Bitcoin and Crypto Stocks Climb as Trump Opens 401(k) Plans to Alternative Assets

Economic

Cryptocurrency

Summary:

Bitcoin and crypto-linked equities rallied after President Trump signed an executive order allowing retirement accounts to invest in alternative assets, including cryptocurrencies, marking a major policy shift in US retirement investing...

Executive Order Signals New Era for Retirement Portfolios

On Thursday, President Trump signed an order directing the SEC to enable the inclusion of alternative assets such as digital currencies, private equity, and real estate in 401(k) and other retirement plans. This change broadens the traditionally conservative investment menus typically dominated by equities, bonds, and index funds to include higher-risk, potentially higher-return assets.

The White House framed the move as an effort to give over 90 million Americans with employer-sponsored retirement plans the same access to alternatives that wealthy investors and government retirement funds enjoy. Asset managers like BlackRock and KKR have welcomed the decision, noting that private market assets can diversify portfolios and offer resilience during downturns.

Crypto Market Response

Markets responded swiftly. Bitcoin rose 1.47% to around $116,650, while ether gained over 5% and XRP surged more than 11%. Shares of Coinbase and Robinhood also advanced, reflecting investor optimism that the rule change could spur institutional and retail crypto adoption through retirement accounts.

The policy shift comes amid broader momentum for digital asset regulation in Washington. July’s “Crypto Week” saw legislative progress on the Clarity Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act the latter signed by Trump on July 18 to regulate stablecoins.

If widely adopted, the rule could inject trillions in potential demand into alternative assets. However, financial advisors caution that such investments bring liquidity, valuation, and volatility risks that may not suit all retirement savers. While supporters highlight the potential for improved returns and diversification, critics warn that the move could expose inexperienced investors to undue risk in pursuit of higher yields.

Source: Yahoo Finance

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Economic

Stocks

Futures Rise Amid Political and Policy Developments

Before the opening bell, Dow Jones Industrial Average futures rose 0.16%, S&P 500 futures climbed 0.24%, and Nasdaq 100 futures gained 0.25%. The modest uptick followed a volatile week shaped by trade policy shifts, political appointments, and corporate earnings surprises.

The focus was on Trump’s selection of Stephen Miran, chairman of the Council of Economic Advisors, for a seat on the Federal Reserve Board of Governors. While the nomination requires Senate confirmation potentially delayed by the August recess it reinforced speculation about Trump’s influence on future monetary policy, including the choice of the next Fed chair.

Markets Adjust to New Tariff Landscape

Thursday’s trading session reflected mixed sentiment as investors reacted to the expiration of Trump’s tariff negotiation deadlines, triggering higher duties on imports from dozens of countries. This trade escalation added to uncertainty over corporate profitability, particularly for multinationals like Apple.

Pinterest shares fell sharply after missing profit expectations, while Block jumped on stronger-than-expected forward guidance. Earlier in the week, disappointing US job data fueled bets on a possible Fed rate cut in September, but the market’s trajectory remained tied to tariff impacts and earnings resilience.

Oil Prices Extend Losing Streak

Energy markets mirrored equity market caution. Brent crude slipped toward $66 a barrel, marking its seventh consecutive daily decline the worst run since 2021 while WTI traded below $64. The drop came as traders concluded that US diplomatic moves to end the war in Ukraine would not significantly disrupt supply, even after Washington penalized India for importing Russian crude.

Trump’s doubling of tariffs on Indian imports to 50% prompted state-owned refiners in India to reduce Russian purchases and seek alternative sources. Analysts noted that expectations of ample global supply, OPEC+ output increases, and slowing US growth under higher trade barriers were reinforcing bearish sentiment in oil markets.

Source: Yahoo Finance

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Economic

Broad Easing Across Emerging Markets

In July, central banks from seven emerging economies cut interest rates aggressively, marking the biggest monthly easing wave in years. According to Reuters data from 18 developing economies, the total reduction reached 625 basis points. The most significant moves came from Turkey, which resumed monetary easing with a substantial 300-basis-point cut, and Russia, which lowered its benchmark rate by 200 basis points. Smaller cuts of 25 basis points each were implemented in Indonesia, South Africa, Malaysia, Poland, and Chile.

Analysts noted that country-specific factors played a decisive role. In South Africa, policymakers are working toward a new inflation target, while in Turkey, stabilizing the lira remains the central focus. This divergence in domestic inflation trends and varying sensitivities to U.S. and European Central Bank policy decisions has created a patchwork of monetary strategies across the emerging market landscape.

Developed Markets Take a Cautious Pause

In contrast, developed market central banks adopted a “wait-and-see” stance in July. All six that convened including the Reserve Bank of Australia, Reserve Bank of New Zealand, Bank of Japan, European Central Bank, Bank of Canada, and U.S. Federal Reserve kept rates on hold. Sweden, Switzerland, Norway, and the Bank of England did not meet last month.

This caution stems from heightened uncertainty over U.S. trade and tariff policies, which have introduced volatility into global growth and inflation projections. With deadlines and policy announcements stacking up, many developed market policymakers prefer to delay further moves until the economic impact becomes clearer.

Year-to-Date Trends and Outlook

Since the start of 2025, G10 central banks have implemented 19 rate cuts totaling 500 basis points, while the only rate hike was a modest 25-basis-point increase by the Bank of Japan. Emerging markets, on the other hand, have been far more active, delivering 1,910 basis points of cuts across 32 moves. Rate hikes in emerging economies remain limited, with Brazil accounting for four increases and Turkey for one.

Market analysts, such as Dario Perkins of TS Lombard, expect developed economies’ easing cycles to extend into 2026, as central banks like the Fed and the Bank of England gradually catch up with peers. While August is typically quiet for policy shifts, September is expected to bring renewed action, particularly from major central banks assessing the post-summer economic landscape.

Source: Reuters

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Blue River

Forex

Technical Analysis

Economic

The appointment of Stephen Miran to the FOMC Board and expectations of Federal Reserve monetary policy easing weigh on the USD. Technical analysis of EURUSD suggests a move towards the 1.1750 resistance level after the correction is completed.

The USD continues to lose ground against the euro, and with the ECB’s upcoming decision, the EURUSD rate could soar towards 1.1750.

EURUSD forecast: key trading points

●Appointment of Stephen Miran to the FOMC Board

●The euro corrects after strengthening against the USD

●EURUSD forecast for 8 August 2025: 1.1750 and 1.1580

Fundamental analysis

The EURUSD outlook remains positive for the euro. The market faces uncertainty around the US Federal Reserve. The appointment of Stephen Miran to the FOMC Board surprised many investors. Expectations of Fed monetary policy easing are gradually weakening the US dollar. This news benefits the euro, which continues to strengthen as confidence in the USD wanes.

The ECB shows no rush to ease monetary policy amid some inflation stabilisation, with July’s figure holding steady at 2%, matching previous forecasts.

The central bank maintains a wait-and-see approach regarding interest rate changes, providing significant support to the euro. The next eurozone rate review is scheduled for September, and many economists believe the ECB may keep the rate unchanged, given the current level of inflation risks.

EURUSD technical analysis

On the H4 chart, the EURUSD pair has formed a Shooting Star reversal pattern near the upper Bollinger Band. At this stage, the pair may continue a corrective wave in line with this signal. Considering the recent sharp rise in quotes, a pullback towards the nearest support level at 1.1580 is possible. A rebound from this support would open the way for a continued upward movement.

However, today’s EURUSD forecast does not rule out a rise towards 1.1750 without testing the support level.

EURUSD Holds Its Breath: What Will The ECB Decide In September?_1

Source: RoboForex

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Economic

Commodity

Market Overview and Price Movements

Oil benchmarks extended losses for a seventh consecutive session on Friday, marking the steepest sustained decline in over three years. Brent crude fell toward $66 a barrel, while West Texas Intermediate dipped below $64. This prolonged slump follows a shift in market sentiment, with traders increasingly convinced that Washington’s measures against Russian oil buyers will not significantly disrupt overall supply flows.

The downward momentum comes despite U.S. President Donald Trump’s recent doubling of tariffs on all Indian imports to 50% in retaliation for India’s continued purchase of Russian crude. While the move prompted state-owned Indian refiners to scale back Russian purchases, markets have been reassured by signs of ongoing supply flexibility and the possibility of a Trump–Putin meeting.

Geopolitical Context and Policy Actions

Trump’s administration has adopted a more aggressive trade stance, with Treasury Secretary Scott Bessent hinting at possible tariffs on Chinese imports over similar energy ties to Moscow. However, these threats have been offset by “positive signals” from U.S.–Russia discussions, which eased fears of imminent supply disruptions.

Russian exporters have demonstrated adaptability, offering Urals crude from western ports to Chinese buyers a market that does not traditionally take such grades highlighting the resilience of global crude trade networks in the face of sanctions and tariffs.

Supply-Demand Fundamentals and OPEC+ Role

The recent selloff also reflects broader bearish fundamentals. After three months of gains, oil prices have reversed amid expectations of a potential supply glut later in 2025. This outlook follows OPEC+’s decision to relax output curbs, adding fresh barrels to the market at a time when Trump’s wider tariff regime is dampening U.S. economic activity and energy demand.

Crude futures have also been pressured by weaker macroeconomic indicators in the U.S., raising concerns about slowing consumption growth. According to Gao Mingyu, chief energy analyst at SDIC Essence Futures, the fading geopolitical risk premium and an approaching post-peak demand season could shift market sentiment toward further downside.

Market Structure Signals

The Brent prompt spread a key gauge of near-term market tightness has narrowed to just 53 cents per barrel in backwardation, down from more than $1 a month ago. This compression suggests softening demand pressures and more balanced short-term supply conditions.

With the summer driving season drawing to a close and additional OPEC+ supply hitting the market, analysts warn that bearish sentiment could strengthen, especially if trade tensions and weaker growth data persist into Q4.

Source: Bloomberg

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Economic

Strategic Expansion of Best Buy’s Global Capability Centre

Best Buy is significantly increasing its presence in India’s technology sector, with plans to hire between 150 and 200 additional employees for its Bengaluru-based Global Capability Centre (GCC). The centre, launched in 2024, already serves as the company’s largest tech hub worldwide surpassing its three U.S. counterparts and plays a key role in data, artificial intelligence (AI), software development, and product management.

Senior Director of Data & AI COE Nithya Subramanian told Reuters that hiring will span multiple functions, with a strong emphasis on digital, AI, and software capabilities. The company is actively recruiting AI engineers, software engineers, and product managers, according to postings on its LinkedIn page.

From Outsourcing Hubs to Strategic Operations Centres

The expansion reflects the broader transformation of GCCs in India from low-cost outsourcing units to multifunctional centres supporting daily operations, finance, research, and development for their parent companies. India’s GCC sector is forecast to grow from $64.6 billion in FY2024 to as much as $105 billion by 2030, underpinned by a steady inflow of multinational investment.

Best Buy’s move mirrors similar strategies by peers such as Costco Wholesale, which plans to launch its first India GCC. For Best Buy, the Bengaluru centre has become a cornerstone for global digital transformation efforts, even though the company has no retail presence in India.

Global Operations Context

While the India expansion will bolster Best Buy’s tech and innovation capacity, its core retail business remains concentrated in the U.S. and Canada, where it operates more than 1,000 stores and employs over 85,000 people. By leveraging India’s skilled workforce, the company aims to accelerate its capabilities in emerging technologies without direct consumer operations in the country.

This expansion underscores a growing trend among U.S. retailers to diversify global operations and build resilience through high-value, tech-driven functions in emerging markets.

Source: Reuters

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Winkelmann

Commodity

Political

Gold prices are hovering around 3,380 USD. While fundamental factors favour further growth, there is a nuance.

XAUUSD forecast: key trading points

● Gold (XAUUSD) prices react to risks and White House tariffs

● The US decision to impose tariffs on imported gold bars will support prices

● XAUUSD forecast for 8 August 2025: 3,408

Fundamental analysis

On Friday, gold (XAUUSD) prices declined to 3,380 USD per ounce, pulling back slightly from a two-week high due to profit-taking. Nevertheless, the metal still has a chance to finish the week higher for the second consecutive time, bolstered by trade risks and expectations of Fed policy easing.From midnight, President Donald Trump’s large-scale tariffs – ranging from 10% to 50% on imports from dozens of countries, plus a separate 100% tariff on semiconductor imports – came into effect. This boosted gold’s appeal as a safe-haven asset.

Additional momentum came from Minneapolis Fed President Neel Kashkari, who supported the idea of a rate cut amid signs of economic slowdown. Initial jobless claims exceeded expectations, while continuing claims reached their highest level in three years.The US also imposed tariffs on imports of one-kilo and 100-ounce gold bars to reduce reliance on foreign supply, especially from Switzerland. This may lower domestic market supply and support prices.Another demand driver was China’s continued gold buying, with the People’s Bank of China purchasing gold for the ninth consecutive month in July.

The gold (XAUUSD) forecast is positive.

XAUUSD technical analysis

On the H4 chart, gold quotes have shown steady growth since 1 August after a late-July decline. The upward impulse began from the 3,280 level and continues towards the current value near 3,396 USD per ounce.Prices broke above crucial resistance levels at 3,349 and 3,373, which can now act as support areas. At the moment, quotes are approaching the 3,408 level, where selling pressure previously emerged. This is the nearest resistance. The next target is the 3,439 area, the late-July high.

Bollinger Bands are widening, confirming increased volatility. Prices remain above the indicator’s middle line, signalling the strength of the uptrend.Thus, gold is trading within an ascending channel. If prices confidently consolidate above 3,408, the next target will be 3,439. Otherwise, a pullback towards the 3,373 and 3,349 levels is possible.

Gold (XAUUSD) Has Multiple Supports: From Fed Reshuffles To Trump’s Tariffs_1

Summary

Gold prices may resume growth after the morning pause. The gold forecast for today, 8 August 2025, suggests a buying wave could develop, with the first target at 3,408.