European Markets Wrap-Up: September slowly becoming a given as Fed policymakers become more vocal on rate cuts

Tuesday, 05 Aug, 2025 Central Banks September slowly becoming a given as Fed policymakers become more vocal on rate cuts Fed chair Powell made sure to play his cards right last week. And even though he offered no hints of a rate cut then, it was always about maintaining the flexibility. So now that we got the more disma News InvestingLive Asia-Pacific FX news wrap: Fed's Daly shifts more dovish, September hint Saylor's Strategy acquired US$2.46bn worth of bitcoins last week Goldman Sachs expects September Fed rate cut, up to 50bp if jobs mkt slips further China S&P Services PMI July 2025: 52.6 (expected Learn more Cryptocurrency Saylor's Strategy acquired US$2.46bn worth of bitcoins last week Reports on the latest from evergreen Bitcoin bulls Strategy: purchased 21,021 bitcoins during the period July 28 to August 3 aggregate purchase price of US$2.46bn average purchase price US$117,256. MS Central Banks Goldman Sachs expects September Fed rate cut, up to 50bp if jobs mkt slips further Goldman Sachs expects the Federal Reserve to begin cutting rates in September, projecting three straight 25 basis point reductions. However, the bank says a larger 50bp cut is possible if the next job News China S&P Services PMI July 2025: 52.6 (expected 50.2) China S&P Services PMI July 2025: 52.6, highest since May 2024 expected 50.2, prior 50.6 Composite: 50.8 prior 51.3 Services PMI improvement was driven by stronger domestic demand and a picku News Australian June Household spending +0.5% m/m (prior +1.0%) Australian Bureau of Statistics data for June 2025 Household spending +0.5% m/m prior +1.0% +4.8% y/y prior +4.4% --- Also Job ads in July, ANZ survey -1.0% m/m (prior +1.8% +0.1% y/y 14.4% higher tha Central Banks PBOC sets USD/ CNY central rate at 7.1366 (vs. estimate at 7.1667) The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate sy News New Zealand data - July Commodity prices -1.8% m/m (prior -2.4) New Zealand ANZ World Commodity Price Index, July 2025 -1.8% m/m prior -2.4% ANZ cite lower dairy product prices weighed +10.7% y/y, ANZ say supported by higher dairy and red meat prices The NZD Commo Learn more Stock market update Trump will be on CNBC Squawk Box Tuesday 8am US time - pre mkt Trump will be on CNBC Squawk Box Tuesday 8am US time - pre mkt. You don't need me to tell you he ain't gonna be bearish, right? --- CNBC's Squawk Box is a live, weekday morning program focused on pre-

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