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Weekly Recap - The US inflation releases showed receding price increases. However, the Fed is expected to cut the rate not in the Jul FOMC meeting but later in Sep. - Bitcoin rose slightly above 59,250 USD (+1.66%). Ether outperformed bitcoin by approaching 3,200 USD (+3.60%). - Gold inched above 2,400 USD per troy ounce (+0.83%). Silver fell below 31.00 USD per troy ounce (-1.35%). - USOIL plunged closer to 81.00 USD per barrel (-1.99%). - The US dollar index (DXY) was pressured to close near 104.00 (-0.76%). - US stock indices closed mixed, with US30 advancing by 1.60% last week and outperforming other indices. - The week's primary foci are the US retail sales and inflation data in the UK and the EU. Aside from that, the ECB interest rate decision may help markets to gauge the euro's strength. Announcements Mon - Holiday: JP Marine Day; CN GDP (YoY) (Q2), Fed Chair Powell Speaks Tue - US Core Retail Sales (MoM) (Jun), US Retail Sales (MoM) (Jun) Wed - UK CPI (YoY) (Jun), EU CPI (YoY) (Jun), US Crude Oil Inventories Thu - EU Deposit Facility Rate (Jul), ECB Interest Rate Decision (Jul), US Initial Jobless Claims, US Philadelphia Fed Manufacturing Index (Jul), ECB Press Conference Disclaimers: This is not investment advice. Past performance is not an indication of future results. Your capital is at risk, please trade responsibly. Trading is risky. Excess volatility increases risks further. Be cautious. As with all major economic releases, there could be significant price volatility with this type of announcement. Volatility may work against you as well as for you.

Which factors will drive US500 more: Fed rate cuts or a weakening economy? - Inflation data showed the Jun CPI fell 0.1% MoM, contrary to the expected 0.1% rise. Annually, it increased by 3%, below the forecasted 3.1%. These figures heightened expectations that the Fed could start cutting rates as soon as the Sep policy meeting. - Despite falling inflation and increased chances of a Fed rate cut, the US stock market fell after the announcement. This may be due to concerns that prolonged high interest rates have slowed the economy and that cooling inflation is the result of a weak economy. - Fed Chair Jerome Powell acknowledges signs of weakness in the U.S. economy but remains confident in a soft landing scenario. - The US500 consistency records a new all-time high. The rally shows strong momentum strength and is likely to move higher, with no trend reversal signals yet. - If US500 closes above its resistance at 5650, the last swing high, the price may rise further toward the 5800 target level. - On the contrary, returning below its support at 5515 may indicate its potential to retest the 5350 ""Resistance Become Support"" level. Disclaimers: This is not investment advice. Past performance is not an indication of future results. Your capital is at risk, please trade responsibly. Trading is risky. Excess volatility increases risks further. Be cautious. As with all major economic releases, there could be significant price volatility with this type of announcement. Volatility may work against you as well as for you.

What is driving the gold price chart into a frenzy? Find out by watching this week's market outlook: https://www.youtube.com/watch?v=v8seHEjJpMw

Is BTC on the decline? How low will it go? Watch to find out more 📈

Will the supply-demand dynamics support oil prices? - Hurricane Beryl's supply disruption concern has receded significantly as the disruption is not as bad as anticipated. - Meanwhile, the American Petroleum Institute (API) reported that crude stockpiles shrank by 1.92 mln barrels last week, aligning with a drawdown at Cushing, Oklahoma. - However, worries about lower Chinese imports have pressured oil prices amid a slower recovery. - USOIL has returned to its sideways range of around 78.50-81.50 USD per barrel after retesting 84.00 USD per barrel. - If USOIL retraces deeper below 81.50 USD per barrel, the price may return to 78.50 USD per barrel. - Conversely, if USOIL returns above 81.50 USD per barrel, the price may retest 84.00-84.50 USD per barrel. Disclaimers: This is not investment advice. Past performance is not an indication of future results. Your capital is at risk, please trade responsibly. Trading is risky. Excess volatility increases risks further. Be cautious. As with all major economic releases, there could be significant price volatility with this type of announcement. Volatility may work against you as well as for you.

Will central banks' buying spree support gold prices further? - To diversify its investments, the Czech Republic's central bank increased its gold reserves by 1.8 metric tons in Jun to 41.5 metric tons. - Meanwhile, PBoC has halted its buying spree for the second month after an 18-month streak of purchases, pressuring gold prices recently. - However, market participants perceived the unclear timing of the Fed funds rate cut, as testified by Fed Chair Jerome Powell to Congress, as hawkish. - XAUUSD has strengthened since last week after bouncing from its support at 2,300 USD per troy ounce. The price approached the resistance at 2,400 USD per troy ounce but retraced before reaching the level. - If XAUUSD closes above its resistance at 2,400 USD per troy ounce, the price may challenge its all-time high and potentially record a new high. - On the contrary, XAUUSD may retest its support at 2,300 USD per troy ounce if the price fails to maintain its upward momentum. Disclaimers: This is not investment advice. Past performance is not an indication of future results. Your capital is at risk, please trade responsibly. Trading is risky. Excess volatility increases risks further. Be cautious. As with all major economic releases, there could be significant price volatility with this type of announcement. Volatility may work against you as well as for you.