▶️ FxPro: What’s Moving Markets Next Week

Stay informed with FxPro’s weekly update and stay ahead of what’s shaping the markets.

Markets are heading into another important week of economic data, with inflation, central bank policy and business activity all set to influence expectations for interest rates and the outlook for the European economy. 🌍

Wednesday begins with the latest UK Consumer Price Index report. The previous year-on-year inflation reading came in at 2.8% and investors will be watching closely to see whether price pressures continue to build, potentially influencing the Bank of England’s next policy decision. 🇬🇧

Attention then shifts to the Eurozone on Thursday, where the European Central Bank announces its latest interest rate decision. The benchmark rate currently stands at 2.40%, with policymakers balancing persistent inflation against slowing economic growth. Markets will be looking for fresh guidance on the future path of monetary policy. 🇪🇺

Friday wraps up the week with the latest Flash PMI reports from across Europe. Services activity in France and Germany has remained below the key 50 level, while the UK’s previous reading stood at 48.8, signalling continued contraction. The data will offer valuable insight into the health of the region’s economy and business activity. 📊

With inflation, central bank policy and economic growth all in focus, currencies, indices and commodities could see increased volatility throughout the week. 👀

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🗓 Economic Calendar at 2026/07/21 (GMT)

12:30 🇨🇦 ⚡️ Consumer Price Index — Exp: -0.2% | 2.9% Actual: -0.4% | 2.8%

12:30 🇨🇦 Core CPI Actual: 0.1% | 2.1%

12:30 🇨🇦 Common Core CPI — Exp: 2.5% Actual: 2.6%

12:30 🇨🇦 Trimmed Core CPI — Exp: 2.0% Actual: 1.8%

12:30 🇨🇦 Median Core CPI — Exp: 2.1% Actual: 1.9%

22:45 🇳🇿 ⚡️ Consumer Price Index — Exp: 1.4% | 4.0% Actual: 1.5% | 4.1%

06:00 🇬🇧 Claimant Count Change — Exp: 28.3K

06:00 🇬🇧 Unemployment Rate — Exp: 4.9%

06:00 🇬🇧 Average Earnings Index — Exp: 4.5% | 3.4%


[Updated in real time]

Bitcoin is struggling against a glass ceiling at $65K

The crypto market remains relatively stable around the $2.20T mark. This is a respectable performance, particularly given the weakness in key stock indices and the downward trend in gold. Market capitalisation is hovering around its 50-day moving average, reflecting the ongoing struggle to shift the trend to a bullish one. Top-tier coins are falling, with Solana, Chainlink and SushiSwap showing the best performance over the last 24 hours by holding their prices steady. The sharpest declines were seen in Zcash (-5.3%), Filecoin (-4.6%) and OfficialTrump (-1.6%).

The sentiment index has risen to 29, continuing to climb within the 'fear' zone and reaching a new local high not seen since late May. We would remind readers, however, that a return to neutral territory is normal for this index, and it is premature to speak of the end of the bear market until the index has firmly established itself above 50.

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Forex: the dollar’s rivals are not resting on their laurels

The euro is awaiting signals from the ECB regarding a rate rise.

The pound will be looking for clues in the macroeconomic data.

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⚠️ Canada — Consumer Price Index at 03:00 GMT

✔️ Prev: 1.0% | 3.2%

🕒 Exp: -0.2% | 2.9%

🎯 Fact.: -0.4% 📉 | 2.8% 📉

Stock market: rotation is gathering pace

The S&P 500 was spooked by Kimi K3, just as it had been by DeepSeek in the past.

Investors have turned their backs on the Magnificent Seven and are on the hunt for new stars.

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🇺🇸 US Pre-Market: Mixed 📊

Pre-market trading on the US stock market is showing mixed trends, with a slight positive bias: heavyweight technology companies are trading with moderate gains on average, while some sectors are seeing localised profit-taking.

In the Information Technology sector, NVIDIA (NVDA) is up 1.49%, while Broadcom (AVGO) is up 1.69%.

In the Financials sector, JPMorgan Chase (JPM) is up 0.10%, while Goldman Sachs (GS) is up 0.73%.

In the Consumer Discretionary sector, Amazon (AMZN) is up 0.23%, while in the Consumer Staples sector, Walmart (WMT) is down 0.56%.

Given the performance of the largest companies by market cap, the market remains in moderate risk-on mode: risk appetite persists, but without marked euphoria. This creates a neutral backdrop for the dollar: interest in safe-haven dollar assets is limited, with no signs yet of significant selling pressure from global investors.

▶️ Oil. Current Situation

Join Roman Pavelko for a quick update on the biggest developments driving the oil market this week. From supply and demand to geopolitical risks and price outlooks, here's what every trader should know in under 60 seconds.

📈 Stay ahead of the markets with daily insights from FxPro.

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EURUSD Wave Analysis – 20 July 2026

- EURUSD reversed from resistance level 1.1465

- Likely to fall to support level 1.1370

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Disney Wave Analysis – 20 July 2026

- Disney reversed from the round resistance level 100.

- Likely to fall to support level 95.00

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⚠️ New Zealand — Consumer Price Index at 03:00 GMT

✔️ Prev: 0.9% | 3.1%

🕒 Exp: 1.4% | 4.0%

🎯 Fact.: 1.5% 📈 | 4.1% 📈

🗓 Economic Calendar at 2026/07/22 (GMT)

09:00 🇩🇪 ZEW Economic Sentiment — Exp: 18.0 Actual: 26.3

09:00 🇩🇪 ZEW Survey (Current Situation) — Exp: -77.8 Actual: -77.6

09:00 🇪🇺 ZEW Economic Sentiment — Exp: 11.5 Actual: 23.4

06:00 🇬🇧 ⚡️ Consumer Price Index — Exp: 0.1% | 2.7%

06:00 🇬🇧 Core CPI — Exp: 2.5%

06:00 🇬🇧 Retail Price Index — Exp: | 3.0%

06:00 🇬🇧 Producer Price Index Input — Exp: 0.2%


[Updated in real time]

Bitcoin has broken through $66K and is surging higher

The crypto market capitalisation has risen to $2.25T, gaining 2.7% over the past 24 hours and climbing to levels last seen over a month ago. This is a promising attempt to resume growth following a period of consolidation, and it is worth closely monitoring market dynamics near the previous local highs of $2.27T, as a sustained upward trend would pave the way for May’s $2.70T highs. Among the most actively traded coins, the top performers over the past day were Cardano (+9%), Uniswap (+8.7%) and Polkadot (+6.9%). The worst-performing coins are also in positive territory, albeit more modestly: Tron +0.1%, Litecoin and Dash both up 1.7%.

Bitcoin has gained 3% over the past day, trading above $66K and approaching the highs seen in the first half of May. At current levels, the leading cryptocurrency is attempting to break out from below a former strong support level that acted as resistance last month. Slightly higher, approaching $68K, lies the 61.8% retracement zone from the May–June sell-off. The ability to consolidate above this level would be a further confirmatory signal of an upside trend reversal.

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Crude Oil: no room for error

The Saudi Arabian export stop is a worry for the oil market.

Rising Brent prices are increasing the chances of Fed rate hikes, supporting the USD.

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Bitcoin Wave Analysis – 20 July 2026

- Bitcoin broke resistance level 65500.00

- Likely to rise to resistance level 70000.00

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Platinum Wave Analysis – 21 July 2026

- Platinum reversed from key support level 1555.00

- Likely to rise to resistance level 1680.00

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Nasdaq-100 Wave Analysis – 21 July 2026

- Nasdaq-100 reversed from support zone

- Likely to rise to resistance level 29815.00

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Nikkei 225 Wave Analysis – 21 July 2026

Nikkei 225: ⬆️ Buy

- Nikkei 225 reversed from support level 63340.00

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🇺🇸 US Pre-Market: Mixed 📊

The US stock market is seeing mixed pre-market trading, with a slight upward bias among the largest names, setting a cautiously positive tone.

In the Information Technology sector, NVIDIA (NVDA) is up 1.22%, Advanced Micro Devices (AMD) is up 3.78%, while Microsoft (MSFT) is down 1.07%.

In the Communication Services sector, Alphabet (GOOGL) is down 0.34%.

In the Consumer Discretionary sector, Tesla (TSLA) is up 0.48%, while Amazon (AMZN) is down 0.19%.

Moderate gains among major technology firms and select consumer companies are creating a moderate risk-on environment: interest in risk assets remains, but without marked euphoria. In this environment, the dollar is largely neutral, with demand for safe-haven dollar instruments limited.