Market Wrap Summary - July 14, 2025

Market Overview

The North American session on July 14, 2025, experienced erratic market flows, beginning with a slow start in Forex that transitioned into a rally for the US Dollar. Bitcoin reached new highs before retracting, while commodities faced downward pressure.

Geopolitical Influences

Recent geopolitical developments, particularly the conclusion of a significant NATO deal between US President Donald Trump and Russian President Vladimir Putin, have influenced market dynamics. This deal includes provisions for new weapon supplies to Ukraine, coinciding with ongoing G20 discussions in Johannesburg, South Africa.

Increased tensions in the Kursk Region have contributed to a decline in oil prices, which fell over 2% during the session, with WTI crude oil closing below the $67 mark.

Commodity Performance

Natural gas prices rose over 3% following a gap up in weekly futures. In contrast, metals experienced a downturn, with gold dropping by 0.36% and platinum and palladium falling by 3.50%. The standout performer in commodities was orange juice, which faced a squeeze due to concerns over US tariffs on Brazilian exports.

Equity and Currency Markets

Despite a generally positive session for equities, the VIX futures increased, reflecting market uncertainty ahead of the earnings season, which officially begins tomorrow with major US banks reporting. The UK FTSE 100 reached new all-time highs, nearing the 9,000 mark.

In currency markets, the Canadian Dollar and US Dollar showed strength, while Asia-Pacific currencies corrected after a period of outperformance. The session lacked significant data releases, with only positive trade data from China noted.

Upcoming Economic Data

Looking ahead, the market is poised for volatility with the release of key inflation data from Canada and the US scheduled for tomorrow at 8:30 A.M. ET. Canadian CPI is expected to rise by 0.1% month-over-month, while the US consensus anticipates a 0.3% increase for both core and headline CPI.

Additionally, a series of Chinese economic data will be released later tonight, and US bank earnings from major institutions such as JP Morgan and Wells Fargo are also on the horizon.

Conclusion

As the markets await crucial economic indicators and earnings reports, traders are advised to remain cautious and informed. The session also coincided with France's National Day, marking a festive occasion for the French community.