Tariffs and Powell
- Tariffs continue to play a leading role in global markets. The US will impose 30% tariffs on imports from the European Union (EU) after August 1 and there is no deal on the horizon yet. Japan, on the other hand, continues to negotiate at the table with Washington officials.
- Despite the uncertainty, hopes that the countries with the world’s largest economies will reach an agreement on tariffs remain alive and major funds are rumored to have set up investment strategies that Trump will back down.
- Still, there is a cautious outlook in stock markets. European stock markets are down by up to 1% and Wall Street futures are slightly negative. On the digital assets front, despite the outflows from spot BTC ETFs after nearly three weeks, there was a resilient price movement.
- Digital asset purchases by companies such as Strategy continue, and as previously reported in the press, US financial giant JP Morgan’s plans to accept digital assets as collateral are on the agenda.
- After Solana’s announcement of the Block Assembly Marketplace, the rises recorded in SOL were worth talking about on the cryptocurrencies side.
- Later in the day, US Federal Reserve Chairman (FED) Powell’s speech may be noteworthy. Finally, with US Treasury Secretary Bessent’s statements that the success of the FED should be measured and the application for an investigation against Powell, the FED Chairman remains among the headlines on the agenda.
- Overall, we foresee a sideways trend in the prices of digital assets for the short term.
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Highlight of the Day
Important Economic Calender Data
| Time (UTC) | News / Event | Expectation | Previous |
|---|---|---|---|
| 12:30 | Fed Chair Powell Speaks | — | — |
Information
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