BTC Price to Fill $117K CME Gap? 5 Things to Know in Bitcoin This Week

US President Donald Trump said he hopes China massively stepped up its purchases of American soybeans — comments that come a day before a trade truce expires.“China is worried about its shortage of soybeans,” Trump wrote on the Truth Social website on Monday. “I hope China will quickly quadruple its soybean orders. This is also a way of substantially reducing China’s trade deficit with the US.”

Trump also thanked Chinese leader Xi Jinping in the post, without saying why.Soybean futures in Chicago rose back above US$10 a bushel for the first time in a week, jumping more than 2% after the post.China has long fretted about its supplies of soybeans, which are a key element of the nation’s diet and livestock feed. Beijing faces an Aug 12 deadline for its tariff truce with the US to expire, though the Trump administration has signalled that is likely to be extended.China has stepped up purchases of soybeans from its top supplier Brazil, and is also testing trial cargoes of soybean meal from Argentina, to secure supplies of the animal feed ingredient amid the trade war with the US.

The world’s top buyer of the oilseed hasn’t booked any cargoes of US soybeans as of end July for the upcoming marketing year that starts in September, according to data from the US Department of Agriculture.China agreed to increase buying of US agricultural goods like soybeans during the so-called phase one trade agreement reached during Trump’s first term. Beijing fell well short of the purchase targets in that pact.While China and the US have been trying to work out a trade deal, other issues have been complicating their relationship. Last week, China defended its imports of Russian oil, pushing back against US threats of new tariffs after Washington slapped secondary levies on India for buying energy from Moscow.

In July, the Trump administration reversed course to allow Nvidia to sell the H20 artificial intelligence accelerator to China.

Source: Theedgemarkets

Inflation Data Takes Center Stage This Week

Packed Data Calendar This Week

US Dollar Technical Outlook

Source: investing

Source:cnn

US stocks were little changed Monday soon after the open as investors geared up for a week filled with data that could determine how quickly the Federal Reserve resumes its interest-rate cuts.

The S&P 500 Index advanced 0.1% as of 9:39 a.m. in New York, gaining for a second-straight session. The Nasdaq 100 Index was flat and the Cboe Volatility Index hovered just below 16.

A swath of economic data begins on Tuesday with the consumer price index for the month of July, which will provide an opportunity to examine the impact tariffs have had on inflation amid a cooling labor market. Those figures will be critical to whether the Fed lowers interest rates in September, according to Anna Wong, chief US economist at Bloomberg Economics.

“The key report this week is tomorrow’s CPI and the stakes here are clear: if CPI prints hotter than expected, you will see September rate-cut expectations fall (possibly sharply) as the Fed will be concerned that tariffs are now starting to push inflation higher,” said Tom Essaye at The Sevens Report. “Given that expected rate cuts have helped stocks rally for weeks now, that would be a new negative influence on the markets.”

Also on the horizon this week will be data on producer prices and retail sales.

Chipmakers are being watched after Nvidia Corp. and Advanced Micro Devices Inc. reportedly agreed to pay 15% of their revenues from Chinese AI chip sales to the US government in a deal to secure export licenses. The deal may encourage the White House to target other industries and goods, according to Hinrich Foundation’s Deborah Elms.

“This marks the beginning of a new phase of taxation for Donald Trump, with the President targeting specific businesses in a bid to raise money through market access,” said Joshua Mahony, chief market analyst at Scope Markets.

Also likely being watched is Intel Corp. Chief Executive Officer Lip-Bu Tan’s visit to the White House. A wide-ranging conversation with President Donald Trump comes after the Republican called for his removal last week.

A record share of fund managers see US stocks as too expensive following the sharp rally from April’s tariff-driven lows, according to a Bank of America Corp. survey. About 91% of participants indicated that US stocks were overvalued, which is the highest proportion in data going back to 2001.

Meanwhile, strategists at Citigroup Inc. raised their target for the S&P 500, saying tax cuts should offset the negative impact from tariffs on US companies. Results in the second quarter have shown an “impressive beat,” though second-half earnings projections have mostly stayed intact, the team led by Scott Chronert said.

Among singular stocks, Micron Technology Inc. jumped after raising its fiscal fourth-quarter revenue and earnings outlook, citing “improved pricing” for a key product.

Source: Bloomberg Europe

North Korea has denounced a major joint exercise planned by the South Korean and U.S. militaries as "direct military provocation" and warned of counteraction, despite signs of easing tension across the border under a new leader in Seoul.North Korea's Defence Minister No Kwang Chol said its military has an "absolute mission" to defend national security against the large-scale 11-day drills by South Korea and the United States, which he said posed a real and dangerous threat.

"The armed forces of the DPRK will cope with the war drills of the U.S. and the (South) with thoroughgoing and resolute counteraction posture and strictly exercise the sovereign right," No said in a statement issued via the KCNA state news agency on Monday.DPRK is short for the Democratic People's Republic of Korea, North Korea's official name.

No said the drills staged under the pretext of defence against threats were additional proof of the confrontational intent by the two countries that raises hostility and further destabilises regional security.North Korea routinely denounces military drills by the South and the United States, having called some previous exercises "a rehearsal" for nuclear war on the Korean peninsula, even as Pyongyang conducted a range of missile tests and live fire artillery exercises.

South Korea and the United States said last week the annual exercise would begin on August 18 to test command control and troop mobilisation under an upgraded security strategy against a heightened threat of nuclear warfare by North Korea.However, the allies said a major part of the field exercise would be postponed and conducted separately next month, citing weather conditions. The postponement was widely seen as prompted by South Korea's liberal President Lee Jae Myung, who won a snap election in June, to ease tension with Pyongyang.

Ties between the rival Koreas had plunged to some of the most hostile points in recent years, as the North pressed on with developing nuclear attack capabilities and dramatically boosted military ties with Russia.While Pyongyang has publicly rebuffed renewed outreach by Lee and Washington for dialogue, it was making moves seen as reciprocating some South Korean actions to ease tensions.

South Korea said on Saturday it had detected the North's military removing some loudspeakers at the border, days after the South began dismantling similar equipment that had blared propaganda across the border.North Korea also seemed to have used a more restrained tone in criticisms about the U.S.-South Korea joint exercises, said an official at Seoul's Unification Ministry, which oversees ties between the Koreas.Pyongyang "appears to focus on expressing its position on the drills, rather than making military threats," ministry spokesperson Koo Byoungsam said at a briefing on Monday.

Source: Reuters

Purchase agreement, transshipment

Semiconductor export controls

Rare-earth exports

Secondary tariffs over Russian crude

Source: cnbc