It is another busy week ahead for traders, with several potentially high-impact events that could shift market sentiment and Fed rate hike bets. July closed out with strong gains for risk assets.
The Euro slightly gained as the US Dollar weakened. US GDP shrinking once again placed more focus on a pivot from the Federal Reserve. Are markets wrong? All eyes are on non-farm payrolls data.
Gold prices could continue to recover in the near term as weakening US economic data could prompt a Fed monetary policy pivot later this year, a scenario that could weigh on Treasury yields.
It was a big week for stocks as the Fed hiked rates by another 75 basis points, helped along by earnings reports from Apple and Amazon. Is the bear trend over?