Facts of the week:
• General weakening of the US dollar, yuan. The rise in the price of the yen and gold to 1906 USD;
• The yield on 10-year US bonds declined;
• American stock indices showed a decline from -0.6% to -1.3%;
• In some states, the process of relaxing restrictions may be suspended;
• Growth of many alts (ETH, LTC, ADA, etc.);
• The tense situation between the US and China.


On Friday, July 24, trading in the euro ended with a slight decline. Bitcoin fell 0.68% to $ 9,537. Buyers took a break as US stock indexes declined from -0.6% to -0.9%.

The weakening of the dollar was caused by the results of the Eurosummit. EU leaders agreed to create a pandemic recovery fund, and also adopted a budget for 2021-2072. Investors believed in the unity of the EU, and since Europe keeps the spread of the coronavirus under control, unlike the United States, investors have turned their attention to it.

The US dollar acts as a defensive asset and at the same time, investors avoid it because they are worried about the prospects for the American economy. Even if the government proposes another stimulus package, it may be insufficient and overdue.

On the other hand, they buy gold and euros, ignoring the coronavirus incidence statistics. Gold rises in price amid falling yields on 10-year US bonds (fell to 0.558% per annum).

Over the past day, 284.2 thousand cases of coronavirus infection have been registered in the world, which is a record number. More than 6.0 thousand die every day. In the United States, on average, 74 thousand people fall ill per day, and more than 1,000 people die.

The US told China to close the Houston embassy, ​​Beijing closed the US Consulate General in Chengdu. The US believes that China should not respond to the closure of the consulate general in Houston. State Department spokeswoman Morgan Ortagus said the US authorities have put forward this requirement in order to protect the intellectual property and personal information of citizens of the United States.

In the first half of 2019, Bitcoin was highly correlated with gold and yuan amid the U.S.-China trade war. The price rose to 13970. The first stage of the trade agreement has been passed, but the US-China relations have deteriorated and if the United States does not stop playing without limits, it will be on the verge of collapse. Support for Bitcoin, but you need to watch how the stock market reacts to the news.

Foreign investors began to turn to strained relations. In such uncertainty, they began to fix profits, which negatively affects all world exchanges. The people are looking for protective assets (yen, franc, gold, dollar), but if it covers everyone (sale of US bonds, non-execution of futures contracts for gold, technical defaults), I think you can only be saved in cue ball or ether.

US authorities intend to conduct antitrust investigations against Amazon, Apple, Facebook and Google - regulators have to find out if tech companies are abusing their dominant market position. On the back of news of the verification, Facebook shares fell 7.5%, Alphabet (owned by Google) dropped 6%, Amazon 4.6% and Apple 1%.