Daily summary: Dollar dominates FX market; Oil gains 2.25% 📣

18:54 28 July 2025
  • Market sentiment today was largely shaped by news of a trade agreement between the U.S. and the EU. The countries agreed to implement 15% tariffs, which will also cover sectors previously at risk of higher duties, such as automobiles and pharmaceuticals (though communication from Brussels and Washington on these sectors remains inconsistent).

  • U.S. stock indices are holding their Friday valuations. The S&P 500 remains around 6,380 points, and the Dow Jones hovers near 44,800 points. The broad-based Nasdaq index is performing best, up 0.3%.

  • The U.S. dollar is the strongest G10 currency today. Its appreciation follows the signing of several trade deals by President Donald Trump, most notably the U.S.–EU agreement announced on Sunday.

  • Tesla shares are up 4% after confirming a massive $16.5 billion semiconductor supply deal with Samsung. Elon Musk announced the collaboration will focus on producing Tesla’s next-generation AI6 chips at Samsung’s new Texas facility.

  • AMD shares are also up 4% after news that the company plans to raise the price of its Instinct MI350 AI accelerator from $15,000 to $25,000 — a nearly 70% increase. Despite the hike, the chip remains cheaper than Nvidia’s competing Blackwell B200 model.

  • European indices are mostly down. Germany’s DAX leads the losses, down 1%, followed by France’s CAC 40 (-0.4%) and the UK’s FTSE 100 (-0.4%). Italy’s IT40 is flat, while Poland’s WIG drops over 1.6%.

  • Friday’s oil price declines have been fully offset by Saudi Aramco’s decision to raise prices for the Asian market — the second consecutive month of such a move. WTI crude is up 2.25% to $66.50.

  • Lower geopolitical uncertainty and a stronger dollar are weighing on precious metals today. Gold is down 0.8%, and silver is down 0.3%.

  • The cryptocurrency market is experiencing its first notable correction in a while. Bitcoin is down 1.40%, Ethereum 2.10%, and the total market cap of altcoins has fallen by 1.90%. Despite the dip, both Bitcoin and Ethereum remain within their upward consolidation channels.

  • The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Truth Social Bitcoin ETF until September 18 — the final deadline. Reviews of other crypto ETF applications, including the Grayscale Solana Trust and Canary Capital Litecoin ETF, have also been delayed.

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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