Quick overview
- This week features key economic reports including US CPI and PPI inflation figures for July, which are expected to impact market sentiment.
- Major corporate earnings last week showed mixed results, with AMD disappointing investors while Palantir exceeded expectations.
- The Bank of England’s recent rate cut has strengthened the British pound, while the dollar has weakened against it due to shifting market dynamics.
- Cryptocurrencies like Bitcoin and Ethereum have shown resilience, with Bitcoin rebounding from a dip and Ethereum reaching multi-year highs.
Live ETH/USD Chart
ETH/USD
This week besides the Q2 earnings report from major companies, we also have the US CPI and PPI inflation reports for July, which will rattle markets.
Corporate Earnings Recap and Outlook
Last week brought a flurry of major corporate results. AMD underwhelmed investors, sending its share price lower, while Palantir impressed by surpassing expectations for government financing. Eli Lilly posted strong earnings overall, but concerns over underperformance of a key new drug drove the stock down by about 20%.
Central Bank Moves and Currency Shifts
This week, the Bank of England’s “hawkish cut” helped the British pound rally. The decision to reduce rates by 25 basis points was passed by a closer-than-expected 5–4 vote, compared with the market’s anticipated 7–2 split. The dollar has fallen 1.35% against the pound as a result. Meanwhile, USD gained versus the Swiss franc after the Trump administration raised Switzerland’s tariffs to 39%, one of the highest among major trading partners.
Key Market Events for the Week Ahead
Markets brace for a busy week with key inflation figures, GDP updates, and central bank decisions likely to shape sentiment.
Upcoming Economic Data Releases
Monday – Norwegian CPI (Jul), Japanese Mountain Day Holiday
Tuesday – US-China truce deadline (likely extension), RBA Rate Announcement (Aug), UK Jobs Report (Jun), German ZEW Survey (Aug), US CPI (Jul), EIA STEO, OPEC MOMR
Wednesday – German Final CPI (Jul), Spanish Final CPI (Jul)
Thursday – Norges Bank Rate Announcement, Australian Jobs Report (Jul), UK GDP (Jun/Q2), Swedish CPIF (Jul), Eurozone Flash GDP (Q2) & Employment (Q2), US PPI (Jul)
Friday – Japanese GDP (Q2), Chinese Activity Data (Jul), US Retail Sales (Jul), University of Michigan Consumer Sentiment (Prelim, Aug)
Earnings to Watch This Week
Several major tech and growth names are set to report, with results likely to influence market sentiment across sectors.
- Cisco Systems, Inc. (CSCO) – Market Cap: $284.29 B | EPS est: $0.98
- Alibaba Group Holdings Ltd. (BABA) – Market Cap: $282.59 B | EPS est: $2.17
- CoreWeave, Inc. (CRWV) – Market Cap: $63.23 B | EPS est: -0.23
- Circle Internet Group, Inc. (CRCL) – Market Cap: $33.02 B | EPS est: -0.97
- Oklo Inc. (OKLO) – Market Cap: $11.01 B | EPS est: -0.11
- The Metals Company Inc. (TMC) – Market Cap: $2.25 B | EPS est: -0.05
Last week, markets were quite volatile once, with gold retreating and then bouncing to finish the week close to $4,000. EUR/USD continued the upward move toward 1.17, while main indices closed higher. The moves weren’t too big though, and we opened 35 trading signals in total, finishing the week with 23 winning signals and 12 losing ones.
Gold Returns to $3,400
Gold prices remain steady just below record highs after hitting $3,500 per ounce in late April 2025. Caught between shifting Federal Reserve expectations and global tensions, XAU/USD briefly dipped to $3,268 after last week’s FOMC meeting, which kept rates unchanged. The metal rebounded on support from its 20-week simple moving average and weaker-than-expected U.S. labor data, though some traders questioned the accuracy of the figures. While bulls have not yet reclaimed the $3,450–$3,500 range, momentum is building toward a potential breakout.
USD/JPY Volatility Highlights Fed–BoJ Divergence
The dollar initially broke above ¥150, powered by Japanese capital flows and global rate differentials. However, after Friday’s weak U.S. jobs data, the pair dropped nearly 4 yen, reflecting re-priced Fed expectations and profit-taking.
USD/JPY – Weekly Chart
Cryptocurrency Update
Bitcoin Buyers Return
Cryptocurrencies remained a bright spot in an otherwise unsettled market. Bitcoin briefly fell below $112,000 last week before rebounding strongly off the previous high zone, which seems to have turned into support now, with the 50 daily SM (yellow) also adding strength to the support zone.
BTC/USD – Weekly chart
Ethereum’s Rally to Multi-Year Highs
Ethereum (ETH) has staged a sharp comeback after lagging behind Bitcoin and XRP earlier in the year. Over the weekend, ETH crossed $4,300 — its highest level since 2021 — surpassing the highs of 2024. Strong institutional interest and bullish technicals suggest a realistic shot at challenging its all-time high of $4,860. While some bearish sentiment lingers, retail enthusiasm is now a key driver of the rally.
ETH/USD – Daily Chart
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank’s local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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