Israel Calls Up 60,000 Reservists Ahead Of Gaza City Takeover

Samantha Luan

Economic

Latest news on the Israeli-Palestinian conflict

Political

Palestinian-Israeli conflict

Summary:

Israeli media is reporting that around 60,000 Israeli reservists are set to receive call-up orders on Wednesday as the Israel Defense Forces (IDF) gear up for a major assault on Gaza City.

Israeli media is reporting that around 60,000 Israeli reservists are set to receive call-up orders on Wednesday as the Israel Defense Forces (IDF) gear up for a major assault on Gaza City.A report in Times of Israel notes that reservists will have up to two weeks before going to their duty stations, but not all will be directly involved in the Gaza City offensive, as some are needed replace Israeli forces currently stationed in other parts of Gaza.

Anadolu Agency

The controversial Netanyahu-ordered expanded offensive which aims to achieve total control of Gaza City is expected to displace over a million Palestinian civilians.The IDF is prepared to use artillery to forcibly remove them, and a ramped-up air campaign has already been underway. Arab media sources, including Al Jazeera, have said that areas with a lot of tent shelters for refugees have at times been directly struck.

Israel's military has issued evacuation orders, and is framing this as simply a mass transfer, while the Palestinian side along with international human rights monitors have decried an ethnic cleansing and land grab in progress.Reports in Israeli media have further described that after capturing the city, the IDF plans to spend over a year systematically demolishing it, which is precisely what previously happened in Beit Hanoun, Beit Lahia, and Jabalia.

The ostensible justification is for removal of "Hamas infrastructure" - but critics have said it is ultimately to pave the way for Jewish settlement of the Gaza Strip.The question remains, where will these Gazans go? Israel has been seeking to pressure some regional and even north African countries to take them in.To be expected, these conversations have gone nowhere especially as regional Arab states have already historically absorbed hundreds of thousands. For example, the majority of the population of Jordan actually has Palestinian roots.

Just life Rafah...

The Trump administration has meanwhile appeared to greenlight the takeover plans, in a break from Europe - which has grown much more critical of Israeli policy and loud over the last months.Some EU states like Denmark are even mulling sanctions on Israel, and several major US allies are set to recognize the state of Palestine at the upcoming UN General Assembly meeting in September.

Source: Zero Hedge

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Blue River

Technical Analysis

With Japan’s PMI declining and the US PMI remaining uncertain, the USDJPY rate may reach 149.00.

USDJPY forecast: key trading points

Japan’s services PMI: previously at 53.6, currently at 52.7
US services PMI: previously at 49.8, projected at 49.7
USDJPY forecast for 21 August 2025: 149.00

Fundamental analysis

Fundamental analysis for 21 August 2025 shows the USDJPY pair holding steady, trading sideways near 147.40.

Japan’s services PMI covers a wide range of industries, including transport and communications, financial intermediation, business and household services, IT, hospitality and restaurants.

The USDJPY forecast for today does not appear optimistic for the yen, with the PMI down to 52.7 from the previous reading. Although the figure remains above the 50.0 threshold, which indicates expansion, the yen continues to lose ground against the US dollar.

In the US, the services PMI is forecast to ease slightly from 49.8 to 49.7. While such a move may not be critical, it is important to note that forecasts can diverge significantly from actual results, which could either strengthen or weaken the USD.

USDJPY technical analysis

Having tested the lower Bollinger Band, the USDJPY pair formed a Hammer reversal pattern near 147.40 on the H4 chart. At this stage, the pair may continue its upward trajectory in line with the pattern’s signal. The USDJPY rate remains within an ascending channel, which supports the case for growth towards resistance near 149.00.

At the same time, the USDJPY forecast also considers an alternative scenario where the price dips to 146.50 before resuming its upward movement.

Summary

Fundamental data currently favours the USD, while USDJPY technical analysis points to growth towards 149.00.

Source: RoboForex

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Glendon

Economic

Commodity

Gold prices edged lower on Thursday after the U.S. Federal Reserve's July meeting minutes showed a majority consensus on holding interest rates steady, as investors look to the central bank's annual Jackson Hole symposium later in the day for further policy cues.

Spot goldwas down 0.2% at $3,340.09 per ounce, as of 0802 GMT. U.S. gold futuresfor December delivery also lost 0.2% to $3,382.30.

Minutes from the Fed's July meeting showed the policymakers who dissented against last month's decision to keep interest rates unchanged - Vice Chair for Supervision Michelle Bowman and Governor Christopher Waller - were alone in advocating for a rate cut.

"FOMC minutes were hawkish, the Fed's board remains inclined to prioritize inflation control by keeping monetary policy tight rather than cutting the cost of money," said Carlo Alberto De Casa, external analyst at Swissquote.

Non-yielding gold typically performs well in a low interest rate environment.

The Fed has held rates steady since December, although investors still expect an 81% chance of a quarter-point cut by September, according to the CME's FedWatch tool.

Fed Chair Jerome Powell is expected to speak on Friday at the August 21-23 Jackson Hole symposium, with investors watching whether he backs measures to bolster the labour market or focuses on curbing inflation.

"A hawkish Fed could have an impact on the gold price, but as long as gold remains in the $3,270-3,440 range, there are no massive risks for big falls (given) that central banks are still buying tonnes of gold," De Casa added.

Meanwhile, President Trump called on Fed Governor Lisa Cook to resign over allegations made by one of his political allies about mortgages she holds, intensifying his efforts to influence the central bank. Cook said she had "no intention of being bullied to step down" from her position.

China's central bank added gold to its reserves in July, its ninth consecutive month of purchases, official data showed earlier this month.

Spot silverwas down 0.2% at $37.83 per ounce, platinumfell 1% to $1,326.93 and palladiumshed 0.8% to $1,105.12.

Source: Reuters

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Gerik

Economic

Cryptocurrency

Digital Yuan Gains Traction

China has been making strides in promoting the digital yuan (e-CNY) as part of its broader strategy to challenge the U.S. dollar’s dominance in international trade and finance. The People's Bank of China introduced the e-CNY in 2019, and it has since gained traction, particularly in cities within China where it is used for a variety of transactions, including paying civil servants' wages. By July 2024, over 7.3 trillion yuan worth of transactions had taken place using the e-CNY in pilot regions. The digital yuan is part of China’s push to strengthen its currency, which has been traditionally constrained by capital controls.

Despite these efforts, the yuan faces significant obstacles to becoming a truly global currency. A major hurdle is China's lack of full convertibility in the international market, which limits the yuan's use in cross-border transactions. The Chinese government’s strict controls over foreign exchange prevent the yuan from being freely traded, unlike currencies like the U.S. dollar or euro. While the yuan has made some inroads into global trade, accounting for 2.88% of global payments by value as of June 2025, it still lags far behind the dollar, which holds over 47% of the market share.

China Eyes Stablecoin for Greater Global Integration

China is also exploring the potential for stablecoins tied to the yuan, which could further facilitate cross-border transactions. Stablecoins are digital currencies whose value is pegged to traditional currencies like the U.S. dollar, offering greater stability compared to cryptocurrencies like Bitcoin. However, China’s move toward stablecoins is still in the early stages, and regulatory frameworks are needed to ensure their safe and seamless integration with existing financial systems.

Hong Kong, with its semi-autonomous status and financial independence, has been at the forefront of digital currency innovation. It recently introduced regulations governing stablecoins, which could pave the way for a yuan-backed stablecoin. However, for a yuan stablecoin to be issued in Hong Kong, China would need to implement specific regulations governing its use, especially in financial transactions.

Despite the growing use of digital currencies like the e-CNY and the prospect of stablecoins, the yuan’s future as a global currency remains uncertain. The lack of full financial market access and China’s continued capital controls present significant barriers to widespread global adoption. However, China’s efforts, especially through digital yuan and stablecoins, signal a concerted push to reshape the global currency landscape, positioning the yuan as a potential challenger to the U.S. dollar’s longstanding dominance in international trade and finance.

Source: AP

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Winkelmann

Economic

Commodity

Stocks

British American Tobacco for years fought the sale of unauthorised, disposable vapes in the U.S. - the world's largest market for smoking alternatives - lobbying lawmakers and arguing aggressively in court that they were illegal.But with rivals eschewing government licences and the market now worth billions, it's preparing a U-turn."Not having access to this world weighs on our company's bottom line," Luis Pinto, spokesman for BAT's U.S. unit Reynolds American, told Reuters as it prepared to test launch its first new disposable product in the United States since an influx of unregulated rivals hammered its sales.

Reynolds' disposable vape brand Vuse One uses laboratory-produced synthetic nicotine and has an application pending with the U.S. Food and Drug Administration. Pilot sales will start in late September or early October, Pinto told Reuters exclusively.Campaigners, however, accuse the company of putting profits above public health. And the FDA, which regulates nicotine products, told Reuters that going to market without an FDA licence, as BAT intends to do, would break the law.

"All new tobacco products ... that are on the U.S. market without the statutorily required premarket authorisation from the FDA are marketed unlawfully," it said.The agency did not comment specifically on BAT's strategy when asked by Reuters, but it said a pending application did not create a "legal safe harbour to sell a product."Pinto said BAT was not adding to the illegal market and its approach would differ to unauthorised rivals: its products have been subject to due diligence, will be sold via large national retailers and their features and marketing will follow stricter policies.

"It's not about, if you can't beat them, join them," he said.

Public health authorities and researchers are divided over how to weigh the potential benefits of vaping - mainly helping smokers switch away from cancer-causing cigarettes - against risks, including underage use.Booming sales of unregulated disposable vapes, often produced by Chinese companies, have exacerbated divisions. Some offer exceedingly high nicotine hits or flavours like "rainbow bubblegum" and "cookie butter" that critics say are targeted at youth.

The FDA is meant to assess vape products before they go to market and issue licences to those it finds to be, on the whole, beneficial to public health: reducing the burden of smoking without causing new problems, like a surge in youth sales.

Source: Yahoo Finance

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Gerik

Economic

Business Activity Rises for Third Consecutive Month

Eurozone businesses experienced a notable improvement in activity in August, with new orders increasing for the first time since May 2024. The HCOB Flash Eurozone Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 51.1 in August, up from 50.9 in July. This marks the third consecutive month of improvement and the highest PMI reading since May 2024. Readings above 50.0 indicate expansion, signaling positive growth in the region's economy.

The manufacturing sector showed particular strength, with its PMI rising to 50.5 from 49.8 in July, signaling a shift into expansion territory for the first time in more than three years. Manufacturing output grew at its fastest pace in nearly three-and-a-half years, with the subindex climbing to 52.3 from 50.6. On the other hand, the services sector continued to grow but at a slower pace, with its PMI slipping slightly to 50.7 from 51.0.

Germany, Europe’s largest economy, led the growth with its fastest expansion in manufacturing since March, although its services sector underperformed. In France, the downturn in services eased to a marginal decline, the smallest in a year, while other parts of the eurozone experienced softer growth.

Employment Gains Continue, Inflation Pressures Rise

Firms across the eurozone continued to hire for the sixth consecutive month, with job creation accelerating to the fastest pace since June 2024. Employment gains were mostly concentrated in services, while the manufacturing sector continued to see job cuts. Despite the positive employment trend, inflationary pressures intensified in August. Input costs rose at the sharpest rate in five months, with service sector cost inflation reaching its highest point since March. Output prices across the region also increased at the fastest pace in four months.

The increase in inflationary pressures, particularly in the services sector, may be concerning for the European Central Bank (ECB). The ECB had been hoping for slower wage growth to help curb inflation in this sector. However, despite these rising costs, inflation in service-sector selling prices remained steady, offering some relief.

ECB’s Rate Cut Decision

The European Central Bank is expected to hold off on further rate cuts until at least December, according to a Reuters poll, with no clear consensus on the future direction of the deposit rate by the end of the year. Policymakers are likely to assess the evolving economic situation and inflationary trends before making any further adjustments.

While August saw growth in the eurozone’s business activity, driven primarily by the manufacturing sector, concerns over rising inflation and slower growth in services remain. As the ECB monitors these developments, the region’s economic trajectory will depend on balancing growth with inflation management.

Source: Reuters

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Daniel Carter

Political

Switzerland would offer diplomatic immunity to Russian President Vladimir Putin if he were to travel there for potential peace negotiations with Ukraine, Swiss Foreign Minister Ignazio Cassis announced Tuesday.

"We have always expressed our willingness, but of course it depends on the major powers' willingness to engage," Cassis stated, after Monday's White House announcements playing up a meeting between Putin and Zelensky soon.

But the Kremlin itself hasn't confirmed there will actually be such a meeting anytime time soon, with FM Lavrov on Wednesday signaling this could also happen in the future when each side was ready for a finalized peace deal.

The White House seems to be too out front on its 'confirmed' declarations, which aren't confirmed from the Moscow side at all. Trump seems to be pressing hard for a major diplomatic 'win' - but without all the sides being fully on board just yet.

French President Emmanuel Macron suggested Tuesday that Geneva could serve as the location for such talks, while also Italian Foreign Minister Antonio Tajani agreed in calling the Swiss city "a suitable venue."

Of course, Putin has had an International Criminal Court arrest warrant hanging over him since 2023 over alleged war crimes related to the invasion of Ukraine.

This is a similar case with Netanyahu - as both leaders have seen their travel somewhat restricted as a slew of European countries might move to arrest them. Netanyahu and Putin have been having to avoid most travel to basically anywhere in the West.

Putin had earlier in the war refrained from attending a BRICS summit in South Africa due to the ICC warrant. South Africa was feeling pressure from the ICC at the time over the possible trip.

Switzerland's FM Cassis has explained that his government reviewed the legal implications and concluded that due to its unique status and Geneva's role as the European hub for the United Nations, it has the ability to host a summit which would be for the sake of peace and not move on the arrest warrant.