As every Sunday, the most important news from the past week, as well as the most important dates for the coming week.
Also as a video:
https://youtube.com/shorts/0IVYpwsaKFs?si=LkXQjD8KIViA2p0p
Monday:
The subsidy rules for renewables in the USA are less strict than assumed. Various companies such as $VWS (+0,21%) Vestas or $FSLR (+4,47%) First Solar benefit from this and can make significant gains. Accordingly, many projects will still receive tax breaks if they are started before July 4, 2026. This could lead to many projects being started sooner than originally planned.
Wednesday:
Good news with a view to future inflation. Producer prices fell further in July, by 1.5% year-on-year. Economists had. only expected 1.3 %. Lower energy costs are primarily responsible for this.
Donald Trump is benefiting massively from cryptocurrency profits. In our view, the US president is exposed to an enormous conflict of interest here. Through his investments, he is profiting from his own laws. We are not talking about a few thousand euros here, but several hundred million, if not billions, of USD.
Thursday:
Harvard economist and professor Kenneth Rogoff also indirectly criticized this massive conflict of interest of the "regulatory authorities" in the US. Rogoff became famous in 2018 for his forecast in which he claimed that the $BTC (+0,54%) BTC would be worth USD 100 in a decade and not USD 100,000. Today, he sees the cause of his misjudgement primarily in the overestimation of the US regulatory authorities and the rise of BTC, driven above all by its use in the shadow economy.
Meanwhile, there is good data from the Purchasing Managers' Index for the EUR area. This rose to 51.1 points, whereas economists had expected a decline. The rise in industry in particular was a positive surprise. The index for service providers fell slightly to 50.7 points. Values above 50 signal growth.
Friday:
It almost seems as if the markets have been waiting for nothing else. Jerome Powell holds out the prospect of interest rate cuts by the Fed in his speech in Jackson Hole and the markets rally towards the weekend. The markets are 91% expecting a rate cut on September 17.
These are the most important dates for the coming week:
Monday: 10:00 ifo Business Climate Index (DE)
Thursday: 13:00 GDP figures (USA)
Friday: 14:00 Inflation data (DE)
Can you think of any other dates? Write it in the comments