market outlook

Market Summary (Jul 23, 2025)

Josh

23 Jul 2025 — 1 min read

We’re seeing a clear shift into risk-on mode after the US–Japan trade deal removed significant tariff uncertainty and paved the way for stronger equity, commodity and high-beta FX demand (AUD, NZD, CAD, GBP). At the same time, a dovish Bank of Japan and political turnover in Tokyo are exerting downward pressure on the yen, while the US dollar remains capped by lingering Fed uncertainty and technical resistance. Gold is stuck in a tug-of-war—BoJ easing and Japan’s leadership change support bullion, but reduced safe-haven demand from trade détente is keeping prices rangebound around key support near $3,370.

BoJ Deputy Governor: little immediate need to raise rates

Market Summary and Key Outlook (as of July 29, 2025)

Global Financial Condition Highlights * Trade tensions eased as the US-Japan deal (15% reciprocal tariffs; $550 bn investment) and a 15% US-EU tariff compromise were finalized, removing major sources of uncertainty. * Fed poised to adopt a dovish tone at Wednesday’s FOMC, laying groundwork for a September rate cut; President Trump’

Market Summary (Jul 25, 2025)

We’re seeing a risk-on tilt as US–EU trade talks edge toward a deal, reducing tariff uncertainty. That dynamic is weighing on safe havens—gold may test its recent support just above 3 300 before resuming an uptrend, and the yen is under pressure as BoJ policy stays dovish

Market Summary and Key Outlook (as of July 21, 2025)

Global Financial Condition Highlights * Fed leadership uncertainty – persistent rumors around Chair Powell’s potential dismissal keep the USD under pressure and bolster safe-haven demand. * Softer US producer inflation – June core PPI undershot forecasts, reinforcing a dovish tilt for monetary policy. * Geopolitical tensions – tariff threats on EU goods and continued Ukraine

Market Summary (Jul 18, 2025)

We continue to view gold as fundamentally bullish amid lingering Fed uncertainty and mixed U.S. data, with the metal holding above its higher-timeframe support trendline and bumping up against near-term resistance around $3,350. While short-term chop may persist without a fresh catalyst, a decisive breakout would reinforce the

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Market Summary and Key Outlook (as of July 29, 2025)

Market Summary (Jul 25, 2025)

Market Summary and Key Outlook (as of July 21, 2025)

Market Summary (Jul 18, 2025)