The U.S. dollar is starting the new trading week little changed against the major currencies. Against the euro and the Japanese yen, the greenback is hovering near unchanged levels. The pound is slightly weaker, with GBPUSD down 0.16%, reflecting modest USD strength. The largest moves for the dollar are against the Australian dollar, up 0.21%, and the New Zealand dollar, up 0.33%. In the video above, I analyze EURUSD, USDJPY, and GBPUSD from a technical standpoint, focusing on directional bias, key targets, and the risks to those views. Although the dollar strengthened last week and reached new highs in all three pairs earlier today, it has since pulled back slightly into the start of the U.S. session.
Bitcoin is kicking off the week with fresh momentum, reaching a new record high of $123,236. That marks a sharp jump from Friday’s close of $117,579 and continues the rebound from a brief dip below $100,000 in late June. The rally mirrors past breakouts and has sparked renewed speculation about further upside potential. Investors increasingly view Bitcoin’s surge as part of a broader move away from U.S. dollar assets, driven by concerns over fiscal policy. Gold has also benefited from this trend. Meanwhile, Ethereum has joined the rally, climbing back above $3,000. The rise in digital asset prices is also fueling fresh scrutiny around the use of cryptocurrencies in money laundering schemes.
Over the weekend, President Trump
- Announced a new round of tariffs—30% on both the European Union and Mexic. Trump is liking that the tariffs collected are boosting Treasury coffers.
- In a new Truth Social post, he also redirected criticism toward Fed Chair Jerome Powell, accusing him of fiscal irresponsibility over cost overruns tied to the construction of a new Federal Reserve building and renovations of the current one. Trump called on Powell to resign.
- Additionally, Trump is expected to announce a weapons package for Ukraine, which will include offensive arms. While he has repeatedly stated he does not want to send U.S. troops into war, he has embraced selling weapons to allies. Unlike previous aid efforts that relied on off-the-shelf donations, Trump is pushing for a new model focused on selling both existing and newly manufactured arms—a move that aligns his trade and defense strategies.
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US stocks are lower to start the new trading day with modest points:
- Dow industrial average -104 point
- S&P index -16 point
- NASDAQ index -47.60 point
Looking at the US yields, the yields are mixed:
- 2-year yield 3.897%, -1.6 basis points
- 5-year yield 3.986%, -0.5 basis points
- 10 year yield 4.435%, +1.2 basis points
- 30 year yield 4.95%, +2.8 basis points
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