Weekly Forex & Gold Recap
🕒 Key Events
•Fed: Policy stance remains cautious; no clear signal on rate cuts, so expectations paused.
•Geopolitics/Trade: Escalating tariff threats (notably Trump’s push for blanket tariffs on Canada, EU, Brazil) keep markets on edge, driving safe-haven flows.
•USD: Volatile—buoyed by safe-haven demand and U.S. data; choppy ahead of U.S. holiday.
•Liquidity: Thinner conditions abroad into Friday
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Forex Majors
💶 EUR/USD
•Close: 1.1620
•Weekly Range: Pressured all week by firmer USD and little progress on EU–US trade issues.
•Outlook: Stays below 1.1700 with limited bounce, as safe-haven flows favor USD.
💷 GBP/USD
•Close: 1.3405
•Weekly Range: Downtrend, mostly on weak UK data and broad USD strength.
•Outlook: Struggles below 1.3550, market focus on UK economic softness.
💴 USD/JPY
•Close: 148.85
•Weekly Range: Steady climb as both USD strength and risk-off flows support JPY selling.
•Outlook: Edged higher all week on safe-haven demand, tracking toward 149.00.
💵 USD Index (DXY)
•Level: Near 97.00 (not official close, but representative of USD strength across majors)
•Comment: Remains firm amid easing Fed-cut bets and trade/tariff tension.
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🥇 Gold
•Close: $3,350
•Weekly Range: $3,322–$3,360
•Change: Up roughly +1% on the week.
•Drivers:
oU.S. tariff threats, global geopolitical concerns
oU.S. debt and fiscal risk underpins safe-haven flows
oTechnical resistance seen at $3,360–3,362 zone; potential breakout could test $3,400
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🔎 Friday’s Key Headlines
•USD: Held strong on fresh U.S. tariff threats; volatility expected as markets assess next policy moves.
•EUR/USD, GBP/USD: Both pressured lower by data misses and stronger USD.
•USD/JPY: Supported by broad risk-off flows and USD strength.
•Gold: Third consecutive daily gain; closed near highs as global risks escalate.

💰 Gold steadies above $3,300 even as the dollar gains
📈 Wall Street split, Main Street remains bullish amid politics
🏦 Big shift coming? Gold may enter 401(k) space
📊 U.S. sentiment up, inflation worries ease – potential gold catalyst
🇮🇳 India: Investment gold strong, imports and jewellery weaken
🇨🇳 China’s gold: strong across spot, futures, ETFs; PBoC still buying
🔍 CPM: Silver & platinum gains fueled by speculators, fundamentals watch
🏠 U.S. housing starts up 4.6% in June — gold holds firm
⚠️ Metals markets flashing red flags — Lobo Tiggre says beware
🌐 WSJ: Gold futures finish the week higher on weaker dollar
📉 Powell-firing fears weighed midweek, gold pulled back

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Tuesday, 22nd of July

01:30 🇦🇺 AUD ▪️ Monetary Policy Meeting Minutes
09:15 🇬🇧 GBP ▪️ BOE Gov Bailey Speaks
12:30 🇺🇸 USD ▪️ Fed Chair Powell Speaks
14:00 🇺🇸 USD ▪️ Richmond Manufacturing Index

Wednesday, 23rd of July

14:00 🇺🇸 USD ▪️ Existing Home Sales

Thursday, 24thof July

03:05 🇦🇺 AUD ▪️ RBA Gov Bullock Speaks
07:15 🇫🇷 EUR ▪️ French Flash Manufacturing PMI
07:15 🇫🇷 EUR ▪️ French Flash Services PMI
07:30 🇩🇪 EUR ▪️ German Flash Manufacturing PMI
07:30 🇩🇪 EUR ▪️ German Flash Services PMI
08:00 🇪🇺 EUR ▪️ EU Flash Manufacturing PMI
08:00 🇪🇺 EUR ▪️ EU Flash Services PMI
08:30 🇬🇧 GBP ▪️ UK Flash Manufacturing PMI
08:30 🇬🇧 GBP ▪️ UK Flash Services PMI
12:15 🇪🇺 EUR ▪️ ECB Interest Rate Decision ⭐️
12:30 🇨🇦 CAD ▪️ Core Retail Sales m/m
12:30 🇨🇦 CAD ▪️ Retail Sales m/m
12:30 🇺🇸 USD ▪️ Unemployment Claims
12:45 🇪🇺 EUR ▪️ ECB Press Conference
13:45 🇺🇸 USD ▪️ US Flash Manufacturing PMI
13:45 🇺🇸 USD ▪️ US Flash Services PMI
14:00 🇺🇸 USD ▪️ New Home Sales
23:30 🇯🇵 JPY ▪️ Tokyo Core CPI y/y

Friday, 25th of July

06:00 🇬🇧 GBP ▪️ Retail Sales m/m
08:00 🇩🇪 EUR ▪️ German ifo Business Climate
12:30 🇺🇸 USD ▪️ Core Durable Goods Orders m/m
12:30 🇺🇸 USD ▪️ Durable Goods Orders m/m