Week Ahead – Fed Decides Ahead of NFP, Tariff Deadline as BoC and BoJ Meet Too

Economic

Summary:

The Fed is expected to hold rates while signaling a possible September cut. Key global data, central bank meetings, and trade tensions will dominate markets, with eyes on NFP, inflation, and tariffs.

Fed to Hold Rates, Unlikely to Bow to Trump’s Pressure

The meets on Tuesday amid a cooling trade war and is widely expected to leave unchanged on Wednesday for the fifth time this year, even as President Trump relentlessly pressures the central bank to slash borrowing costs. But aside from the drama with the White House, the July meeting will be significant nevertheless, as a dovish tilt is possible, amid the doves within the Fed becoming more vocal. Not only that, but September is one meeting away and some kind of messaging will be necessary if a rate cut then is on the cards.

The latest dot plot and minutes of the June meeting revealed an almost 50-50 split among participants between those that prefer to lower rates sooner rather than later and those that are inclined to remain on pause for the foreseeable future. Not so long ago, there was growing talk that the Fed might surprise with a cut in July, but the subsequent data quashed the speculation.

Week Ahead – Fed Decides Ahead of NFP, Tariff Deadline as BoC and BoJ Meet Too_1

inflation measures edged up in June and there was a solid increase in . Unfortunately for the Fed, the next NFP report isn’t due until two days after it meets, while the next inflation data – the PCE price indices – will be released the following day. This makes the July gathering a tricky one for Chair Jerome Powell, who faces a daily barrage of insults by Trump.

But Powell himself had left the door open to a July cut, amid lack of clarity about the strength of the economy and the inflationary effects of Trump’s tariffs, and his instincts may be right. Underneath the hood, the June jobs report wasn’t so strong as there was a notable slowdown in private sector employment. And with the number of trade deals being agreed finally gathering pace, the risk of a sharp jump in average import duties on August 1 has come down substantially.

Thus, the Fed is on track to resume its easing cycle in September as the majority of policymakers have been predicting. Flagging the likelihood of a rate cut in September while holding them steady for now is probably the best compromise Powell can achieve at this moment in time. This would unlikely be enough to satisfy his critics, but all the indications are that Trump is not currently planning on firing Powell – whether by upping the pressure on him to resign or finding legal grounds to do so such as using the costly renovations of the Fed headquarters building to allege misconduct.

All Eyes on NFP, PCE and GDP Reports

On the data front, it’s going to be a jam-packed agenda, as apart from the NFP and PCE inflation figures, there’s also the advance GDP report, as well as a slew of other releases.

First up on Tuesday are the S&P CoreLogic Case-Shiller 20-City Composite Home Price Index, the for July and the job openings for June. Pending home sales and the ADP employment change will follow on Wednesday, while on Thursday, Challenger Layoffs and the Chicago PMI for July will be the other second-tier releases.

All those indicators will be watched closely for wider clues on the health of the economy but are unlikely to attract as much attention as the week’s data highlights, the first of which is Wednesday’s advance reading for the second quarter.

The jump in imports in the first quarter before higher tariffs kicked in was a big drag on GDP, which contracted by 0.5%. It’s expected to have rebounded by 2.5% in the June quarter as most tariffs were put on pause. Still, this data will be seen as somewhat outdated as investors and policymakers are more eager to see where the economy is headed.

The Fed is worried about how much inflation will rise over the coming months while keeping one eye firmly on the labour market. The June CPI numbers already pointed to some price hikes due to higher tariffs. If Thursday’s PCE inflation readings do the same, particularly core PCE, then the Fed might even forego September, and this is why a 25-bps rate cut at that meeting is only two-thirds priced in.

Week Ahead – Fed Decides Ahead of NFP, Tariff Deadline as BoC and BoJ Meet Too_2

The Cleveland Fed’s own Nowcast model isn’t predicting any fireworks, however. The price index is estimated to have stayed unchanged at 2.7% year-on-year in June, but headline PCE is forecast to have picked up to 2.5% from 2.3%.

Potentially even more crucial will be the July payrolls numbers out on Friday. The headline print is expected at 102k, down from 147k in the prior month. The unemployment rate is projected to tick up to 4.2%, and growth in average hourly earnings to accelerate slightly to 0.3% month-on-month.

Week Ahead – Fed Decides Ahead of NFP, Tariff Deadline as BoC and BoJ Meet Too_3

Also important on Friday will be the ISM manufacturing PMI, which is expected to improve from 49.0 in June to 49.6 in July.

Any weakness in the upcoming data would likely boost rate cut bets for September but investors are increasingly sceptical about the possibility of a third reduction in 2025 so the downside risks to the US dollar are somewhat limited.

Will the BoJ Talk Up Rate Hike Expectations?

If the greenback does come under greater selling pressure, it’s more likely to be down to the strength of other currencies, such as the yen, which received a leg up from the US-Japan trade agreement.

Whilst there’s a sizable risk that Japan’s economy will take a hit from this new deal, as it still leaves Japanese exporters worse off from where they were before the trade war, the end of the uncertainty does potentially pave the way for the Bank of Japan to restart its tightening campaign. The BoJ last hiked rates in January and following the deal, investors have ratcheted up their bets of another 25-bps increase in the policy rate by year end, helping the yen to recover from near the 150 level against the dollar.

For the July meeting, which takes place on Wednesday and Thursday, the odds of a policy change are near zero, although the Bank will publish its latest quarterly outlook report. Should policymakers revise up their forecasts for inflation and see reduced risks to growth, rate hike expectations could further intensify, boosting the yen.

Week Ahead – Fed Decides Ahead of NFP, Tariff Deadline as BoC and BoJ Meet Too_4

In terms of data, preliminary industrial output for June is out on Thursday, along with retail sales for the same month.

BoC to Stay on Hold as Canada Hopes to Avert 35% Tariffs

Before the Fed and Bank of Japan decisions, it will be the Bank of Canada’s turn on Wednesday to set rates. But the meeting could turn out to be a non-event as the BoC is not anticipated to announce any changes, keeping its overnight rate at 2.75%.

It’s been a tough few months for Canadians, least of all for BoC policymakers who’ve had to worry about both a resurgence in inflation and a recession as the country’s biggest trading partner is threatening tariffs of up to 35%. Although the steeper levy rate won’t apply to goods covered under the USMCA agreement, it could nevertheless cause significant disruption to trade between the two neighbouring countries, potentially pushing the economy into a recession.

Week Ahead – Fed Decides Ahead of NFP, Tariff Deadline as BoC and BoJ Meet Too_5

According to the ’s latest outlook survey, businesses are a little less pessimistic than in the prior quarter, as the recent trade deals have boosted hopes that Trump and Prime Minister Mark Carney will be able to reach some kind of an agreement before August 1.

But with more than 70% of Canada’s exports destined for the United States, it’s probably too soon to rule out a recession. (Thursday’s monthly GDP reading will provide an update for May). At the same time, Canada’s retaliatory tariffs of 25% on certain US goods is pushing up prices domestically. Even before the onset of the trade war, underlying inflation in Canada began to head higher and this limits the scope for rate cuts should the economic picture deteriorate further.

For now, and in the absence of a trade deal announcement over the next few days, the BoC will likely maintain the same tone as in the June meeting, with the risks to the Canadian dollar being tilted sightly to the downside.

Eurozone Data May Fail to Excite

It’s not just Canada that’s in a rush to reach a trade agreement with the US as the European Union has also not struck a deal yet, although reports suggest that negotiators are closing in on one. The European Central Bank has already done its bit to safeguard the Eurozone economy from the trade war risks and decided to keep rates on hold in July for the first time in eight meetings, having halved the deposit rate to 2.0%.

Policymakers likely want to retain some firepower in case trade tensions with America escalate again as time is running out before the August 1 deadline. But assuming that a deal is agreed, it could be several months before the ECB cuts again, if at all. Hence, next week’s data may not spur much reaction in the euro.

The preliminary GDP estimates for the second quarter are due on Wednesday, followed by flash CPI numbers for July on Friday.

Week Ahead – Fed Decides Ahead of NFP, Tariff Deadline as BoC and BoJ Meet Too_6

Will Australian CPI Give RBA the Green Nod

In Australia, quarterly CPI data could be crucial for the Reserve Bank of Australia’s next policy decision, something that Governor Michelle Bullock had referenced when justifying the surprise hold in July.

Australia’s statistics office won’t begin publishing a complete monthly CPI dataset until November. Until then, the RBA is putting more weight on the quarterly release than the experimental monthly reads.

The second quarter figures are due on Wednesday when the RBA will be hoping to see a further moderation in the core CPI measures. As for headline CPI, it dipped to 2.1% in May, but the RBA wants to see a similar decline in the quarterly print before trimming rates again.

Week Ahead – Fed Decides Ahead of NFP, Tariff Deadline as BoC and BoJ Meet Too_7

A rate cut at the RBA’s next meeting in August is not fully priced in so the Australian dollar could extend its recent gains if the CPI figures are stronger than expected, further denting easing bets. Meanwhile, traders will also be watching Chinese manufacturing PMI due on Thursday.

Source:investing

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

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Adam

Stocks

This week saw one of the most mixed price action towards the newly formed all-time highs for the 500 best US Companies – The ongoing opening bell is not showing much juice to retest the overnight highs and other global indices are also correcting on the session.

The Earnings season has been more than decent but looking at the price action, buyers seem to have come to an exhaustion point.

Despite a Daily Golden Cross leading to 11 consecutive new highs, the price discovery for the S&P looks to be stalling at a key zone of interest, coming short of the 6,400 psychological level for both the CFD and actual Index.

Many of the best performing assets in the year have started to form local tops: looking at the strong retracement in Gold, Bitcoin, the freshly formed Double top in the Nasdaq that sellers are starting to lean up on and the Dow Jones just retesting its ATH just yesterday without breaching the level.

This week had some decently positive news that could have boosted momentum for equities further such as Trump confirming he won't fire Jerome Powell and the finalized US-Japan Trade Deal.

Positioning and Sentiment at an extreme

S&P 500 and CBOE Put/Call Ratio – July 24 2025

Wherever you look, Market participants mention how strong the ongoing US Trend is and how such strong momentum cannot be faded – This is far from an invitation to sell highs but to trade with more caution looking ahead.

The S&P 500 Put/Call Ratio is coming at a trough and such positive & negative spikes tend to coincide with some tops, particularly amid extreme Fear/Greed levels.

I remember the 2022 Bear Market concluding on an extreme put ratio against calls – The trough isn't forming such a spike today but the extremes are close.

S&P 500 Technical Analysis from the Daily to intraday charts

S&P 500 Daily

S&P 500 Daily Chart, July 24 2025

The S&P 500 has been flying upwards particularly since the end of the Israel-Iran conflict after forming lows at 5,930.

There hasn't been much selling, with almost no daily candle closing below the prior with this pushing Daily RSI to overbought levels.

Overbought RSI is by definition a standard in such strong trends – Such technical signs don't always traduce with a correction but at least an exhaustion in the move.

You may also take a peek at the Potential Supply trendline that is not too far from current trading – But a closer look is more than required for further analysis.

S&P 500 4H

S&P 500 4H Chart, July 24 2025

Looking closer, we can spot candles that are looking less strong particularly as buyers are stepping against the 1.272 Fib-Extension from the War lows to the July 3 Local top.

Momentum is currently retracting from overbought and momentum is starting to become slightly more neutral.

Buyers will want to re-enter above the longer-run upwards Channel formed with the April 2025 bottom and will need to breach the current highs on strong momentum – Local CFD Highs at 6,391, Index at 6,381.

S&P 500 1H Chart

Looking even closer, buyers haven't given up just yet, especially with RSI momentum not breaching the neutral line.

Except for the higher timeframe warning signs, holding above the 1H-MA 50 still give the short-term hand to the bulls, but they will have to break the last swing highs to gain further traction.

Source: marketpulse

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Adam

Stocks

Biotech stocks are on the rise in July after President Donald Trump said he would give pharma companies "about a year, year and a half" before enacting up to 200% tariffs on drug imports.

Shares whipsawed in early April after Trump and his administration announced "major" tariffs would soon be coming for pharmaceuticals, then delayed country-specific reciprocal tariffs for 90 days for most trading partners, only to clarify the delay doesn't pertain to sectoral tariffs.

Though Trump said in July he would levy tariffs on drug imports "very soon," biopharma stocks climbed on the announcement. At least one analyst said the news is promising because it means tariffs won't come in the immediate future, if at all.

Now, companies are bracing for drug pricing reform that aims to align the prices of medicine in the U.S. with an international index. Critics say this could harm innovation in the U.S.

Investor's Business Daily's Medical-Biomed/Biotech industry group has fallen about 4% this year, as of midday trades on July 25. The 695-company industry group ranks No. 24 out of 197 groups Investor's Business Daily tracks. The Relative Strength Rating of 89 — a measure of 12-month performance against all other groups — has improved markedly from 57 just six months ago.

But it's key to watch specific measures when examining stocks. In terms of fundamental and technical metrics, some biotech stocks are showing strength. The best biotech stocks trading above 10 right now are:

Exelixis

CorMedix

Harmony Biosciences

Eton Pharmaceuticals

Atara Biotherapeutics

Exelixis Focuses On Cancer Drugs

Exelixis leads the list of top biotech stocks. The company has made a name for itself as a cancer treatment specialist. It sells Cabometyx, a treatment for several forms of kidney, liver and thyroid cancer. The company's Cometriq treats thyroid cancer.

On June 23, Exelixis stock surged 7.4% after the company unveiled promising results for its next-generation colon cancer treatment. Patients given a combination of its drug, zanzalintinib, and Roche's (RHHBY) Tecentriq showed a statistically significant improvement in overall survival compared to those given a Bayer (BAYRY) drug called Stivarga.

During the first quarter, Exelixis reported adjusted earnings of 62 cents per share and $555.4 million in sales. Both measures easily beat forecasts. The company also raised its full-year sales outlook by $100 million. Shares shot up nearly 21% on May 13, the day after Exelixis' report.

The company now expects $2.25 billion to $2.35 billion in sales for 2025. That includes $2.05 billion to $2.15 billion in sales of its products.

The biotech stock is now well above its 50-day and 200-day moving averages.

Exelixis stock has a perfect Composite Rating of 99 and a Relative Strength Rating of 92. The CR is a 1-99 score of a stock's fundamental and technical measures, pitted against all other stocks.

The biotech stock lands on IBD's Tech Leaders list.

Focusing On Kidney Disease Patients

CorMedix joined the list of top-rated biotech stocks for the first time in May.

The company's lead product, DefenCath, was approved in November 2023 and launched for patients in hospitals in July 2024. DefenCath is a combination of drugs called taurolidine and heparin to reduce the risk of catheter-related bloodstream infections in kidney failure patients receiving chronic dialysis through a central venous catheter.

Shares of CorMedix bounded to a four-year high on June 23 after the company inked a deal with a large dialysis customer to begin using DefenCath in its patients. The company will use DefenCath in at least 50% more patients than initially planned. But CorMedix stock dropped by double digits on June 27 after the company announced a public offering.

During the first quarter, CorMedix earned an adjusted 30 cents per share on $39.1 million in sales. Earnings reversed from a year-earlier loss of 25 cents and beat forecasts for a 26-cent gain. CorMedix didn't have any year-earlier sales. First-quarter sales topped calls for $36.9 million.

CorMedix stock is now below its 50-day line, but remains above its 200-day moving average. Shares have a strong RS Rating of 90, but a lower CR of 83.

Harmony's Pipeline In A Product

Biotech stock Harmony Biosciences is making a name for itself with a single product: pitolisant. The company sees the drug "as a portfolio in a product opportunity."

Today, pitolisant is approved as a narcolepsy treatment named Wakix. But Harmony is also investigating pitolisant in other conditions, including a genetic disorder known as Prader-Willi syndrome and a myotonic dystrophy, a muscle weakness disease.

Harmony is also testing another earlier-stage product for Prader-Willi syndrome. Prader-Willi causes a number of behavioral and intellectual problems. It can also lead to short stature.

In the first quarter, Harmony reported an adjusted 78 cents per share on $184.7 million in sales. Earnings grew 16.5%, while sales climbed 19.5%. Both measures topped analysts' forecasts.

The biotech stock has retaken its 50-day and 200-day moving averages. Shares have a strong CR of 96, but a lower RS Rating of 72. Harmony stock is consolidating with a buy point at 41.61.

Rare Disease Specialist In Focus

Eton Pharmaceuticals landed on the list of top biotech stocks in June and regained its spot in July.

The company sells eight products, targeting rare diseases. It also has five drugs in development for forms of diabetes, Wilson disease, a endocrinological condition and adrenal crisis. Wilson disease is a rare, inherited disease in which the body can't remove excess copper, leading to a toxic buildup.

During the first quarter, Eton earned an adjusted 7 cents per share and had $17.3 million in sales. This is the first year Eton is expected to report an annual profit. Analysts call for adjusted earnings of 48 cents a share on $76.9 million in sales.

The biotech stock is now sandwiched between its 50-day and 200-day lines. Shares have a strong RS Rating of 96. Eton stock also has a CR of 89.

Using The Immune System

Atara Biotherapeutics is working on treatments for cancer and autoimmune diseases.

The company is angling to use T cells, a key part of the immune system, to identify and fight cancer. But unlike CAR-T cancer treatments from Gilead Sciences (GILD) and Novartis (NVS), Atara is working on allogeneic drugs. This means the drug is developed user donor cells, instead of a patient's own cells.

Atara's most notable drug is called Ebvallo, a treatment for Epstein-Barr virus. Ebvallo isn't approved in the U.S., though it's available in Europe. The FDA placed clinical testing on hold due to manufacturing concerns at a third-party facility. Recently, the FDA lifted those clinical holds.

In the first quarter, Atara came in with $98.1 million in sales. The 258% year-over-year increase was tied primarily to the completion of specific performance obligations under an agreement with Pierre Fabre. Pierre Fabre manufactures all of Atara's products, as of March.

Atara stock is trading well above its key moving averages, with a CR of 90 and a strong RS Rating of 94.

Source: investors

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Manuel

Cryptocurrency

Bitcoin’s long-standing four-year cycle, once a dominant framework for predicting price movements, is beginning to lose its influence, according to Bitwise CIO Matt Hougan.

In a July 25 post on X, Hougan pointed out that the maturing nature of the crypto market, coupled with rising institutional involvement, is weakening the forces that historically shaped Bitcoin’s cyclical behavior.

Why Bitcoin’s 4-year cycle is dead

According to Hougan, while Bitcoin halvings once played a pivotal role in driving supply shocks and fueling bull markets, their influence is waning.

He also noted that the broader macro environment has also shifted. Interest rates no longer exert the same downward pressure on crypto markets as they did in previous cycles.

Hougan added that clearer regulatory structures are emerging across the crypto industry. This, combined with greater institutional oversight, has helped reduce the extreme volatility and collapse risk that once plagued the market.

According to Hougan, the crypto landscape is evolving longer and more strategically now. Asset flows into spot Bitcoin ETFs, which began in earnest in 2024, are expected to continue over the next decade.

Meanwhile, traditional financial institutions, from pension funds to national account platforms, are only just beginning to offer crypto access to their clients.

Additionally, legislative support, such as the recent passage of the Genius Act, is further accelerating Wall Street’s entry into the space, setting the stage for sustained capital inflows.

Obsolete

This sentiment is echoed by CryptoQuant CEO Ki Young Ju, who recently walked back earlier bearish calls based on the old cycle model.

In April, Ju warned that Bitcoin’s rally had peaked near $80,000, yet the asset continued its ascent, eventually surpassing $123,000 this month.

Reflecting on that miss, Ju stated that the traditional accumulation-distribution dynamic—where whales sell into retail demand—no longer holds. Instead, institutional investors and corporate treasuries are emerging as the dominant buyers, reshaping market behavior and reducing speculative churn.

What’s next for Bitcoin?

As a result, these deeper structural shifts are challenging long-held assumptions about Bitcoin.

Considering this, Hougan suggested that the market is moving away from boom-bust cycles toward more consistent, long-term growth.

While he acknowledges the potential for short-term volatility, he sees 2026 as a year of strong performance driven by lasting adoption trends rather than reflexive market patterns.

Source: Cryptoslate

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Adam

Forex

After failing to trade above the 99.00 psychological handle last Thursday, the Dollar Index had retracted strongly in the beginning of the week – Is the ongoing retracement over?

Other majors have enjoyed from the close to 2% correction in the Index, particularly USDJPY which had been struggling since the onset of July.

Markets tend to move chaotically on the small picture but the bigger picture sometimes offers some great insights.

The US Dollar just marked what is for now an intermediate bottom on its index and this marked the end of the weekly run in European and Asia-Pacific currencies.

Let's take a look at the DXY and a few other major charts to prepare for the month-end to next month trading.

Taking a look at the US Dollar

Dollar Index Daily Chart, July 24 2025

The US Dollar had marked a bad looking intermediate-top for its higher prospects amid the past month of selling positions closing.

The path of the Greenback, always in the middle of many crosscurrents of macroeconomic and financial micmacs, tends to be complex to forecast on the longer-run.

The ongoing theme in 2025 is one of US Exceptionalism that is scaring financial flows to exit American Markets or at least, strongly diversify from them.

SInce 2008, the United States have captured a huge part of big bank investments. The outflows of such have had a strong impact, but they can't just happen in one shot as it has been the case this month.

The speed at which that happened actually might have been a reason for the now-underweight US Equities asset managers to rush back to American markets on their strong fundamentals, leading to some strong moves to their new all-time highs.

A lot of these reasons have led to the USD still marking a strong bottom at a weekly Head and Shoulders target – 96.50 is the level to keep in mind, the lowest point hit since the beginning of the 2022 hike cycle.

But looking closer, what do we see? Dollar Index 8H Chart

Dollar Index 8H Chart, July 24 2025

The USD is bouncing sharply after retesting both the 2025 Lows Key support zone which coincides perfectly with a retest of the 2025 Channel which had been broken upwards.

The 8H MA 50 is acting as immediate resistance for the Dollar, so this weekly close should be very interesting.

Marking a strong rejection here will point to a consolidation between Wednesday's 97.00 Lows and today's 97.90 Highs.

Staying at the current levels or clsoing above will point to a higher path to the Dollar and a confirmation that the lows of the next few months might have already been attained.

So, what are other major pairs showing?

Potential double top for the EURUSD

Dollar regains footing as long-term Reversal carves out a Bottom_3

EUR/USD 8H Chart, July 24 2025

Watch the 1.17 Handle, acting as key immediate pivot.

USDCAD – Still ranging but strong rally off the lows

USD/CAD 8H Chart, July 24 2025

Price action is still within the range but the ongoing rally is very strong – Watch for reactions around the 1.3750 range resistance.

Next key resistance is one full handle above (1.3850).

GBPUSD breaking below its 2025 Channel

GBP/USD 8H Chart, July 24 2025

Sellers still have to break below the 1.34 support zone but the rejection at the 1.36 Resistance is a bit nasty.

July 2025 lows are at 1.33650

USDCHF – Potential double bottom

USD/CHF 8H Chart, July 24 2025

Buyers will still have to break the strong downward trendline but a double bottom may have freshly formed.

Concluding note

The US Dollar is one of the most complex financial instrument to analyze, but looking at these current charts, there are some signs of a strong change to the ongoing 2025 flows.

If price action for the major pairs stays rangebound from here, it would invalidate the US Dollar strength scenario which is always still a possibility.

Trading is about taking a step back to spot the higher timeframe trends that big participants carve out, and displaying all the potential scenarios while highlighting the ones with the highest probabilities.

Source: marketpulse

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Devin

Economic

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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Week Ahead – Fed Decides Ahead of NFP, Tariff Deadline as BoC and BoJ Meet Too

Fed to Hold Rates, Unlikely to Bow to Trump’s Pressure

All Eyes on NFP, PCE and GDP Reports

Will the BoJ Talk Up Rate Hike Expectations?

BoC to Stay on Hold as Canada Hopes to Avert 35% Tariffs

Eurozone Data May Fail to Excite

Will Australian CPI Give RBA the Green Nod

Source:investing

Is the S&P 500 losing steam?

Positioning and Sentiment at an extreme

S&P 500 and CBOE Put/Call Ratio – July 24 2025

S&P 500 Technical Analysis from the Daily to intraday charts

S&P 500 Daily Chart, July 24 2025

S&P 500 4H Chart, July 24 2025

Source: marketpulse

The Cream Of The Crop: 5 Biotechs That Outrank Most Stocks

Exelixis Focuses On Cancer Drugs

Focusing On Kidney Disease Patients

Harmony's Pipeline In A Product

Rare Disease Specialist In Focus

Using The Immune System

Source: investors

Bitcoin´s Four-Year Cycle Loses Grip as Maturing Market Reshapes Dynamics

Why Bitcoin’s 4-year cycle is dead

Obsolete

What’s next for Bitcoin?

Source: Cryptoslate

Dollar regains footing as long-term Reversal carves out a Bottom

Taking a look at the US Dollar

Dollar Index Daily Chart, July 24 2025

But looking closer, what do we see? Dollar Index 8H Chart

Dollar Index 8H Chart, July 24 2025

So, what are other major pairs showing?

EUR/USD 8H Chart, July 24 2025

USD/CAD 8H Chart, July 24 2025

GBPUSD breaking below its 2025 Channel

GBP/USD 8H Chart, July 24 2025

USD/CHF 8H Chart, July 24 2025

Concluding note

Source: marketpulse

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

Source: Reuters

OPEC+ panel likely to keep oil policy steady on Monday, sources say

Source:Reuters

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