United States factory orders dropped by 4.8% in June, which was a bit better than the predicted 4.9% fall. This trend offers a glimpse into how the manufacturing sector performed during that time. The Australian Dollar/US Dollar (AUD/USD) showed a downward trend due to a small recovery in the US Dollar, recent job data, and the potential for Federal Reserve interest rate cuts. At the same time, the EUR/USD pair decreased as the US Dollar strengthened, with traders focusing on upcoming trade news and Fed rate updates. Gold prices remained steady around $3,380 per ounce, supported by mixed US yields and trade uncertainties. In addition, BitMine Immersion Technologies increased its Ethereum holdings to 833,137 ETH following shareholder activities from Bill Miller and ARK Invest. In the Euro area, the economy showed resilience over the summer, boosted by a EU-US agreement and increased spending in Germany. However, there is still a risk of another interest rate cut this year or early 2026 as wage indicators remain weak. Reviewing the June 2025 factory orders, which slipped by 4.8%, we can see the beginnings of a cooling trend in US manufacturing. This trend was supported by the latest July ISM Manufacturing PMI, released just days ago, which recorded a contraction at 48.9. Because of this ongoing weakness, the market is now pricing in an 85% chance of a Federal Reserve rate cut in September, which will likely shape our strategies. The strength of the US Dollar has driven down pairs like the EUR/USD, a trend we expect to see continue. The US Dollar Index (DXY) recently hit a multi-month high of 107.5, confirming this outlook. With Germany’s inflation showing an unexpected drop, the European Central Bank might have to cut rates sooner than expected, making bearish bets on the Euro appealing. For the Australian dollar, the situation looks even grimmer against the strong US Dollar. The Reserve Bank of Australia’s latest statement emphasized its dovish stance, adding pressure on the AUD/USD. We are closely monitoring whether this pair will test the lows seen during the economic uncertainty of 2022. Gold continues to be a central investment for us, holding its ground near $3,380 per ounce. This stability stems from traders expecting lower interest rates, which lessen the appeal of holding non-yielding assets. The rise in open interest for out-of-the-money gold call options suggests that many are betting on a significant price increase if the Fed confirms a dovish shift. We should also keep a close eye on the cryptocurrency market, especially Ethereum. After BitMine’s large accumulation, ETH has shown remarkable strength, recently soaring past $25,000. Open interest in Ethereum options has reached an all-time high, indicating that significant institutional investment is moving in, anticipating more volatility and upside potential.

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