US considers blacklisting China tech firm SMIC – CNBC

Dhwani Mehta FXStreet

US is reportedly mulling imposing controls on China’s state-owned Semiconductor Manufacturing International Corporation (SMIC).

Additional details

The firm is key player in China's effort to boost its domestic semiconductor industry.

Imposing export controls on SMIC would impact US companies that sell chip-making technology to China manufacturers.

The administration’s move is part of a continued effort to put pressure on China’s technology firms.

A Defense Department spokesperson said, “DoD is currently working with the interagency in assessing available information to determine if SMIC’s actions warrant adding them to the Department of Commerce’s Entity List.”

“We have no relationship with the Chinese military. Any assumptions of the Company’s ties with the Chinese military are untrue statements and false accusations,” SMIC responded.

Market reaction

The above report is likely to add to the risk-off market mood, as the Sino-American tech tensions escalate.

However, the Chinese proxy, the aussie dollar stands resilient, with AUD/USD adding 0.19% to trade near 0.7290, at the press time.

S&P 500 futures turn positive near the 3420 region.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD hovers around daily lows near 1.3450

GBP/USD trades with decent losses on Thursday, revisiting the 1.3450 zone. Cable’s resumption of the selling interest comes after two daily advances in a row and follows the improved sentiment around the Greenback amid fresh concerns in the Middle East.

EUR/USD slips back to two-day lows near 1.1510

EUR/USD faces some renewed downside pressure and retests the low 1.1500s in the latter part of Thursday’s NA session. The move lower in spot comes after two daily advances in a row and follows the fresh bid bias in the US Dollar amid the re-emergence of some effervescence in the Middle East. Moving forward, US NFP data will take centre stage on Friday.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

Ethereum Price Forecast: Whales absorb retail distribution as bear market nears late stage

Ethereum (ETH) large holders have been accumulating the supply of retail investors in 2026. In a report released late Wednesday, CryptoQuant analysts highlighted that the supply of the 1K-10K ETH cohort has fallen from 15.6 million ETH in January to roughly 12.9 million ETH.

Markets question Fed's inflation resolve after July FOMC meeting

Federal Reserve Chairman Kevin Warsh continues to project a tough stance on inflation, repeatedly promising to restore price stability and keep inflation anchored at the central bank's longstanding 2% target. But according to Mike Maharrey in this week's Money Metals Midweek Memo, markets are beginning to judge the Fed by its actions rather than its rhetoric—and so far, they aren't convinced.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.