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NAGA Weekly Recap July 28 - August 1, 2025

From easing trade tensions to oil surges and a rising dollar, this week’s market recap breaks down the biggest shifts across equities, commodities, and currencies.

1 August 2025

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Gladys Eguia

This week’s spotlight was all about big-ticket trade talks, with the US-EU deal stealing headlines. But just as that dust settled, the market’s focus flipped to the next batch of question marks with other global players.

Even with a few answers in, fresh tariffs are shaking up global supply chains and forcing a rethink on profit projections. The result? A market vibe that's cautious, not panicked—traders are staying nimble across indices and FX, waiting for a clearer signal in the noise.

It is important to remember to assess your financial situation and risk tolerance, before engaging in copy trading. Past performance and forecast are not reliable indicators of future results.

Policy Shifts, Trade Jitters & Market Mind Games

Markets leaned into caution as traders parsed the Fed’s latest signals and weighed the ripple effects of shifting trade tariffs. With inflation still sticky and growth trajectories under watch, attention turned to how these policy moves could reshape the economic outlook. Defensive strategies took the spotlight, as participants tightened risk management and stayed alert for any signs of a shift in central bank tone ahead of key labor market data.

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Equities Catch a Break Amid Easing Trade Pressure
Equity markets found firmer footing as trade tensions cooled and corporate earnings gave investors something to cheer about. The S&P 500 and Nasdaq held strong, lifted by upbeat guidance and fading fears of aggressive tariff impacts. European indices like the DAX and FTSE 100 followed suit, balancing mixed local data with a more optimistic global trade backdrop. Energy stocks stood out, riding the momentum of rising oil prices to boost overall market performance.

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Commodities Split: Oil Climbs, Gold Loses Shine
Oil prices surged as Brent and WTI rallied on improved market sentiment and rising demand signals. At the same time, gold slipped as investors backed away from safe-haven plays, rotating into riskier assets amid easing fears and a more optimistic outlook. The shift highlighted growing confidence in the broader market, pulling capital away from defensive positions.

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Dollar Flexes on Fed Expectations
The US Dollar rallied across major pairs, with EUR/USD, GBP/USD, and USD/JPY all reflecting the greenback’s strength. Solid economic data and a recalibrated view of the Fed’s policy stance gave investors reason to lean into dollar-denominated assets. As risk appetite returned and rate hike expectations stayed in play, the dollar became a magnet for capital flows, shrugging off earlier caution in the FX space.

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IMPORTANT NOTICE: Any news, opinions, research, analyses, prices or other information contained in this article are provided as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. Past performance is not an indication of possible future performance. Any action you take upon the information in this article is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this article.

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