|

Donald Trump vows to bring federal military to more US cities

US President Donald Trump hit his stride on Monday, taking to social media and also addressing reporters at the White House to declare his intention to forcefully insert military forces under his control into cities that he personally deems require it, regardless of legality or constitutional breaches. Trump also doubled down on his claims that a Venezuelan boat that was attacked by US forces was a "drug boat", while also washing his hands of any knowledge or involvement in Israeli Prime Minister Benjamin Netenyahu's decision to launch military strikes into Qatar.

Trump also declared that trade talks with China are still ongoing, but avoided making any firm declarations around the forced sale of TikTok. Trump also had very little to say about his attempt to terminate Dr. Lisa Cook's position on the Federal Reserve (Fed), despite a statement from Michigan officials that no immediate evidence or proof exists that Dr. Cook actually broke any tax rules.

Key highlights

Trump calls on Hamas to release hostages or "all bets are off".
We're probably going to go into Chicago next.
I will sign a memorandum to establish the Memphis Safe Task Force and the task force will be a replica of efforts in Washington D.C.
The effort in Memphis will include the National Guard.
We need to save St. Louis.
Aiming to reach St. Louis, New Orleans as well.
Have 'recorded evidence’ on Venezuela drug boat.
Netanyahu did not warn me before strike.
Undecided on TikTok stake.
Trump to speak with Xi about a "significant agreement".
Believe discussion with Xi will confirm things.
Maybe TikTok could bring us closer to China.
Netanyahu will not be visiting Qatar.

Author

Joshua Gibson

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

More from Joshua Gibson
Share:

Editor's Picks

GBP/USD defends 1.3300 after strong UK PMI data

Following Thursday's sharp decline, GBP/USD clings to small gains above 1.3300 in the European session Friday, supported by the upbeat UK Retail Sales and July PMI data. Nevertheless, the pair's upside remains capped as investors cling to a cautious stance amid a further escalation of tensions in the Middle East. The US economic calendar will feature preliminary July PMI data later in the day.

EUR/USD retreats below 1.1400 ahead of US PMI

EUR/USD loses its traction and trades below 1.1400 on Friday, following a recovery attempt on upbeat Eurozone and German PMI data earlier in the day. The risk-averse market atmosphere helps the US Dollar (USD) hold its ground as market focus shifts to preliminary July PMI data from the US.

Gold recovers above $4,050 but struggles to gather momentum

Gold builds on its modest intraday bounce and climbs back above the $4,050 level, hitting a fresh daily high amid a modest US Dollar pullback. The fundamental backdrop, however, warrants some caution before confirming that the pullback from an over two-week high, touched on Wednesday, has run its course and positioning for any meaningful upside.

Ethereum: Derivatives interest in ETH improves, but signs of caution remain

Ethereum is hovering slightly below the $1,900 level, down 3% on Thursday following a slight expansion in derivatives interest. The top altcoin's open interest has increased to 14.60 million ETH, marking a 600K ETH increase over the past two days and its highest level since June 7.

Crypto Market Overview: Bitcoin tests 50-day EMA support – Pi Network and Sky lead losses

The broader cryptocurrency market faces headwinds with rising tensions between the US and Iran, pushing Bitcoin down to its 50-day Exponential Moving Average support around $65,135 on Friday. Under pressure, Pi Network and Sky emerge as the worst-performing crypto assets over the last 24 hours.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?
The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.