Forex Signals Brief for Aug 8: DJT, CORZ, Wendy’s Q2 Earnings Close the Week

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Today we have the Canadian employment data, but attentions will be on the Trump Media, Wendy’s and Core Scientific Q2 earnings reports.

Central Bank Moves & Currency Impact

The Bank of England cut interest rates by 25 basis points, a widely anticipated move, but the voting result surprised markets, coming in at a narrow 5-4 split rather than the expected 7-2. Despite the rate cut, the split vote signaled lingering caution among policymakers. This uncertainty has led markets to price in a 50/50 chance of another cut at the BoE’s next meeting.

The move helped the British pound outperform, while the U.S. dollar weakened across the board against major currencies. This shift in rate expectations and diverging central bank paths continues to shape FX flows.

U.S. Equities & Bond Markets

U.S. stocks ended Thursday’s session mixed. The Dow Jones Industrial Average fell 0.51%, unable to hold early gains. The S&P 500 was nearly flat, down just 0.08% while NASDAQ managed to climb 0.35%, closing at a new record high, boosted by strength in tech and AI-related names.

Meanwhile, U.S. Treasury yields ticked higher. The 2-year yield rose 2.3 basis points to 3.723%. 10-year and 30-year yields each climbed 1.4 basis points to 4.246% and 4.825%, respectively.

Commodities & Crypto Markets

Crude oil prices declined and appear to be targeting the bottom of a swing range near the $63.50 level, reflecting broader concerns over slowing demand and rising inventories. In contrast, Bitcoin surged by $2,456 to $117,487, fueled by a major policy shift.  President Trump signed an executive order allowing 401(k) retirement accounts to invest in Bitcoin and alternative assets like real estate. This marks a significant change in institutional access to crypto markets.

U.S. Labor Market & Economic Data

Initial jobless claims rose slightly to 226,000, up from 219,000 the previous week, while continuing claims reached 1.974 million, above forecasts of 1.950 million. This suggests mild softening in the labor market, but not enough to suggest a broader downturn yet.

Labor productivity increased by 2.4% in Q2, ahead of the 2.0% forecast, while unit labor costs rose 1.6%, showing that companies are managing efficiency gains even as wages rise. These figures helped ease some concerns following a weaker-than-expected Non-Farm Payrolls (NFP) report last week. Also notable, wholesale sales rose 0.3%, beating the expected 0.1%, showing resilience in business demand.

Key Market Events for the Day

Q2 2025 Earnings Scheduled

Core Scientific, Inc. (CORZ)

• Set to report its Q2 2025 earnings today.
• Investors will closely monitor results amid growing interest in crypto mining profitability and AI-related infrastructure plays.
• Market focus will likely be on energy costs, hash rate growth, and hosting revenue.

Trump Media & Technology Group Corp. (DJT)

• Scheduled to announce its Q2 2025 earnings.
• The company remains under a media spotlight due to its political ties and digital platform growth.
• Traders will be watching for any update on user engagement, ad revenue, and platform scaling efforts.

The Wendy’s Company (WEN)

• Also releasing its Q2 2025 earnings results today.
• Key metrics will include same-store sales growth, international expansion performance, and cost inflation impacts.
• Analysts are paying attention to how promotional strategies and breakfast offerings are driving foot traffic.

Canadian Jobs Report (Today)

Markets await Canada’s latest employment figures, which come at a delicate time for the Bank of Canada (BoC). The central bank remains on hold, looking for clear signs of economic slowdown before resuming cuts.

• The BoC recently noted labor market softness, with June unemployment at 6.9%.
• Weakness appears concentrated in trade-sensitive sectors, while non-trade-related industries continue to hire.
• A weak report could tilt expectations toward more dovish BoC action in the fall.

Bank of Japan: No Surprises, Cautious Tone

The Bank of Japan (BoJ) maintained its short-term rate at 0.50%, with unanimous support. The BoJ reiterated it will act cautiously to ensure stable 2% inflation and only raise rates if the economic trajectory stays on track.

Forex Signals Update

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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