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USDCAD
Trying to extend its 5 day daily up pattern (green candles) ahead of the BoC rate decision.
Faces a a key level at 1.3798, the June high. This also suggests 1.38 will be pivotal going forward.
Support is at 1.3758 on multiple time frame charts, suggest using 1,3750 as well.
USDCAD DAILY CHART
An oldie but goodie and very relevant to today’s market
How You Can Use Currency Crosses to Trade Spot Forex
EURGBP
The seller is back
Tug-of-war between GBPUSD (up) and EURUSD (back to 1.1550)
So far, market is showing less ability to absorb the GBPUSD buy side of the cross
Next support at .8636 (cited yesterday) being tested (8596 below it)
Back above 8655-60 needed to negate the intra-day risk.
EURGBP DAILY CHART
Using my platform as a Heatmap shows…
… the dollar trading mixed to softer, JPY the outperformer
EURUSD has so far been unable to shake a focus from 1.1550
USDJPY testing sub-148.00,,, not clear whether it was reacting to lower US yields or tsunami warnings.
Gold remains stuck in the mud, holding above 3300 and trying to but yet to regain upward momentum.
US stocks treading water ahead of the FOMC and earnings reporting
US bonds are steady after rising sharply (lower yields) yesterday.
Full calendar of evebts
FOMC & BoC Rate Decisions, US ADP (Jul), GDP Advance (Q2), PCE Advance (Q2), Pending Home Sales (Jun)
JP225/Nikkei 225
Following the recent bullish spike triggered by the US-Japan trade agreement, the Nikkei 225 surged above the 41,000 level, hitting its highest point since July 2024.
According to CNBC, Japan’s Prime Minister Shigeru Ishiba said auto tariffs on Tokyo will be lowered to 15% from the current 25% across countries. This news has been followed and supported by the automotive stocks rallying to its big uptrend. Since the rally from last week, the price action has started to cool off.
JP225 has been gradually pulling back as the market stabilizes. Although its pullback appears controlled and slowed its momentum and we haven’t yet seen clear signs of whether this is just a consolidation or a chance for another uptrend amidst all the news.
Right now, according to CNBC, Asia-Pacific markets close mixed as investors await details of U.S-China talks.
These discussions especially US Tarriff deals could significantly impact market direction yet again. It can create another trade shift across global indices and that includes JP225.
At the end of last week NZD/USD was in a pullback phase within a broader uptrend, holding above strong daily support with bullish pressure still present. At the time, the move looked like a healthy correction, with potential for upside continuation.
Since the start of the trading week, the price opened with a strong downside move losing its last week’s momentum and failed to sustain higher levels.
We’re currently seeing it form a bearish channel following the early week’s movement and currently, its sitting at 0.5960 where it struggled to break all the way down. New resistance at around the 0.5940 and another at 0.5900.
Strategy Acquires 21,021 Bitcoin, Now Holds 628,791 Coins: Why Is BTC Price Dropping?
Strategy (Nasdaq: MSTR, STRK, STRF, STRD), the largest corporate Bitcoin BTCUSDT holder, has made a bold move to strengthen its balance sheet. The Bitcoin treasury company announced on Tuesday, July 29, that it had closed its initial public offering of around 28 million shares of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) at a public offering price of $90, thus raising about $2.52 billion.
Strategy announced that the proceeds from the IPO of the newly formed vehicle were used to purchase 21,021 Bitcoins.“Strategy has acquired 21,021 BTC for around $2.46 billion at about $117,256 per Bitcoin and has achieved a BTC Yield of 25.0% YTD 2025. As of 7/29/2025, we hodl 628,791 BTC acquired for approximately $46.08 billion at around $73,277 per Bitcoin,” Michael Saylor, Chairman at Strategy, noted. Strategy Leads an Army of Corporate Investors in Bitcoin Accumulation Strategy’s STRC fundraising was the largest U.S. IPO in 2025 to date. The company has led an army of 282 corporations that have accumulated over 3.61 million Bitcoins to date, according to BitcoinTreasuries.
More institutional investors have implemented a Bitcoin treasury management system to beat inflation and macroeconomic uncertainties.Why Has BTC Price Faltered?
Bitcoin price is affected by a wide range of factors, both on-chain and external fundamentals. Although on-chain data shows an aggressive accumulation of Bitcoin by whale investors, short-term holders and spot traders have been expecting heightened volatility ahead of Wednesday’s FOMC statement and the Fed’s federal funds rate announcement.
According to market data from Coinglass, Bitcoin’s Futures Open Interest (OI) dropped by over 5 percent on CME to $16.9 billion, signaling mild panic selling.
Nonetheless, the overall BTC’s OI remained elevated compared to last quarter and year, thus signaling that a macro bullish outlook remains strong.
Posted in our blog ahead of the FOMC meeting
The Fed’s Current Dilemma: Independence, Politics, and Rate Decisions
S&P 500 Breaks Winning Streak After U.S.-China Meeting Ends Without a Deal The Dow Jones Industrial Average fell more than 200 points on Tuesday, with investors considering a possible tariff extension for China and a fresh batch of corporate earnings.
U.S. and Chinese trade negotiators discussed potentially extending a tariff truce over two days of talks but haven’t yet come to an agreement, senior officials said Tuesday.
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer said they would report back Wednesday to President Trump, who will make the final decision on an extension for the truce set to expire on Aug. 12. The Dow fell 0.5%, or 204.57 points.
The S&P 500 declined 0.3%, ending its streak of six consecutive record highs, and the Nasdaq composite lost 0.4%. Some analysts say that investors are more focused on picking out the winners and losers from tariffs and newly minted trade deals, rather than the fears of a deep recession and runaway inflation that gripped markets months earlier.
The latest batch of earnings reports showed signs of tariff-induced stress for American corporations. Chrysler maker Stellantis said it expects a roughly $1.7 billion hit from tariffs this year. Consumer bellwether Procter & Gamble said shoppers were delaying purchases and searching for discounts.
Whirlpool shares declined 13% after the company slashed its outlook but said it would eventually benefit from tariff policies. Investors also parsed data that suggests the economy is weakening.
The goods-trade deficit shrank last month, as fewer goods traded in either direction across U.S. borders. Imports dropped more than exports, according to preliminary figures from the Commerce Department.
The Conference Board’s latest consumer data showed that Americans are feeling better about the economy but are still worried about tariffs and the labor market.
Elsewhere, the 10-year Treasury yield moved lower, falling to 4.329% from 4.418% on Monday.
Wall Street is also looking to the Federal Reserve’s interest-rate decision due Wednesday. Central bank officials are expected to hold rates steady, but a press conference from Fed Chair Jerome Powell following the decision could shed light on the Fed’s openness to cutting rates at its next meeting in September.
NIO Inc.
Resistances: 4.90, 5.10 & 5.20
Supports: 4.65, 4.40 & 4.30
This is a correction after prolonged rally, so it can go deeper than our stomach would like to handle…
I would like to see 4.40 holding and substantial build up , for another test of highs.
It might take a week or so.
However, below 4.40 Nio would be put on a defensive and any attempt to reach 5.50 would be delayed a lot.
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