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Backcom.io - Backcom.io โ€“ Crypto & Forex Trading Fee Cashback Platform

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๐Ÿ”ฅ U.S. Treasury Secretary to Hold Press Conference on August 24

๐Ÿ™ Scott Bessent is expected to announce the toughest sanctions package in history targeting Iran.
๐ŸŸฃ This marks the next step in Washingtonโ€™s strategy to intensify economic pressure.
๐ŸŸฃ The U.S. is maintaining its naval blockade and has ended negotiations.

๐Ÿ‡ฎ๐Ÿ‡ท Economic pressure on Iran is being raised to an unprecedented level.

@BackcomGlobal
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๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ CFTC Begins Building Its Own Crypto Regulatory Framework

๐ŸŸข CFTC Chair Michael Selig said he has directed agency staff to begin developing a crypto regulatory framework.
๐ŸŸข The CFTC will use its existing authority, without waiting for Congress to act.
๐ŸŸข Goal: To prepare for the possibility that the CLARITY Act remains stalled in the Senate.

๐Ÿ‡บ๐Ÿ‡ธ The CFTC is taking the initiative instead of waiting for CLARITY โ€” a positive signal for the U.S. crypto market. ๐Ÿช™

@BackcomGlobal
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๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ Japanese Yen Stays Flat Despite Rising Inflation

๐Ÿ’ด The Japanese yen was little changed following Japanโ€™s July CPI report.
๐ŸŸฃ Inflation edged higher from the previous month, supporting expectations that the BoJ may raise interest rates.
๐ŸŸฃ However, the market remained cautious and has yet to push the yen meaningfully higher.

๐Ÿ‡ฏ๐Ÿ‡ต Inflation supports the BoJ, but the yen still hasnโ€™t โ€œwoken up.โ€

@BackcomGlobal
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Bessent โ€œDoesnโ€™t Understandโ€ Why Oil Prices Are Surging

๐Ÿ™ U.S. Treasury Secretary Scott Bessent admitted:
โ€œWeโ€™re seeing oil prices surge, and I really donโ€™t understand why.โ€
๐ŸŸฃ He described the price movement over the past 24 hours as โ€œnoise.โ€
๐ŸŸฃ Meanwhile, markets are reacting to escalating tensions around the Strait of Hormuz and the increasingly aggressive sanctions strategy against Iran.

When even the head of the U.S. Treasury says he โ€œdoesnโ€™t understand,โ€ uncertainty in the oil market only grows further. ๐Ÿ˜„๐Ÿ˜„๐Ÿ˜„

@BackcomGlobal
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๐Ÿ“ˆ Green Weekend: BTC $78K โ€“ Gold $4,600

๐Ÿ’ฐ Bitcoin is holding firmly in the $77Kโ€“$78K range.
๐Ÿ’ฐ Gold has surpassed $4,600.
๐Ÿ“ˆ U.S. stocks are slightly in the green heading into the weekend.

โœ… A wave of altcoins is gaining momentum:
๐Ÿ–ค $BCH +32%, $ZEC +29%, $AAVE +24%
๐Ÿ–ค Memecoins: $PEPE +28%, $SHIB +23%, $TRUMP +18%

โžก๏ธ The market is โ€œflyingโ€ into the weekend as capital inflows and positive sentiment continue to spread.

@BackcomGlobal
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๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ Iran and China Both โ€œSay Noโ€ to U.S. Sanctions

๐Ÿ‡บ๐Ÿ‡ธ The U.S. is preparing to announce the strongest sanctions package in history targeting Iran.
๐Ÿ‡ฎ๐Ÿ‡ท Iran has strongly voiced its opposition.
๐Ÿ‡จ๐Ÿ‡ณ China has also opposed the move, saying sanctions will not solve the problem and calling for dialogue.

With both Iran and China pushing back, the economic battle surrounding the Strait of Hormuz is becoming even more complicated. ๐Ÿ˜„๐Ÿ˜„๐Ÿ˜„

@BackcomGlobal
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๐Ÿ‡บ๐Ÿ‡ธ 63% of Americans: Trumpโ€™s Crypto Profits Have โ€œCrossed the Lineโ€

๐ŸŸฃ A Reuters/Ipsos poll shows that 63% of Americans believe the Trump familyโ€™s cryptocurrency profits are inappropriate.
๐ŸŸฃ Around half of Republicans also say his business interests are influencing policy decisions.
๐ŸŸฃ The results reflect growing concerns over potential conflicts of interest.


Even within his own party, Trump is facing major questions about the line between politics and the crypto business.
๐Ÿ‘

@BackcomGlobal
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Asian Currencies Head for Weekly Gains โ€“ USD Near 3-Month Low

๐Ÿ”ด The USD continues to weaken, hovering near its lowest level in 3 months.
๐Ÿ‘‰ Despite the U.S. Treasury increasing buybacks of long-term bonds, concerns over U.S. public debt continue to dominate, pushing yields higher again and putting pressure on the greenback.
โšก๏ธ Asian and European currencies are benefiting:
๐Ÿ–ค The South Korean won is rising strongly.
๐Ÿ–ค The Japanese yen and several other currencies are also performing positively.
๐Ÿ–ค The Indian rupee remains under pressure due to high energy costs.

๐Ÿ“ˆ The market is seeing a week of gains for many Asian currencies thanks to a weaker USD.

@BackcomGlobal
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๐Ÿ‡บ๐Ÿ‡ธ U.S. Yields Rebound โ€“ Services PMI Beats Forecast

๐ŸŸฃ U.S. Services PMI for August jumped to 56.8, well above the 54 forecast.
๐ŸŸฃ U.S. Treasury yields rebounded across the curve: 2Y rose to 4.24%, 10Y to 4.474%, and 30Y to 5.276%.
๐ŸŸฃ The U.S. Treasury increased long-term bond buybacks from $2B to $4B, but the move was still not enough to push yields lower.

โžก๏ธ Strong U.S. economic data is making markets more cautious about the outlook for Fed interest rates.

@BackcomGlobal
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๐Ÿ“ˆ Start-of-Week Market Update

๐Ÿ’ฐ Gold remains firm around $4,600.
๐Ÿช™ Bitcoin continues to trade steadily within the $77Kโ€“$78K range.
๐ŸŸก Markets are relatively calm at the start of the week, awaiting fresh signals.


The two leading safe-haven assets are still holding up well as the new week begins.


@BackcomGlobal
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๐Ÿ”ด U.S. ECONOMIC CALENDAR (UTC)
WEEK 04 โ€“ AUGUST 2026

This week, market attention is focused on Core PCE and U.S. Q2 GDP, two key data points that could have a major impact on Fed rate expectations, alongside the U.S. crude oil inventory report.

๐Ÿ“Œ Key events to watch:
๐ŸŸฃ 12:30 UTC, Wednesday, Aug 26: Core PCE Price Index (MoM) โ€“ July
๐ŸŸก 12:30 UTC, Wednesday, Aug 26: U.S. GDP (QoQ) โ€“ Q2
๐ŸŸก 14:30 UTC, Wednesday, Aug 26: U.S. Crude Oil Inventories (EIA)

๐Ÿ“ˆ The main focus this week is Core PCE and U.S. GDP on Aug 26. PCE is an inflation gauge closely watched by the market when assessing the Fedโ€™s policy outlook, while GDP provides further signals on the health of the U.S. economy. These data releases could trigger significant moves in USD, gold, U.S. equities, and Treasury yields.

View News Source

Wishing everyone a smooth and successful trading week! ๐Ÿ’ช

@BackcomGlobal
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๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ U.S. Prepares Major โ€œFinancial Strikeโ€ Against Iran

๐Ÿ‡บ๐Ÿ‡ธ U.S. Treasury Secretary Scott Bessent said the United States is preparing to roll out tough sanctions aimed at isolating Iran from the global economic system.

๐Ÿ“Œ Key points:
๐Ÿ–ค Washington warned that countries and companies continuing to serve as a โ€œfinancial lifelineโ€ for Tehran could face sanctions and restrictions on access to the international financial system.
๐Ÿ–ค China is under particular scrutiny as it remains a major buyer of Iranian oil, while Gulf countries are also facing pressure to balance relations with both the U.S. and Iran.
๐Ÿ–ค Iran responded that countries supporting the U.S. economic pressure campaign could be viewed as engaging in hostile actions, while continuing to use the Strait of Hormuz as leverage.


If the U.S. significantly tightens pressure on Iranโ€™s financial flows and oil exports, supply risks could continue to support oil prices while increasing volatility across global markets.

@BackcomGlobal
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๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ Iran Says New U.S. Sanctions Will Fail

๐Ÿ‡ฎ๐Ÿ‡ท Iranian Foreign Minister Abbas Araghchi said Washingtonโ€™s renewed push for economic sanctions shows that the U.S. is becoming โ€œdesperate,โ€ while insisting that the new measures will not force Tehran to back down.

At present, vessel traffic through the Strait of Hormuz remains very low, so the details of the U.S. sanctions package expected to be announced today will be closely watched by markets.

@BackcomGlobal
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๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ DXY Falls Below 99 as USD Faces Pressure From U.S. Fiscal Concerns

๐Ÿ’ต The Dollar Index (DXY) has fallen to around 98.80, moving close to its lowest level in roughly three months.
๐Ÿ‘‰ Key reasons:
๐Ÿ–ค The U.S. Treasury has increased the size of its long-term bond buybacks to $4 billion per operation, raising concerns over the fiscal outlook and the strength of the U.S. dollar.
๐Ÿ–ค Markets have lowered expectations that the Fed will continue raising interest rates, with the probability of a hike at the next meeting falling to around 41%.
๐Ÿ–ค Concerns over U.S. public debt and the budget deficit continue to weigh on the greenback.


๐Ÿ“‰ A weaker USD is supporting gold, Bitcoin, and several major currencies.

@BackcomGlobal
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