Key Week for Markets
1. This is probably one of the most important weeks of the summer. There’s a lot happening and plenty of market‑moving data ahead.
The U.S. has reached a trade deal with the EU, which is encouraging right after the Japan deal. It seems like countries and regions are finally finding some common ground.
But keep this in mind: the China deal deadline is August 1—expect a lot of noise around it.
Canada and Mexico are likely next in line for trade negotiations?
Economic Data: A Packed Calendar
2. This week is stacked with major reports:
Tuesday: U.S. JOLTS report
Wednesday: Bank of Canada and Federal Reserve decisions, U.S. advance GDP, and the Bank of Japan at night
Thursday: Canadian GDP and U.S. PCE index
Friday: U.S. jobs report
There’s also plenty of data coming out of other major economies.
Earnings Season and Market Sentiment
3. Earnings season is in full swing. Like the data calendar, many big companies report this week.
Large-cap names can move indices, but so far, there’s nothing extraordinary. Let’s see how the week unfolds.
Markets are at all‑time highs with lots of optimism, but I still think caution is needed between now and October.
Commodities: Watching the Charts
4. Oil: $65 looks like a solid floor. Trump and Russia headlines could act as catalysts.
Copper: Stalling a bit but still in uncharted territory; China headlines could move it.
Silver: Similar to copper—stalling but holding above key resistance.
Gold: Charts look bearish right now, but there’s not much negativity around it.
Rates, Dollar, and Bitcoin
5. A rate cut from the Bank of Canada on Wednesday? Highly unlikely. The bond market now suggests no further cuts this year—a disappointment for those expecting lower rates.
Big picture: yields are rising globally. “Higher for longer” is becoming a reality.
The U.S. dollar index has stabilized recently.
And, Bitcoin continues to struggle breaking above $120,000.