Movement of last week (week of July 21): NY gold and JPX gold both lost their initial gains and ended lower, with reduced uncertainty surrounding trade negotiations.
Last week (the week of July 21), the New York gold futures price (NY gold) fell for the second consecutive week on a weekly basis. In the first half of the week, the price was driven up by fund buying based on speculation about the dismissal of Fed Chair Powell by the Trump administration, reaching over $3,450, the highest level in about a month and a half. However, it lost some of its gains as the weekend approached.
On July 22, an agreement was reported regarding the Japan-US tariff negotiations, and on the 23rd, President Trump announced the details. There are expectations that this will serve as a template to advance trade negotiations with the European Union (EU), leading to an increase in risk-on sentiment.

This week, major US and Japanese companies are set to announce earnings. Market reactions to US tariff policy shifts are positive, but analysts are watching if companies can reach new highs post-results. Key metrics for these firms have been compiled, highlighting notable trends in stock targeting and earnings projections.

The U.S. stock market experienced strong growth last week, with the S&P 500 and Nasdaq 100 reaching all-time highs, driven by solid economic indicators and growth expectations in various sectors, including technology and industrials.

The essay discusses the unusual rise in Japanese long-term interest rates, beginning in late January, coinciding with the confirmation of U.S. Treasury Secretary Bessent. It explores the impact of U.S. economic policies on Japan and suggests that Bessent's stance against unfair low interest rates may have influenced Japan's monetary decisions, including potential interest rate increases to address yen depreciation pressures.

The U.S. stock market saw significant gains, with the Dow rising 208 points to 44,901.92, supported by positive trade news. Economic indicators showed a decrease in durable goods orders, but the core orders exceeded expectations. Most sectors experienced gains, particularly materials, while certain tech stocks faced declines. Long-term interest rates remained steady.

The new NISA system in Japan, starting in 2024, targets residents aged 18 and older, discontinuing Junior NISA. Parents can invest for their children through NISA accounts or children's accounts, utilizing various strategies to manage and grow funds effectively.

Systems that make it easier for individuals to start "investing" have been established, such as NISA (Nippon Individual Savings Account) and iDeCo (individual-type defined contribution pension plan). However, there are still many people who feel hesitant, thinking that investing seems difficult or that they might incur losses.
Therefore, Kuu-chan, who has the experience of saving 10 million yen over 6 years and is active not only on her blog but also in various media as a "time-saving savings expert," reveals the investment techniques she is currently practicing. We will ask about the points to protect and the mindset to have.
●Kuu-chan Profile●

A wasteful nurse transformed into a "time-saving frugal person" after getting married. By cutting unnecessary expenses, tidying up the house, and studying finance, she achieved savings of 10 million yen in 6 years. Instagram, Y

The BTC market showed fluctuations this week, buoyed by corporate earnings and tariff negotiations, with some selling pressure post-peak. Next week, BTC volatility may increase with upcoming FOMC and corporate earnings announcements impacting prices.

The essay discusses reasons behind the decline of the yen, focusing on hedge fund activities. It suggests that position adjustments before summer vacations and losses on yen buying positions contribute to yen selling. Additionally, it examines the influence of U.S. currency policy on hedge fund strategies.

Motley Fool US Headquarters – From the article posted on July 22, 2025


The technology sector has risen by 614% over the past decade, while the S&P 500 index has only increased by 195%. Technology stocks are expected to maintain their growth momentum over the next decade as innovations such as electric vertical takeoff and landing vehicles (flying taxis), autonomous robots, and robotaxis enter the market.
In this regard, several hedge fund officials purchased shares of Amazon.com [AMZN], Archer Aviation Inc. [ACHR], and Joby Aviation [JOBY] in the first quarter. Here are some examples.

The Tokyo Stock Exchange REIT Index is fluctuating in the 1,800 point range.
J-REIT prices have shown a solid movement. The Tokyo Stock Exchange REIT Index fluctuated in the 1,800-point range on a closing price basis from July 14 to 22. This is the first time since January 2024 that the Tokyo Stock Exchange REIT Index has remained in the 1,800-point range for more than five trading days, representing an increase of nearly 10% compared to the end of 2024.
The stock market has risen significantly in response to the conclusion of Japan-U.S. tariff negotiations, but it seems that there has not been a movement of funds flowing from the J-REIT market to the stock market. Furthermore, following the results of the House of Councillors election, the rise in the 10-year government bond yield, which is a factor contributing to the decline in J-REIT prices, has also been added, but the investment demand for J-REITs from investors has decreased.

Since the "Waka-Taka Boom", the Grand Sumo has been consistently sold out.
This time, I will summarize leisure-related stocks.
The Grand Sumo Nagoya Tournament is bustling with activity. Of course, the new yokozuna, Oshiryu, who is aiming for his third consecutive championship, is drawing attention, but it's also notable that both yokozuna, Toyoshoryu, who is in his third tournament since his promotion, are ranked alongside each other for the first time in four years. The venue has moved to the newly completed "IG Arena," giving it a fresh look. It is said that the venue change for the Grand Sumo honbasho, which is held six times a year, is the first in 40 years since the completion of the Ryogoku Kokugikan in 1985.
Onozato, who was promoted to yokozuna in the fastest time in history after 13 tournaments from his debut, is still just 24 years old. In addition to the new yokozuna, promising young wrestlers are continuously stepping onto the ring, and in each match.

In the midst of experiencing the rising everyday prices, many people might be interested in "point activities" that allow them to accumulate points effectively and use them beneficially. However, it is often the case that they can't accumulate points easily or accidentally let them expire while thinking about using them.
So, with the experience of saving 10 million yen over six years, we asked Kuu-chan, who is active not only on blogs and social media but also in various media as a "time-saving saver," about ways to effectively utilize "point activities" without overdoing it.
● Kuu-chan Profile ●

A wasteful nurse transformed into a "time-saving frugal" person upon getting married. By cutting down on household waste, tidying up the home, and studying finance, she achieved savings of 10 million yen over six years.

The article discusses the promising growth of the AI software market, highlighting two companies: UpRavin and HubSpot. Analysts predict significant stock price increases due to advancements in AI technology and software spending, particularly benefiting these firms.

The essay discusses the impact of the recent Senate elections on the Tokyo market, detailing market trends, volatility, and momentum analysis. Despite maintaining above the 5-day moving average, concerns arise about potential downward trends if price levels do not break out significantly. The current market situation requires careful monitoring of momentum for informed trading decisions.

In the House of Councillors election held on July 20, as widely expected, the ruling coalition of the Liberal Democratic Party and Komeito did not reach a majority, including unamended seats, effectively delivering a "NO" to the Ishiba administration.
However, looking at the election results calmly can provide a different perspective on the future of Japan.
Although the ruling party lost its majority, it performed better than expected.
This time, the ruling party fell short of a majority, resulting in a result below their pre-election target. However, looking at the results, it can be seen that they fell short of a majority by only 3 seats, indicating that public opinion has not completely abandoned the ruling party.
The Constitutional Democratic Party, which should originally serve as a receptacle for critical votes against the ruling party, also saw its number of seats remain flat, failing to capture critical votes from the ruling party.

The US dollar/yen exchange rate has returned to pre-tariff announcement levels following fluctuations triggered by President Trump's tariffs. Despite Japan's lack of intent in currency manipulation, this trend poses challenges in US-Japan trade negotiations, as highlighted by statements from Treasury Secretary Bessent warning against macroeconomic policies that exacerbate trade imbalances.

Bitcoin (BTC) reached a record high on July 14 but has since seen price declines with no clear reasons. Significant profit-taking from long-standing addresses is occurring, affecting BTC's price and leading to increased investments in Ethereum (ETH), which is rapidly rising in market cap. Investors may consider buying ETH around 540,000 yen, while BTC trades are advised to be cautious.

Current fundamentals: In the short-term, there is a movement to buy the Dollar due to the rise in US Interest Rates.
The range and closing price for last week (week of July 14) (Bid rate of Manex Trader FX)

・Dollar/Yen: 146.851 yen ～ 149.181 yen 148.834 yen

・Euro/USD: 1.15564 Dollar ～ 1.17213 Dollar 1.16225 Dollar

・Euro/Yen: 171.693 Yen - 173.242 Yen 172.994 Yen
Last week (week of July 14), USD/JPY: yen depreciation level since June 23.
Last week (the week of July 14), the first half of the week saw a rise in the Dollar/Yen in response to U.S. inflation-related indicators and the commotion surrounding the dismissal of Powell, the Chairman of the Federal Reserve.

This week, key earnings reports for major US and Japanese companies are anticipated, with notable focus on Alphabet and Tesla in the US, and Nidec and Chugai Pharmaceutical in Japan. The essay reviews expected P/E ratios, analyst forecasts, and stock prices, noting that while Alphabet appears relatively undervalued, Tesla’s high P/E ratio raises concerns. It emphasizes the importance of demonstrating strong performance in upcoming earnings announcements.