A new Bitcoin whitepaper is putting more focus on Bitcoin than Ethereum. At the same time Ethereum is showing some weakness. Is Bitcoin the clear number one?

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Global banks, including the US regional banks, rebounded sharply on Tuesday. The US inflation data came in line with expectations on a yearly basis. Yet, the uptick in core inflation on a monthly basis to 0.5% - a five-month high, and the stickiness of services inflation above the 7% mark, revived the expectation of a 25bp hike from the Federal Reserve (Fed) at next week’s monetary policy meeting. In Europe, the EURUSD is drilling above its 50-DMA, 1.0730, in the run up to Thursday’s European Central Bank (ECB) meeting, where the European policymakers could maintain the plan of a 50bp hike. In the UK, investors can’t wait to hear what Jeremy Hunt will propose to boost growth. Listen to find out more!

Donald Trump paused tariffs imposed on Canadian and Mexican imports two days after imposing 25% levies on its biggest trade partners’ products amid sanguine market reaction and resistance from trade partners. Beyond the politicians who refused to surrender, Walmart’s Chinese suppliers reportedly refused to take on a 10% price cut on their products while Europe is looking to replace Elon Musk’s Starlink in Ukraine by a European alternative, the French satellite operator Eutelsat, to make sure not to give the communication capabilities into the hands of a no-ally-anymore. Eutelsat’s stock price gained more than 500% in just a week. The European defense stocks consolidate gains near ATH levels as the European countries agreed to spend EUR 800bn for strengthening their defense and security. On top, the European Central Bank (ECB) delivered another 25bp cut at yesterday’s meeting, as expected, but hinted that the rate cutting cycle could gently be coming to an end after six rate cuts as inflation is approaching their 2% policy target. The EURUSD is on a bullish trend while selloff in the US barely affects appetite in Europe. Anyway, this morning, the market mood is a little bit better for the US equity futures. Broadcom jumped nearly 13% in the afterhours trading after announcing better-than-expected quarterly results and after giving a strong forecast. All eyes are on the US jobs data due later today. Listen to find out more!

The week kicks off on a weak note following a moody trading session across Europe and the US on Friday. One of the most significant moves of last two trading days of the US was a 10% selloff in Nvidia sales for ... no reason other than the fact that it was the end of the month, the end of the quarter and the end of H1. And the problem with that is, because the US Big Tech stocks led by Nvidia were responsible for most of this year’s rally in major US indices, any weakness could derail the rally. This week, the US will reveal its latest GDP update on Thursday and core PCE data on Friday. The latter better be soft enough to prevent a broader selloff in US indices. On the individual front, FedEx and Micron Technology are due to release earnings. Elsewhere, appetite is limited. The Stoxx 600 in Europe was toppish last week as the French political uncertainties occupied the headlines. The EURUSD is under pressure. In Japan, the USDJPY is dangerously flirting with the 160 level – a level which had brought the Japanese policymakers to intervene to stop the bleeding back in April. In energy, US crude is lower this Monday morning after having tested and failed to clear the $82pb resistance last Friday. Chinese equities begin the week on continued downside pressure, while Indian assets will likely benefit from the Indian government bonds’ inclusion to a JP Morgan global bond index. Listen to find out more!