for comment.

OPEC+, which pumps about half of the world's oil, has been curtailing production for several years to support the market. But it reversed course this year to regain market share, and as U.S. President Donald Trump demanded OPEC pump more to help keep a lid on gasoline prices.

The eight OPEC+ producers hold a separate meeting on August 3 and remain likely to agree to a further 548,000 bpd increase for September, three of the sources said, as reported by Reuters earlier this month.

This would mean that, by September, OPEC+ will have unwound their most recent production cut of 2.2 million bpd, and the United Arab Emirates will have delivered a 300,000 bpd quota increase ahead of schedule.

The JMMC meets every two months and can recommend changes to OPEC+ output policy.

Oil prices have remained supported despite the OPEC+ increases thanks to summer demand and the fact that some members have not raised production as much as the headline quota hikes have called for. Brent crude was trading close to $70 a barrel on Friday.

Source:Reuters

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Adam

Stocks

S&P 500 Extends Weekly Gains as Traders Eye Earnings Strength and Trade Hopes

Daily E-mini S&P 500 Index

The S&P 500 added 0.3% mid-session Friday, set to notch its fourth straight weekly gain, bolstered by upbeat corporate earnings and cautious optimism surrounding global trade talks. The Nasdaq also rose 0.3%, while the Dow Jones Industrial Average advanced 92 points, or 0.2%.

Week-to-date, the S&P 500 is up about 1.2%, slightly outperforming the Dow and Nasdaq, both tracking 1% higher.

Are Sector Leaders Signaling Broader Market Strength?

Consumer Discretionary led gains, climbing 0.62% as traders rotated back into growth names.

Financials and Industrials each gained around 0.5%, showing resilience despite rate uncertainty.

Technology rose 0.25%, lifted modestly after Thursday’s pullback in megacaps.

Health Care, Materials, and Utilities saw mild advances under 0.3%, while Communication Services was flat.

Defensive groups lagged, with Consumer Staples dipping 0.1% and Real Estate falling 0.32%.

Energy dropped 0.6% as oil prices eased after a strong run earlier in the week.

Which Stocks Are Fueling the S&P 500’s Momentum?

Daily Newmont Corporation

Deckers Outdoor Corp surged over 12% following strong earnings, while Newmont Corporation jumped 6.5% on firmer gold prices and mining optimism. VeriSign and Aon also posted gains above 5%.

Health care names like Edwards Lifesciences, Molina, and Elevance rose more than 3.5% as investors revisited managed care stocks.

GE Vernova advanced nearly 4%, helping power Industrials higher.

S&P500 Today: Consumer Discretionary and Financials Push US Stocks Toward Weekly Win_3

Daily Charter Communications, Inc.

On the downside, Charter Communications sank 16.6% following a disappointing outlook.

Intel dropped over 9% after poor earnings, dragging semis. Comcast slid more than 5%, and West Pharmaceutical fell 4.3%.

Other notable decliners included Textron, Bristol-Myers, and IQVIA, each shedding over 2.5%.

What’s Driving Sentiment Outside the Earnings Stream?

Traders also parsed comments from President Trump, who placed odds of a trade agreement with the EU at 50% and just 25% with Japan. The remarks, while cautious, offered hope for tariff relief and renewed demand.

Meanwhile, crypto markets saw diverging flows—Bitcoin ETFs faced their first weekly outflows since early June, while Ether ETFs drew in over $1.3 billion this week, reflecting shifting sentiment in digital assets.

What’s Next for Markets into Next Week?

With earnings season peaking and the S&P 500 eyeing fresh highs, attention turns to the Federal Reserve’s upcoming policy meeting and key inflation data.

Traders will look for signs of a potential rate pause or pivot. Short-term, momentum favors risk assets, but upside may hinge on how tech names rebound after this week’s mixed performance.

Source: fxempire

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Thomas

Economic

The European Union and the United States might reach a framework trade deal this weekend that would end months of uncertainty for European industry, according to a report from Reuters, citing EU officials and diplomats on Friday.

The potential agreement would likely include a 15% baseline tariff on all EU goods entering the United States, with European steel and aluminum facing a probable 50% tariff, these sources said.

U.S. President Donald Trump expressed caution about the prospects, stating on Friday that there was a "50-50 chance or perhaps less" of reaching a trade agreement with the European Union. He added that Brussels wanted to "make a deal very badly."

One source indicated that a weekend deal appeared likely as the "agreement is basically in the hands of Trump now."

There might also be a high-level meeting to finalize terms, as a source familiar with the negotiations mentioned there was a "good chance" European Commission President Ursula von der Leyen would meet Trump in Scotland over the weekend.

A spokesperson for the European Commission did not respond to multiple requests for comment regarding a possible meeting between the leaders.

Source: Yahoo Finance

To stay updated on all economic events of today, please check out our Economic calendar

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Daniel Carter

Political

European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as the two sides aim to conclude a trade deal ahead of an Aug. 1 deadline when 30% tariffs on the bloc's exports are otherwise due to kick in.

After months of talks and shuttle diplomacy between Brussels and Washington DC, the two sides have been zeroing in on an agreement this past week that would see the EU face 15% tariffs on most of its trade. Limited exemptions are expected for aviation, some medical devices and generic medicines, several spirits, and a specific set of manufacturing equipment that the US needs, Bloomberg previously reported.

Steel and aluminum imports would likely benefit from a quota under the arrangements under discussion but above that threshold they would face a higher tariff of 50%.

Earlier on Friday, Trump said there was a 50:50 chance of a deal with the EU.

Trump announced tariffs on almost all US trading partners in April, declaring his intent to bring back domestic manufacturing, to pay for a massive tax-cut extension and to stop the rest of the world from taking advantage of the US. He has also sought to remove what he describes as barriers for American companies to do business around the world.

Alongside a universal levy, the US president has hit cars and auto parts with a 25% levy, and steel and aluminum with double that. He's also threatened to target pharmaceuticals and semiconductors with new duties as early as next month, and recently announced a 50% tariff on copper.

The EU has been seeking quotas and a ceiling on future sectoral tariffs that the US has yet to implement but it's unclear if an initial agreement will shield the bloc from potential future levies at this stage.

The agreement would also cover non-tariff barriers, cooperation on economic security matters and strategic purchases by the EU in sectors such as energy and artificial intelligence.

Source: Bloomberg Europe

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Thomas

Cryptocurrency

Ethereum price is once again in the spotlight. Not just because of its price action, but because institutional investors are finally showing their cards. The U.S. spot Ethereum ETFs have started pulling serious weight, and the charts are responding. So, what's the Ethereum price prediction?

Ethereum Price Prediction: Why is Ethereum Price Heating Up?

ETH/USD Daily Chart- TradingView

Let’s look at the chart first. ETH price has been on a sharp uptrend since late June. The Heikin Ashi candles are clean, consecutive, and mostly bullish green. More importantly, the Ethereum price has stayed consistently above the mid-Bollinger Band, a sign of strong momentum. ETH price recently touched the upper Bollinger Band near $3750 and has since pulled back slightly to around $3660, suggesting a cooling phase after an overextended rally.

But here's the thing. This isn't just a random move. Ethereum price cracked through key resistance levels like $3200 and $3400 with barely any hesitation. Pivot points show ETH is currently consolidating just under the R3 level. That’s usually the area where smart money decides whether to book profits or push for a breakout.

If ETH price stays above the $3550 support, we could see a clean push toward $3900 and possibly $4200 in the coming weeks. On the downside, a drop below $3400 would indicate the bulls are exhausted, and a retest of the $3200 region could follow.

Are Ethereum ETFs Driving This Surge?

Total ETH ETF Inflow: Image Source: SoSoValue

Absolutely. The ETH ETF narrative is no longer speculative. It is here, and the numbers tell the story.

As of July 24, the cumulative net inflow into Ethereum spot ETFs has reached $8.88 billion. Just on that day, inflows totaled over $231 million. That is not retail money. This is institutional conviction, and it is spreading fast. The ETFs now hold over $20.7 billion worth of ETH, which accounts for nearly 5 percent of Ethereum's total market cap.

That kind of buy pressure does not just prop up the price. It changes the entire market structure. Fewer coins are in circulation. Volatility tightens. And demand starts to outpace supply.

The impact is already visible. ETH’s daily volume spiked past $2.1 billion in ETF trades alone. That sort of liquidity injection builds a foundation for long-term price appreciation and stability.

Ethereum ETFs are injecting real momentum into the market. With over $8.8 billion in cumulative inflows and $231 million added in a single day, institutional interest is no longer theory it’s visible demand.

These ETFs are soaking up circulating supply, which naturally puts upward pressure on price. It also brings more stability and legitimacy to ETH, making it attractive not just to traders, but to long-term asset managers who previously avoided crypto due to regulatory uncertainty.

This kind of sustained inflow shifts ETH from a speculative asset to a portfolio staple. If the current trend holds, the ETF-driven demand could create a new price floor around $3600 to $3700. From there, a break past $4000 is likely, especially if daily inflows continue above $200 million. The more capital that flows into ETFs, the stronger the buying wall becomes, setting up Ethereum for a breakout rally toward $4200 or even higher in Q3.

What’s the Ethereum Price Prediction?

If this ETF momentum continues, ETH price does not just have a shot at reclaiming $4000. It could create a new price floor there. Based on the current chart setup, a push toward $4200 is technically valid, especially if ETF inflows stay above the $200 million daily average. That level aligns with extended Bollinger projections and Fibonacci targets from the last swing low in early July.

But don’t ignore short-term corrections. If ETF hype cools temporarily, Ethereum price could retrace to the $3200 zone before resuming upward.

Ethereum price is no longer trading just on sentiment or tech upgrades. It is now backed by serious capital through regulated ETFs. That changes the game. The charts are bullish, but the inflow numbers are what really validate this trend. As long as those numbers keep climbing, the road to $4000 and beyond is wide open.

Source: CryptoSlate

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Samantha Luan

Economic

Stocks

Forex

Key points:

● Turkey's lira set for best day since June 2024

● Senegal's dollar bonds gain on IMF programme hopes

● Turkey, Kenya, Bulgaria ratings to be reviewed

● MSCI EM FX, stocks indexes set for weekly gains

MSCI's index tracking global EM currencies was down 0.3%, as most Asian currencies depreciated against the dollar. The index, however, was set to log weekly gains after two weeks of losses.

This week, markets took on more risk after the U.S. signed a trade deal with Japan and signalled that more agreements were in the works, reviving some hopes that the worst tariff impacts could be avoided.However, investors were cautious with risk assets in order to brave the upcoming week, which will feature U.S. jobs data, a meeting of the Federal Reserve and Trump's August 1 tariff deadline.

On the day, South Africa's randfell 0.7%. Most emerging European currencies were subdued against the euro."We would expect market swings to be temporary ... trade negotiations will ultimately lead to moderate policy, but we expect a tariff-led economic slowdown to be mild and short-lived, rather than recessionary," said Mark Haefele, chief investment officer at UBS Global Wealth Management.

Turkey's lirawas 0.7% higher against the greenback, a day after its central bank delivered a surprise 300 basis point interest rate cut. The currency eyed its biggest one-day gain since June 2024.Worries over the independence of the Fed also remained, with Trump's calls for lower interest rates persistent despite his reiterating he was not planning to fire the Fed chair.Haefele said these fears, along with lower interest rates could continue to impact the dollar, and investors could look to reduce their holdings.

Russia's roublewas down 0.4% against the greenback, over-the-counter-market data showed, ahead of a central bank decision where it is expected to cut rates by 200 basis points.Stocks in the region also pulled back after two days of gains, with MSCI's EM stocks gaugeCBOE:EFSdown 0.8%. It was still set for a second week of gains, however.

Equities in Polandfell 0.6%, while Hungary'swere down 0.2%. Turkish stockswere little changed, though set for their fifth week of gains, their longest winning streak since December.South African equitiesslipped 0.7%, as gold miners weighed, tracking lower prices of the bullion.In Senegal, international bonds extended their rally, with dollar bonds maturing in 2033 gaining more than 1 cent to the dollar.

The International Monetary Fund said on Thursday it would send a mission to Dakar next month to discuss the nation's debt misreporting case and a potential new programme.Meanwhile, Fitch and Moody's will review their rating on Turkey, while Kenya and Bulgaria are also due a review.