TRUMP AND PUTIN: TENSIONS ESCALATE

Russian President Vladimir Putin refuses to end the invasion launched in February 2022. His offensive has intensified in recent weeks, coinciding with the stagnation of US-led negotiations to halt the fighting in Ukraine. Moscow is setting weekly records for drone launches, supported by a defence industry operating at full capacity.

“We are very, very unhappy with Russia,” Donald Trump declared on Monday during a meeting with NATO chief Mark Rutte at the White House. He also announced the potential imposition of 100% tariffs if no agreement is reached within 50 days. These “secondary tariffs” would also affect Russia’s trade partners, aiming to economically suffocate the nation. Trump and Rutte also unveiled a deal through which NATO would purchase American weapons, including Patriot missile batteries, to supply Ukraine.

CHINA: SLOW BUT STEADY GROWTH

China’s economy showed signs of resilience in the first half of 2025, maintaining its annual growth target despite ongoing trade tensions with the US.

GDP grew 5.2% year-on-year between April and June, slightly exceeding expectations (5.1%) but down from the previous quarter (5.4%). Quarter-on-quarter, GDP rose by 1.1%, beating the forecast of 0.9%. This puts China’s cumulative 2025 growth at 5.3%, surpassing the official 5% target.

NVIDIA: NEW MOMENTUM IN CHINA

Nvidia announced on Monday that it will soon resume sales of its H20 processor in China following improved relations between Washington and Beijing. Additionally, the company will launch a new graphics processing unit designed for AI-driven smart factories and logistics. Shares rose 3.6% in after-hours trading.

This move comes after the partial lifting of US chip export restrictions to China, allowing major chip designers like Nvidia to resume sales in the country.

BITCOIN: ALL-TIME HIGHS

Bitcoin has exceeded $122,000 for the first time, reaching a market capitalisation of $2.42 trillion – surpassing the GDP of countries like Spain (forecast at €1.53 trillion for 2025).

The circulating supply now stands at 19.89 million BTC out of a capped total of 21 million. Boosted by Bitcoin and other cryptocurrencies such as Ethereum, the global crypto market capitalisation has hit $3.81 trillion.

XRP HITS $3: HEADING FOR NEW HIGHS

XRP has climbed back above $3, breaking out of a bullish flag pattern. If the momentum continues, the token could surpass its all-time high of $3.40.

Ripple Labs, XRP’s parent company, boasts a strong global network of strategic partnerships:
• SBI Holdings (Japan)
• Banco Santander (Spain)
• Standard Chartered (UK)
• Bank of America (USA)

GOOGLE INVESTS IN CLEAN ENERGY

Google has signed the world’s largest corporate hydropower deal with Brookfield Asset Management (TSX:BAM): $3 billion worth of 20-year energy purchase agreements involving two hydroelectric plants in Pennsylvania.

Google’s total investment in AI and energy is estimated to reach $70 billion. The AI boom has pushed US electricity consumption to record levels after decades of stagnation.

UBER & BAIDU: AUTONOMOUS VEHICLE ALLIANCE

Baidu and Uber have announced a multi-year strategic partnership to deploy thousands of Baidu Apollo Go autonomous vehicles on Uber’s platform outside the US and mainland China. Initial launches are expected in Asia and the Middle East later this year.

Apollo Go currently operates over 1,000 fully autonomous vehicles across 15 cities and has surpassed 11 million public rides.

STOCK INDEXES IN THE RED

US stock indices fell following reports that Donald Trump might soon dismiss Federal Reserve Chair Jerome Powell. This also impacted the EUR/USD pair, triggering a sharp dollar sell-off and appreciation of the euro.
• Dow Jones: -0.23%
• S&P 500: -0.26%
• Nasdaq: -0.27%

YPF SECURES HISTORIC FUNDING

A consortium led by YPF has agreed to a $2 billion syndicated loan with international banks to construct a major oil pipeline. This marks the largest corporate credit operation in Argentina’s energy sector in over 20 years.

DOGECOIN SURGES

Dogecoin rose 5% after Elon Musk expressed renewed support for cryptocurrencies and announcements by the America Party. DOGE reached a market capitalisation of $25.89 billion, with daily trading volume exceeding $1.48 billion (+295%).