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⚠️ USA β€” Federal Reserve Chairman Warsh Testifies at 14:00 GMT
⚠️ Canada β€” BOC Press Conference at 14:30 GMT
πŸ—“ Economic Calendar at 2026/07/17 (GMT)

12:30 πŸ‡ΊπŸ‡Έ Unemployment Claims β€” Exp: 217K Actual: 208K

12:30 πŸ‡ΊπŸ‡Έ ⚑️ Retail Sales β€” Exp: 0.2% | 0.0% Actual: 0.2% | -0.2%

12:30 πŸ‡ΊπŸ‡Έ Philly Fed Manufacturing Index β€” Exp: 12.7 Actual: 41.4

14:00 πŸ‡ΊπŸ‡Έ Pending Home Sales β€” Exp: -0.5% Actual: -5.4% | -0.3%

01:00 πŸ‡ΊπŸ‡Έ ⚑️ President Donald Trump Speaks


[Updated in real time]
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FxPro pinned Β«πŸ—“ Economic Calendar at 2026/07/17 (GMT) 12:30 πŸ‡ΊπŸ‡Έ Unemployment Claims β€” Exp: 217K Actual: 208K 12:30 πŸ‡ΊπŸ‡Έ ⚑️ Retail Sales β€” Exp: 0.2% | 0.0% Actual: 0.2% | -0.2% 12:30 πŸ‡ΊπŸ‡Έ Philly Fed Manufacturing Index β€” Exp: 12.7 Actual: 41.4 14:00 πŸ‡ΊπŸ‡Έ Pending…»
⚠️ UK β€” Gross Domestic Product at 03:00 GMT

βœ”οΈ Prev: -0.1% | 0.8%

πŸ•’ Exp: 0.0% | 0.5%

🎯 Fact.: 0.1% πŸ“ˆ | 0.7% πŸ“ˆ
The Pound: From Outsider to Favourite

β€’ Rumours of a less profligate Treasury than expected have boosted GBPUSD.

β€’ The US dollar is falling as the likelihood of monetary tightening by the Fed has diminished.

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Crypto market at $2.23T: a bullish pause above the 50-day MA

The crypto market has stabilised at levels around $2.23T, remaining there for the second day running. The market is in a fairly bullish consolidation above the area of previous local highs and the 50-day moving average, signalling a smooth transition to a bull market: without dizzying rallies, but with a steady upward trend. The major cryptocurrencies are generally holding their ground, while there is a greater tendency towards profit-taking among the weaker altcoins. The top gainers over the past 24 hours were Theta Network (+2.3%), Stellar (+1.9%) and Zcash (+1.8%). The biggest fallers were Bitcoin Cash (-5.6%), Aave (-3.1%) and Polkadot (-2%).

Bitcoin has settled down, consolidating above $64K and the 50-day moving average, but lacks the momentum to break through $65K. This lull is not yet a cause for concern. The market is likely geared towards cautious buying of the leading cryptocurrency at current levels, forming a bottom that could hold for many months or even years to come. As always, there is a risk of a sudden sell-off amid financial market shocks, which could send BTC or global stock indices into a tailspin, but waiting for such moments is a thankless task. In such conditions, buying in a quiet market at less than half of peak levels looks like a perfectly reasonable tactic for the coming days or weeks.

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⚠️ USA β€” Retail Sales at 03:00 GMT

βœ”οΈ Prev: 1.0% | 1.0%

πŸ•’ Exp: 0.2% | 0.0%

🎯 Fact.: 0.2% | -0.2% πŸ“‰
πŸ‡ΊπŸ‡Έ US Pre-Market: Mixed πŸ“Š

Mixed trading is prevailing in the US stock market pre-market, with a moderate upward trend driven by the largest technology companies.

In the Information Technology sector, NVIDIA (NVDA) is down 1.76%, Apple (AAPL) is up 0.36%, while Microsoft (MSFT) is up 0.93%.

In the Communication Services sector, Alphabet (GOOGL) is up 0.40%.

In the Health Care sector, Johnson & Johnson (JNJ) is up 0.70%, while Merck (MRK) is up 1.10%.

The market is in a moderately risk-on mode, with major technology and pharmaceutical companies trading higher, supporting interest in risk assets. For the dollar, this implies a neutral backdrop, as demand for safe-haven dollar instruments is limited.
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▢️ Oil. Rise

Today is Thursday, the 16th of July, and let's talk about the oil market.

There's been a change in the scenario, a shift to an alternative one.

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⚠️ USA β€” President Donald Trump Speaks at 01:00 GMT
πŸ—“ Economic Calendar at 2026/07/18 (GMT)

12:30 πŸ‡ΊπŸ‡Έ Building Permits β€” Exp: 1400K Actual: 1367K | -3.0%

12:30 πŸ‡ΊπŸ‡Έ Housing Starts β€” Exp: 1310K Actual: 1427K | 19.0%

13:15 πŸ‡ΊπŸ‡Έ Industrial Production β€” Exp: 0.2% Actual: 0.1%

14:00 πŸ‡ΊπŸ‡Έ UoM Consumer Sentiment β€” Exp: 51.0 Actual: 54.4


[Updated in real time]
FxPro pinned Β«πŸ—“ Economic Calendar at 2026/07/18 (GMT) 12:30 πŸ‡ΊπŸ‡Έ Building Permits β€” Exp: 1400K Actual: 1367K | -3.0% 12:30 πŸ‡ΊπŸ‡Έ Housing Starts β€” Exp: 1310K Actual: 1427K | 19.0% 13:15 πŸ‡ΊπŸ‡Έ Industrial Production β€” Exp: 0.2% Actual: 0.1% 14:00 πŸ‡ΊπŸ‡Έ UoM Consumer Sentiment…»
A false bullish breakout for Bitcoin?

The crypto market capitalisation fell by 2.7% to $2.16T amid growing nervousness in traditional financial markets, where concerns over AI spending have intensified. The crypto market has returned to the levels seen at the start of the week, while the Nasdaq 100 is testing the region of its June lows. Furthermore, the crypto market capitalisation is trading near its 50-day moving average as the Nasdaq 100 is being sold off with alarming determination after dipping below it. At present, the situation appears to be a short-term sign of strength for cryptocurrencies following several months of pressure; however, sustained declines in shares and bonds have repeatedly forced investors to rebalance their portfolios, leading to painful selloffs in cryptocurrencies. Among the top coins, the biggest fallers include Zcash (-6.4%), Near Protocol (-5.3%) and Tezos (-5%). Polkadot (+1.1%), Litecoin (-0.2%) and Bitcoin Cash (-0.8%) are temporarily outperforming the market.

Bitcoin has lost 2.9% over the past 24 hours, falling back to $62.8K. Due to external pressure, the leading cryptocurrency has failed to confirm a reversal of the downtrend, as higher highs were not formed, and the price quickly fell back below the 50-day MA, returning to the downtrend channel in place since June. The lower boundary of this range is currently near $56K, but support should also be expected near $61K and $59K, at previous local lows.

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πŸ‡ΊπŸ‡Έ US Pre-Market: Mostly Negative πŸ“‰

The US stock market is showing a downward trend in pre-market trading.

In the Consumer Staples sector, Walmart (WMT) is up 1.85%, while in the Consumer Discretionary sector, Amazon (AMZN) is down 1.52%.

In the Financials sector, Visa (V) is up 0.48%, while JPMorgan Chase (JPM) is down 0.45%.

In the Information Technology sector, NVIDIA (NVDA) is down 2.51%, while Advanced Micro Devices (AMD) is down 3.99%.

The prevailing decline among the largest companies by market cap points to a clear flight from risk within the US market. In this environment, short-term support for the dollar is emerging through rising demand for safe-haven dollar assets and capital flows into Treasuries.
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▢️ Pro News Weekly: Has the Dollar Lost Its Edge?

Welcome to Pro News Weekly!

πŸ’΅ The U.S. dollar has come under renewed pressure as easing inflation and producer price data reinforce expectations that the Federal Reserve may not need to tighten monetary policy as aggressively as previously feared. With oil prices retreating from recent highs and geopolitical concerns fading, investors are scaling back expectations for additional rate hikes, weighing on the greenback.

πŸ“Š Stock indices have continued their upward momentum as markets look beyond recent geopolitical tensions and focus on improving inflation trends and the start of second-quarter earnings season. Strong results from major U.S. banks have boosted confidence, while weakness in parts of the technology sector is encouraging investors to rotate into other areas of the market.

πŸͺ™ Gold remains under pressure as expectations for tighter monetary policy across major central banks reduce demand for the precious metal. Concerns that rising oil prices could prompt some central banks to support their currencies by selling reserves have further weakened gold's safe-haven appeal despite ongoing tensions in the Middle East.

β‚Ώ Bitcoin has regained momentum as expectations for near-term Federal Reserve tightening continue to fade. The recovery has also been supported by nearly $200 million of fresh ETF inflows following weeks of heavy outflows, helping improve sentiment across the broader cryptocurrency market.

πŸ“Š With the European Central Bank's interest rate decision, UK employment, inflation and retail sales data, plus global PMI figures all due next week, will fresh economic data determine the next move for currencies, commodities and stock markets?

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