(By ATFX Analyst Team)
Key TakeawaysThe Fed is expected to keep rates unchanged, but the statement and press conference are the main focus. This meeting will be a critical window for markets to assess the Fed’s communication style and policy framework, and it will set the tone for shorter-term volatility. On equities, attention is on Microsoft and Meta’s after‑hours earnings, which will test whether massive AI investments can translate into profits. Their results and capex guidance will directly shape the trajectory of tech stocks and, by extension, overall market sentiment. |
Global Market Review 29/07/2026
- U.S. equities closed mixed Tuesday: Boeing and Coca‑Cola gains offset semiconductor weakness. Dow +1%, S&P 500 +0.2%, Nasdaq ‑0.2%.
- Investors trimmed risk exposure ahead of the Fed decision. Dollar eased slightly but remained near one‑month highs.
- Gold fell over 1% to one‑week lows, pressured by the dollar’s strength.
- Oil dropped by over 3%, extending declines to the lowest since early July.
Key Events Today:
Microsoft, Meta Earnings Report ***
- 04:30 API Crude Oil Stock Change ***
- 09:30 AU CPI YoY JUN **
- 20:30 EIA Crude Oil Stocks Chang **
July 30 (GMT+8)
Apple, Amazon Earnings Report ***
- 02:00 Fed Interest Rate Decision ***
- 02:30 Fed Press Conference ***
- 16:00 EU GERMANY GDP QoQ Flash Q2 **
- 17:00 EU GDP QoQ Flash Q2 ***
- 17:00 EU Unemployment Rate JUN **
- 19:00 BoE Interest Rate Decision & Meeting Minutes ***
- 20:00 EU GERMANY CPI MoM Prel JUL **
- 20:30 US Core PCE Price Index MoM JUN ***
- 20:30 US GDP QoQ Adv Q2 ***
- 20:30 US Initial Jobless Claims ***
- 21:15 BoE Gov Bailey Speech ***
Markets Analysis 29/07/2026
- Resistance: 1.1422 / 1.1436
- Support: 1.1362 / 1.1348
EUR/USD rebounded on Tuesday as the dollar eased, but the pair remained below 1.1400 as investors avoided big bets ahead of the Fed decision.
Analyst View: Halted a three‑day slide, rebounding from late‑June lows. Watch resistance at the 10‑day MA (1.1400) and 20‑day MA (1.1412). Fed guidance is key.
Bias: Range‑bound
- Resistance: 1.3350 / 1.3399
- Support: 1.3251 / 1.3203
Sterling held near monthly lows on Tuesday, awaiting dual guidance from Fed and BoE decisions.
Analyst View: Trading in the lower range. Central bank decisions will determine whether GBP/USD breaks above 1.3300 or falls towards 1.3250.
Bias: Wait and see
- Resistance: 164.02 / 164.29
- Support: 163.39 / 163.11
USD/JPY edged higher, remaining near multi‑decade highs. Fed and BoJ decisions loom, while widening yield differentials and Middle East risks continue to pressure the yen.
Analyst View: Two‑day rise brought the pair near last week’s highs. Likely to remain in the high range until the Fed decision breaks the pattern.
Bias: Wait and see at high levels
- Resistance: 87.22 / 90.38
- Support: 80.26 / 77.14
Oil fell for a third day to two‑week lows as U.S.–Iran strikes paused. Sources suggest OPEC+ may suspend output increases from October for three months.
Analyst View: Oil rebounded on Tuesday after finding support at the 20‑day MA. Watch the 10‑day MA near $84 as initial resistance.
Bias: Mild rebound
- Resistance: 4063 / 4087
- Support: 3990 / 3960
- Resistance: 58.42 / 59.01
- Support: 55.92 / 55.34
Gold hit one‑week lows on Tuesday, consolidating above $4,000 as markets awaited guidance from the Fed. Silver also weakened.
Analyst View: Gold slipped below the 10‑day MA. If the Fed signals possible hikes, the risk of a drop below $3,990 increases; a dovish stance could lift it towards the 20‑day MA resistance.
Bias: Under pressure
- Resistance: 53,062 / 53,292
- Support: 52,533 / 52,299
Dow surged over 500 points on Tuesday, supported by strong earnings, falling oil prices, and sector rotation away from semiconductors.
Analyst View: Reached two‑week highs near 52,900, reclaiming above the MAs. Fed decision will determine whether the rebound extends.
Bias: Mildly bullish
- Resistance: 28,117 / 28,229
- Support: 27,632 / 27,518
Nasdaq slipped on Tuesday as chip stocks hit lows, offsetting gains in major tech stocks. Apple briefly topped a $5 trillion market cap.
Analyst View: Nasdaq hit a low since May but recovered some losses late. Watch Fed decision and tech earnings; reclaiming above 28,000 would improve signals.
Bias: Weak trading
- Resistance: 65,872 / 66,937
- Support: 62,349 / 61,266
Bitcoin retreated on Tuesday, briefly slipping below $62k as an AI‑linked tech sell‑off spilled into crypto. Investors braced for the Fed decision.
Analyst View: Tested two‑week lows, holding nearly $62,700 support. Short‑term pressure persists; resistance remains near the MA ranges.
Bias: Weak trading
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