... these economic events will be significant — a weak report could strengthen expectations of imminent dovish policy changes from the Federal Reserve, while an unexpectedly strong report might lead to a sell-off in bonds and a strengthening of the U.S. dollar. In the afternoon, investors will shift their focus to the U.S. industrial sector. At 17:00 MSK, the ISM Manufacturing Index for July will be announced. It is expected that the manufacturing ISM will remain around the neutral mark of 50 points,...

... in PPI may signal rising costs for consumers and businesses, potentially prompting the European Central Bank to adjust its monetary policy stance. Impact on the United States: Changes in Germany's PPI can affect the euro's exchange rate against the dollar, influencing U.S. exports and imports. Additionally, multinational corporations with operations in Europe may experience cost fluctuations impacting their profitability. U.S. EIA Crude Oil Inventory Report (18:30 GMT) The Energy Information Administration's ...

... and trade significantly below previous peaks. Institutional Interest and Crypto ETFs One of the main trends of 2025 has been the expansion of cryptocurrency ETFs. The launch of spot funds for Bitcoin and Ethereum in the US has attracted billions of dollars in investments and significantly heightened institutional interest (BlackRock's Ethereum fund reached $10 billion in assets, and inflows into the Ether ETF exceeded $5 billion in recent weeks). Riding the wave of success, market participants are ...

... Global Expansion: New Markets Entering the Game The venture boom of 2025 has a global character: investment activity is rapidly growing in new markets. In the Middle East, state-funded tech hubs are being created, and startups are attracting billions of dollars. In Southeast Asia and India, new unicorns are emerging, while Africa and Latin America are also attracting significant investments. Such geographical expansion of venture capital heightens competition for promising startups worldwide. Russia ...

... decrease in rate projections for 2025–2026 indicates a softer policy trajectory than previously assumed, due to the reduction of inflationary risks. Ruble Exchange Rate and Financial Markets Following the rate cut, the ruble maintained stability: the dollar exchange rate on the Moscow Exchange remained around 77–79 rubles. This outcome was anticipated, as the easing of policy had already been factored into market expectations. Previously, the ruble was supported by a combination of high rates, export ...