⚠️✴️ Recent trends show no significant reversal in the outflows from spot BTC ETFs. Last week saw a rare influx, but it remains an isolated incident. There is now almost complete consensus in the market that BTC is in the final phase of a bear market, with a drop to around $50,000 not ruled out. Few are discussing the potential for a sharper decline if the AI bubble in stocks bursts. Currently, this is viewed as a distant scenario, with some experts suggesting Trump will prevent a sharp stock decline before the November midterm elections.
⚠️🇺🇸 The stock index for high-tech companies, SOX, has seen significant growth fueled by the AI trend. Many analysts and industry experts assert that this is not a bubble. Nvidia's CEO claims that everything related to AI is not a bubble, and the future holds immense potential. In contrast, Tether's CEO recently warned that big tech companies are spending irrationally on AI infrastructure, leading to shrinking margins and uncertain profits amid rising competition.
🔥🛢 OPEC+ will increase oil production by 188,000 barrels per day starting in August, according to delegates. The next meeting is scheduled for August 2.
🌍 Key events this week include the NATO summit in Ankara on July 7-8 and Chinese Foreign Minister Wang Yi's visit to Sweden, Finland, Denmark from July 2-8.
On Monday, July 6, Eurozone PPI data will be released at 12:00 MSK, followed by Canada's Services/Composite PMI and the U.S. S&P Services/Composite PMI at 16:30 MSK. The U.S. ISM Services PMI follows at 17:00 MSK, with ECB President Lagarde speaking at 19:00 MSK.
Tuesday highlights include Germany's industrial production and U.S. employment data.
Wednesday features New Zealand's central bank rate decision and U.S. oil inventory data.
Thursday includes China's CPI and U.S. jobless claims.
Friday will see inflation data from Japan, Germany, Brazil, and Russia, along with the U.S. WASDE report.
On Monday, July 6, Eurozone PPI data will be released at 12:00 MSK, followed by Canada's Services/Composite PMI and the U.S. S&P Services/Composite PMI at 16:30 MSK. The U.S. ISM Services PMI follows at 17:00 MSK, with ECB President Lagarde speaking at 19:00 MSK.
Tuesday highlights include Germany's industrial production and U.S. employment data.
Wednesday features New Zealand's central bank rate decision and U.S. oil inventory data.
Thursday includes China's CPI and U.S. jobless claims.
Friday will see inflation data from Japan, Germany, Brazil, and Russia, along with the U.S. WASDE report.
⚠️🇺🇦 The conflict in Ukraine has evolved into a "real war" as Western countries, including the United States, stand behind Kyiv, stated Dmitry Peskov in an interview with Vesti. The ongoing situation reflects heightened geopolitical tensions and shifting alliances in the region. Analysts are closely monitoring the IMOEX 100 index for further insights.
🚫🛢 Analysts in Iran warn of a potential escalation of conflict in the Bab-el-Mandeb Strait region. On June 14, Iran's Foreign Ministry officially threatened to close the Bab-el-Mandeb Strait while maintaining the blockade of Hormuz if the US and Israel do not adhere to the terms of the peace memorandum. Additionally, tensions are rising between the Houthis, the US, and Saudi Arabia in the Bab-el-Mandeb area.
🔥 Poland and Ukraine are facing escalating tensions, with the situation worsening daily. The geopolitical landscape is becoming increasingly strained as both nations struggle to manage their differences. Monitoring reports indicate a significant deterioration in relations, raising concerns about the future of their partnership. For more information, visit here.
🌍 Former U.S. President Donald Trump is set to meet with Ukrainian President Volodymyr Zelensky during the NATO summit, according to RTRS. The meeting highlights ongoing geopolitical discussions and the relationship between the two nations amidst current global tensions.
🇪🇺 In France, fights have erupted over air conditioners as the heat wave intensifies. With soaring temperatures, demand for cooling systems has surged, leading to conflicts among consumers. The situation highlights the growing challenges posed by climate change and extreme weather events. For more details, visit the BBC's coverage on this issue.
🚫🛢️ The U.S. intelligence is aiding Ukraine in striking Russian oil refineries by providing optimal routes to bypass Russian air defenses, according to the Financial Times. Ukraine is reportedly attacking Russia's energy infrastructure on an unprecedented scale. Meanwhile, Russian media reports that Russia is also targeting Ukraine's energy infrastructure with similar intensity.
🚨🛢️🇸🇦 Houthi rebels have threatened to strike Saudi airports, Saudi Aramco's refineries, and other infrastructure if Saudi Arabia continues its "foolish actions." The United States has also been warned. The potential closure of the Bab el-Mandeb Strait is under consideration. The tensions escalated last Friday when Houthis fired at Saudi aircraft, claiming that Saudi Arabia had invaded the airspace of several Yemeni provinces to obstruct an Iranian passenger plane's landing at Sana'a International Airport.
🎉👙 On July 5, the world celebrates Bikini Day, marking the 80th anniversary of the bikini. First introduced to the public on July 5, 1946, at a fashion show in Paris's Molitor pool, the two-piece swimsuit faced skepticism and was deemed inappropriate in many countries. Experts suggest that the reaction has evolved significantly since then, leading to a more accepting view of this iconic swimwear.
😲 The U.S. Department of Government Efficiency (DOGE) ceased to exist on Independence Day, July 4, as reported by POLITICO. The department was tasked with reducing expenses, identifying "inefficient" government agencies, and laying off federal employees. Established as a temporary organization, DOGE was originally intended to operate until July 4, 2026, following an executive order from Trump.