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Markets are gearing up for a week packed with geopolitical tension, monetary policy updates, and key economic data. All eyes are on the BRICS summit, the Fed's meeting minutes, Trump’s looming tariff deadline, and a new wave of corporate earnings. Meanwhile, cryptocurrencies remain relatively stable—but uncertainty is rising.

Packed Agenda: BRICS Summit, Amazon, and the Fed in Focus
This week kicked off with Monday’s BRICS summit, where further alignment among emerging economies is expected. At the same time, investors are closely watching the U.S. Federal Reserve, which is set to release the minutes from its June meeting on Wednesday—a potential signal on the path of interest rate cuts.
Also looming large is July 9, when the 90-day moratorium on Trump-era tariffs ends. The former president is expected to announce a new wave of "reciprocal" tariffs, set to take effect on August 1. On Sunday, Trump warned of an additional 10% duty for countries he says support "anti-American BRICS policies."

U.S. Credit Data and Amazon Prime Day in the Spotlight
On Tuesday, investors will get a look at U.S. consumer credit data, offering insight into household debt levels and spending behavior—key indicators of recession risk.
At the same time, Amazon’s Prime Day kicks off—extended to four days this year. The massive retail event will be a key gauge of consumer sentiment, as Amazon aims to beat last year’s record sales.
Wednesday brings the Fed’s meeting minutes, offering a glimpse into policymakers' thinking as the market continues to reprice expectations for rate cuts. While last week's jobs report showed strong payroll growth in June, private sector hiring fell to an 8-month low, and average working hours dropped—suggesting the labor market may be losing steam.
On Thursday, new unemployment claims are expected, adding another layer of insight into labor market dynamics.

Europe Steady, Stocks Cautious Amid Trade Tensions
Last week saw U.S. equity indices hit fresh all-time highs:

🔹 S&P 500 closed at 6,279.35

🔹 Nasdaq reached 20,601
The Dow Jones remains near its peak, though analysts warn the rally may be on shaky ground. In Europe, Monday trading was subdued as investors brace for possible trade shocks from Trump’s looming tariffs.
🔹 STOXX 600 hovered at 541.15

🔹 DAX inched higher

🔹 CAC 40, IBEX, and FTSE saw slight declines in early trading

FX and Crypto Markets: Stable for Now, But Watching Closely
The U.S. dollar remains under pressure, hovering near multi-year lows. FX markets are highly sensitive to trade-related headlines, and risk currencies like the Australian and New Zealand dollars have already slipped ahead of their central bank decisions this week.
The global digital asset market saw modest gains and holds above $3.36 trillion, with 24-hour trading volume at $92 billion.
🔹 Bitcoin is trading at $108,615, up 3% over the past 30 days

🔹 Ethereum (ETH) is up more than 4% in the past week, currently at $2,562

🔹 Dogecoin gained 3% in the past 24 hours, though it's still down 8% over the past month

Week Overview
✅ Key events: BRICS summit, Trump’s tariff decisions, Fed minutes

✅ Stocks at all-time highs, but sentiment remains cautious

✅ Crypto markets stable but sensitive to upcoming data

✅ Currencies and equities vulnerable to geopolitical and macro shifts

#BRICS , #Fed , #FederalReserve , #TRUMP , #CryptoNews

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

🔹 Trump renews call for Powell to resign over alleged false testimony before Congress

🔹 Clash over interest rate cuts escalates into a public dispute

🔹 Costly Fed headquarters renovation draws scrutiny from lawmakers

Former President Donald Trump has once again demanded the immediate resignation of Federal Reserve Chair Jerome Powell, claiming Powell misled Congress during testimony related to the expensive renovation of the Fed’s Washington, D.C. headquarters.
The call follows a post by Federal Housing Finance Agency (FHFA) Director Bill Plute, who accused Powell of “political bias” and “deceptive testimony,” urging lawmakers to launch an investigation. Trump echoed the demand on Truth Social, stating: “It’s too late — he must RESIGN immediately!”

Interest Rate Rift Widens Between Trump and Powell
Tensions between Trump and Powell have been building for months over interest rate policy. Powell has remained cautious about cutting rates due to inflation concerns, while Trump argues that higher rates are stifling economic growth.
“If I’m elected, I’ll appoint someone who wants to cut rates,” Trump recently said. “There are plenty of candidates out there.” He went on to call Powell a “stubborn mule” and an “unfit” leader for refusing to lower rates.
While lower interest rates can fuel economic growth, they also carry the risk of inflation — especially in light of Trump’s proposed tariffs, which many analysts warn could increase prices further. Powell acknowledged this at a European Central Bank forum in Portugal, saying the Fed was taking its time to assess the impact of those tariffs before acting.

Limited Presidential Authority to Remove Powell
By law, the U.S. president can only remove the Fed chair “for cause,” which generally refers to misconduct — not disagreements over monetary policy. In fact, the Supreme Court recently ruled against Trump’s broader efforts to fire independent agency officials, which could affect any attempt to oust Powell.
Despite these legal limitations, Trump has indicated that he still plans to replace Powell and has two to three candidates in mind. He also recently sent a letter urging Powell to “significantly” lower the Fed’s benchmark interest rate — currently between 4.25% and 4.5%.

Fed Headquarters Renovation Under Fire
Adding fuel to the controversy are media reports about escalating costs related to the Fed’s headquarters renovation project. Reports have highlighted supposed luxury features, triggering public outcry.
During a Senate hearing last week, Powell pushed back, calling the reports “misleading and inaccurate in many respects.” He stated that many of the “outrageous” details cited by the media were either not part of the current plan or outright false. He also noted that the renovation plans have changed over time and remain open for review.

While the House Financial Services Committee has not officially commented, Judiciary Committee Chair Jim Jordan suggested that lawmakers intend to investigate the matter further.

#TRUMP , #JeromePowell , #USPolitics , #FederalReserve , #Fed

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

🔹 Ripple seeks a U.S. national banking charter

🔹 Aims for direct Fed access and to strengthen its RLUSD stablecoin

🔹 Responding to regulatory changes and preparing for a leadership role in digital finance

Ripple Expands Beyond Crypto
Ripple, long known for its blockchain-based payment systems and XRP token, is now taking a major step into the world of traditional banking. The company has officially applied for a national banking license in the United States, signaling its ambition to bridge the gap between decentralized and traditional finance.
CEO Brad Garlinghouse confirmed the application, validating weeks of market speculation.

Why Ripple Wants a Banking License

🔹 1. Bridging Crypto and Traditional Finance
Ripple positions itself as a bridge between blockchain and mainstream financial infrastructure. A federal banking license would bolster its reputation and subject the firm to clearer regulatory oversight, which could be critical in wrapping up the ongoing legal battle over XRP.

🔹 2. Access to the Federal Reserve’s Master Account
More important than the license itself is Ripple’s goal of securing a Fed Master Account, which would enable:
Direct custody of RLUSD reserves at the FedReal-time settlements even outside banking hours (24/7)Elimination of third-party counterparty risks
This account is reserved for top-tier institutions, and crypto firms rarely receive such access. If Ripple succeeds, it would mark a historic moment for the industry.

🔹 3. Staying Ahead of Competitors
Similar to what Circle is doing with its trust bank efforts, Ripple is preparing for the next wave of regulatory requirements and aiming to gain a strategic edge – including a faster resolution of its XRP-related legal issues.

🔹 4. Boosting Trust and Institutional Demand
Currently, Ripple’s stablecoin RLUSD is regulated by New York’s Department of Financial Services (NYDFS). A national charter would move oversight under the Office of the Comptroller of the Currency (OCC), enabling dual regulatory supervision – a major credibility boost.
“This dual-layer regulation would set a new standard for compliance and transparency in the stablecoin space,” said Jack McDonald, Ripple’s VP for stablecoins.

🔹 5. Getting Ahead of the GENIUS Act
Ripple’s timing also aligns with the U.S. Congress’ progress on the GENIUS Act, which would require that only federally approved banks can issue dollar-backed stablecoins. Ripple is proactively adapting to this expected legislative shift.

Why Now? Ripple Bets on a Financial Reset
Analysts like Pumpius suggest this move is part of a bigger vision. He compares traditional banks to old rails, while Ripple is building a new financial infrastructure – owning the station and controlling the switches.
“The rules of the game are changing: bank failures, CBDC rollouts, IMF and BIS alignment. Ripple wants to become the default banking layer for the new financial world.”

Market Responds Positively
The news has excited investors. XRP jumped by 5%, while trading volume surged by 35%, highlighting growing confidence in Ripple’s strategic direction.

Conclusion: Ripple Is Building the Financial Rails of the Future
By pursuing a banking license, Fed access, and a robust regulatory foundation for RLUSD, Ripple isn’t just reacting to market shifts – it’s positioning itself as a foundational player in the future of global finance. If successful, this could redefine not only stablecoins but the broader crypto-traditional finance relationship.

#Ripple , #xrp , #RLUSD , #stablecoin , #Fed

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Traders are exiting their bets on a July Fed rate cut following the release of the June US job data. The US unemployment rate dropped below expectations, while the country also added more jobs than analysts expected.
This further strengthens the Fed’s case to wait and see the effects of the tariffs rather than rushing to cut rates.
Traders Increase Bets Against A Fed Rate Cut In July
Polymarket data shows that there is a 94% chance that the Fed will keep interest rates unchanged following the July 30 FOMC meeting. Meanwhile, CME FedWatch data shows that traders have also exited their bets for a rate cut this July.

As we reported earlier, the odds for a 25-basis-point (bps) Fed rate cut rose to around 25% amid hopes that Jerome Powell and the FOMC would bow to pressure from Donald Trump. However, the odds have sharply dropped to 4.7% following the release of the US Job data.

US Bureau of Labor data shows that the total nonfarm payroll employment increased by 147,000 in June, way above the expected 110,000. Meanwhile, the unemployment rate dropped to 4.1%, below expectations of 4,3%.
The market had been pricing in hopes of a July Fed rate cut based on these expectations since a declining labor market could motivate Powell and the FOMC to cut rates at the July 30 meeting.
Powell himself had left the door open to a July interest rate cut when he spoke at the ECB forum on Central Banking in Europe earlier this week. The Fed Chair remarked that he couldn’t say yet whether a July Fed rate cut would happen or not, and that it would depend on incoming data.
This US job data suggests that there is no need for the Fed to rush into cutting rates, as the labor market remains solid. Powell has hammered on this for a while, declaring that they are in a good position just to wait and assess the impact of the Trump tariffs.

#Fed #BTCReclaims110K #OneBigBeautifulBill #TexasBTCReserveBill #FedRateDecisions