Welcome back, traders! Here’s everything you need to know heading into the second full week of July — from global fundamentals to key technical setups we’re eyeing at Propel.

 Key Economic Events This Week

 Central Bank Watch

US Federal Reserve (Wed, July 10):

Fed Chair Powell will testify before Congress. Traders are expecting clues about a potential rate cut in September, especially after June’s softening job data and continued cooling in core inflation.

ECB Minutes (Thu, July 11):

The euro is under pressure as markets await insights into the ECB’s policy easing path, especially after last month’s rate cut.

 High-Impact Data Releases

US CPI (Thu, July 11):

A major event for the USD and risk sentiment. A lower-than-expected print could spark bullish equity and gold momentum, while a hot print may strengthen the dollar and hurt risk assets.

UK GDP (Fri, July 12):

Crucial for GBP pairs. Analysts expect flat growth — any upside surprise could boost the pound, but recession fears are still lingering.

📊 Technical Outlook: Key Setups to Watch

Upon analysing the DXY, we observe potential signs of a reversal, which aligns with current economic indicators. This suggests that the US Dollar may begin to strengthen. Traders can leverage this insight when analysing and executing trades involving USD pairs or instruments influenced by the Dollar’s strength.

 Psychology Tip of the Week

“Trade the plan, not the emotion.”

Avoid reacting impulsively to news events. Let price confirm your bias before committing. Journal your emotions this week and note how they influenced (or distracted) you from your edge.

🎯 Final Thoughts

With central bank signals and CPI prints dominating the headlines, expect volatility to rise. Stay nimble, use clear risk management, and don’t chase price — wait for the market to come to you.

Good luck this week and trade smart!