University of Michigan and Mixed Session – Market wrap for the North American session - July 18

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Log in to today's North American session recap for the July 18, 2025.

Today's session has been a bit muted, with the U-of-Mich Release being a tiny bit worse than expected, but Inflation Expectations still a bit lower than previous reports.

Some Profit-taking has been spotted in Equities after a very decent beginning to the earnings week.

The FED just entered it's blackout Period – A two-week period before the upcoming Rate Decision.

For the rest, there hasn't been much except for a sell-the-news on Cryptos after the US Senate passed three bills for more widespread adaptation of Digital Assets – Hardcore Crypto aficionados would estimate that these developments go against the core principles of Cryptocurrencies that aim to decentralize finance.

The retracement is still nothing compared to the huge rally from this week.

Sentiment still has to be monitored closely this week as despite shrugging of largely unadvanced Trade Tariff talks, the overall mood is starting to emit bizarre vibes.

Read More: July PMI Week, NZ Inflation and ECB's Rate Decision – Markets Weekly Outlook

Daily Cross-Asset performance

Cross-Asset Daily Performance, July 18, 2025 – Source: TradingView

The biggest highlight of the day is the sell-the-news reaction in Cryptos mentioned in the introduction and the USD coming back slightly from yesterday's selloff.

ETH is actually seeing some heavy selling flows right now.

A picture of today's performance for major currencies

Currency Performance, July 18 – Source: OANDA Labs

Fairly slow day in Forex but some decent upside in the NZD which has been bashed pretty intensely throughout the week, evolving in a downwards Channel.

Earnings Season: Who is releasing their numbers Monday?

Earnings Calendar for July 21st – Source: Nasdaq.com

Expect more Earnings from Personal Consumption sectors including Verizon and Dominos.

A look at Economic Data releasing in the Monday session

For more details, check out the MarketPulse Economic Calendar

Sunday evening will see the release of the PBOC Rate Decision and the New Zealand Inflation data (exp 0.6%) – For NZD and AUD traders, don't forget to log in at the 17:00 P.M. open. on Sunday.

CAD Traders will also need to monitor the Canadian Business Outlook Survey which tends to shift Inflation expectations, hence Rate expectations.


Safe Trades and Good Weekend!

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