![Mastering trade triggers: How to enter trades with confidence [Video]](https://editorial.fxstreet.com/images/Psychology/happy-financial-brokers-44694248_XtraSmall.jpg)
AUD/USD: Upside appears capped around 0.6800
AUD/USD halted its multi-day recovery after faltering once again near the key 0.6800 mark on the back of a modest advance in the US Dollar and the bearish performance of the risk-linked galaxy.
EUR/USD keeps its constructive outlook in place so far
EUR/USD printed new monthly highs north of 1.0900 the figure, although it met some renewed downside pressure on the back of the lacklustre recovery attempt in the Greenback ahead of key data releases on Tuesday.
Gold on its route to retest record highs at $2,450
Gold regains its traction and trades in positive territory slightly above $2,420 after dropping toward $2,400 at the beginning of the week. Investors await Fed Chairman Powell's appearance at the Economic Club of Washington.
Ripple whales buy 300 million XRP in two days, altcoin holds steady above key support
Ripple (XRP) noted the highest weekly gains in 2024 over the weekend as XRP holders celebrated the one-year anniversary of Judge Torres’ ruling in the SEC vs. Ripple lawsuit. XRP rallied to a peak of $0.5661 on Saturday, July 13.
Failed assassination marks latest escalation in uncertainty
Following the shocking assassination attempt on former President Donald Trump, the nation is left wondering exactly why it happened as well as what may be coming next. There are already questions about whether the Secret Service, which answers to President Joe Biden, was incompetent or worse.
DEEPER DIVE
The geopolitical influence on global trade
Geopolitics have been top of mind over the past few years as geopolitical developments have, at times, rattled financial markets and disrupted global economic activity. So far, geopolitical events have only caused temporary bouts of market volatility and activity disruptions.
Will debt sink the American empire?
Will Debt Sink the American Empire?" So asks the Wall Street Journal, in an uncharacteristically gloomy article for the bull market's paper of record. They kick off with the problem: America is "cruising" into an uncharted sea of federal debt, with a government seemingly incapable of turning it around.
Despite import decline, net exports to slice Q2 real GDP growth
The U.S. international trade balance worsened for the second straight month in May, leaving the deficit at its widest position since late 2022. A resilient domestic U.S. economy and steady dollar strength are supportive of a widening deficit this year.
FXS Signals
Technical Confluences Detector
Gold: XAU/USD on its route to retest record highs at $2,450 Premium
Gold price extends gains above the $2.400 mark, approaching its all-time high of $2,449.92. XAU/USD shed some ground at the beginning of the day amid resurgent US Dollar demand on the back of weekend news. Former President and current Republican candidate Donald Trump suffered an assassination attempt while on campaign in Pennsylvania, a headline that initially spurred risk-aversion.
However, the Greenback quickly lost ground as investors lifted bets that Trump could win the upcoming presidential election and loosen the fiscal policy. Meanwhile, Moody’s Credit Rating Agency said the Federal Reserve (Fed) could begin easing the monetary policy as soon as this month, as the central bank is scheduled to meet on July 30-31. Furthermore, analysts at Moody’s expect the Fed Funds Rate to be reduced by 50-75 bp in 2024 and another 100-125 bp through 2025. As a result, stock markets rallied, and Wall Street hit record highs.
CRYPTOCURRENCIES
Crypto Today: Bitcoin, Ethereum and XRP what to expect as SEC executive says Howey test applies to cryptos
Bitcoin trades above $62,500 on Monday, sustains above key support as head of US SEC enforcement division says Howey test applies to cryptos. Ethereum and XRP trade above key support, extending gains by nearly 3% on the day.
Ripple whales buy hundreds of millions of XRP tokens as the altcoin rallies
Ripple (XRP) noted the highest weekly gains in 2024 over the weekend as XRP holders celebrated the one-year anniversary of Judge Torres’ ruling in the SEC vs. Ripple lawsuit. XRP rallied to a peak of $0.5661 on Saturday, July 13.
Bitcoin surges past $60,000 as ETFs report $1.04 billion inflows last week
Bitcoin breached above the descending trendline on Sunday and trades 3.5% up at $62,924 at the time of writing on Monday. On-chain data indicates a decrease in miners' selling activity, complemented by US spot Bitcoin ETFs recording $1.047 billion in inflows last week.
JasmyCoin price surges following partnership with NOWPayments
JasmyCoin price breaks above a descending channel, signaling a break in market structure from bearish to bullish. NOWPayments announces its partnership with JASMY in Japan. JASMY featured in a Forbes article for coins outperformed Bitcoin in the first half of 2024.
THE STOCK OF THE DAY
QS shares blast off 17% in second day of Volkswagen production rally Premium
QuantumScape (QS) stock is refusing to fade on Friday after its 30% Thursday session spike with shares of the automotive battery maker adding another 17% at the time of publication.
ECONOMIC CALENDAR
WEEKLY FORECAST
EUR/USD: The door appears open to extra gains in the near term Premium
Another auspicious week saw EUR/USD trade with decent gains and extend its positive streak for the third consecutive week, including a visit to the key 1.0900 region for the first time since early June.
GBP/USD: Pound Sterling awaits high-impact UK data for further upside Premium
The Pound Sterling hit a new 2024 top above 1.2950 against the US Dollar. GBP/USD looks to UK inflation and jobs data for a fresh leg higher. The daily technical setup continues to favor Pound Sterling buyers.
US Dollar: Check the king! Premium
The selling pressure in the FX world continued to punish the Greenback this week, sending the USD Index back to the 104.00 region, or multi-week lows, against the backdrop of the strong pick-up in expectations surrounding the timing of the start of the Fed’s easing cycle.
Gold: Turns bullish as US data bolster case for Fed rate cut in September Premium
Gold gathered bullish momentum and climbed above $2,400 on broad-based USD weakness. Investors expect the Fed to reduce the policy rate in September after soft inflation data.
Bitcoin: Investors wonder if BTC troubles are behind
Bitcoin (BTC) stabilized around the $57,000 mark this week, while the German Government persists in transferring Bitcoin to exchanges. Concurrently, US spot Bitcoin ETFs have recorded inflows.
Week ahead – ECB set to hold rates, plethora of data on the way
ECB is not expected to cut in July but will it signal one for next meeting? Retail sales will be the main highlight in the United States. UK CPI report will be vital for BoE’s August decision. China GDP data to kickstart busy week.
![Top three prop trading platforms 2024 [Video]](https://editorial.fxstreet.com/images/Psychology/crumpled-paper-balls-with-eye-glasses-and-notebook-69140099_XtraSmall.jpg)
