Nurp Newsletter
June 2025

Anticipating the inflection point

Markets right now are standing at a crossroads. In this edition of our monthly newsletter we will:

  • Track the catalysts driving currencies, crypto, gold, and oil;
  • Assess how defensive positioning has evolved;
  • Examine why the coming AI singularity matters to portfolio construction.

 

June rewarded those who were prepared—not just reactive. At Nurp, our trading algorithms are built to anticipate and adapt. This month, our Gold Digger algorithm led pack, delivering the incredible performance with the Argos algorithm trailing close behind.

Year to date in 2025, Nurp’s Argos algorithm has delivered a 24.18% gain—more than 5x the S&P 500’s 5% return over the same period. Meanwhile, our Gold Digger algorithm has seen 42.28% gain YTD*

See Nurp’s June performance on MyFXBooks.

*As of 6/30/2025

Key events impacting markets

Gold: stability amidst market fluctuations

Gold prices remained relatively stable in May, hovering around the $3,000 mark. This steadiness suggests a balance between inflationary pressures and investor confidence. Nurp’s Gold Digger algorithm adeptly navigated these conditions, capitalizing on subtle market movements while maintaining a conservative risk profile.

Crypto: Bitcoin’s record-breaking surge

Bitcoin’s ascent to $111,999 underscores the growing institutional interest and regulatory clarity in the crypto space. Nurp’s Buterin algorithm leveraged this momentum, achieving a year-to-date gain of 41.08% as of May 27, 2025. Ethereum’s consistent performance above $2,700 further indicates a maturing market.

Forex: USD’s unexpected strength

The U.S. dollar’s strength, despite credit concerns, highlights the complexities of global currency markets. Nurp’s Argos algorithm adeptly adjusted to these dynamics, delivering a year-to-date gain of 19.68% by May 27, 2025. Such adaptability showcases the algorithm’s robustness in volatile conditions.

Market Snapshot
Forex Highlights
  • Dollar strength: DXY hovers near 98.2 as investors seek safety and the Fed announced no upcoming rate cuts.
  • European Central Bank: Deposit rate reduced to 2.00 percent on 5 June, its eighth trim in a year.
  • Bank of England : After a 25 bp cut in May, policymakers are expected to hold at 4.25 percent when they meet later this month.
  • Asia liquidity:
    • The Reserve Bank of India is preparing variable-rate reverse-repo auctions to drain surplus cash.
    • The People’s Bank of China injected three-month funds in a surprise mid-month move to steady money-market rates.
Crypto Highlights
  • Bitcoin: Pull-back to ~$107k after May’s record run above $111k; volatility gauges suggest a fresh break-out is forming.
  • Ethereum: Steady near $2,600 while capital rotates toward real-world-asset and AI-linked altcoins.
  • Market cap: Total crypto value remains above US$3.3T, signalling resilient risk appetite, though the volatility (of which crypto is notorious) continues
Commodities & Safe-Havens
  • Gold: Briefly topped $3,402 on June 12, 2025, now consolidating just below $3,300 as haven demand stays firm.
  • Oil: Brent settled at $74.23 on June 13, 2025, up roughly 12 percent week-on-week amid Israel-Iran strikes; WTI traded north of $77.

Algorithm spotlight: Gold Digger dynamically hedged long exposure during the spike, keeping drawdown relatively limited while capturing part of the upside.

Macro Watch: FOMC Meeting On June 18, 2025

The Fed left rates unchanged at 4.25-4.50 %, yet its dot-plot now shows just two quarter-point cuts penciled in for 2025 and a single cut spread over 2026-27, pointing to a shallower easing path. Fresh projections look slightly stagflationary, shaving next year’s GDP growth to 1.4 % while lifting core PCE inflation to 3.1 % and unemployment to 4.5 %. Seven of 19 officials now anticipate no cuts this year, and Chair Powell said tariff-related price pressures give the Fed room to wait for clearer data. Even so, futures still peg the first possible cut to the September 16-17 meeting, and markets took the news in stride.

What this means for Nurp portfolios: A “higher-for-longer” backdrop and tariff-linked inflation risk should keep macro volatility elevated—exactly the environment our diversified, multi-algorithm strategies are built to manage.

AI Singularity: How Near, How Transformative, How to Prepare

The singularity describes a future inflection where machine intelligence not only matches human capability but begins to improve itself in a rapid feedback loop. At that point the pace of discovery could outstrip human governance and reshape every sector.

When could it arrive

SourceForecast year for AGI or SingularityRationale
Ray KurzweilAGI by 2029; Singularity by 2045Continues exponential hardware trend and algorithmic scaling.
Anthropic CEO Dario Amodei“Outsmart most humans by 2026”Large-model capability is advancing faster than expected.
DeepMind’s Demis HassabisAGI possible “in the 2030s”Progress in multimodal agents and symbolic reasoning.
Critics such as Gary Marcus“Multiple breakthroughs still missing”True reasoning and grounded semantics remain unsolved.
Signposts worth tracking
  • Compute alliances: OpenAI’s June deal to rent Google TPU clusters shows that raw processing power remains the bottleneck.
  • Capital flows: Meta’s multi-billion acquisition of Scale AI talent underlines the premium on data curation for superintelligence projects.
  • Policy momentum: OpenAI’s January blueprint urges US lawmakers to ring-fence chips and energy for domestic AI, signalling that geopolitics will shape the race as much as research breakthroughs.
  • Safety frameworks: The Paris AI Action Summit called for minimum global safety standards; academics such as Stuart Russell warn that governance must keep pace with capability.
Implications for capital markets
  1. Compression of information advantage – Autonomous agents could ingest public data instantly, eroding traditional research edges. Returns may flow to investors with privileged data channels or proprietary compute.
  2. Productivity shock – If general-purpose AI drives a step-change in output, discount rates and growth assumptions could reset, producing valuation swings that rival the internet boom.
  3. Regime volatility – Policy responses—export controls, safety compliance costs, energy rationing—may introduce tail-risk events that favour optionality and long volatility strategies.
  4. Ethical premium – Firms that demonstrate verifiable alignment and robust auditing could command higher multiples, similar to today’s ESG premium but tied to AI governance.

The singularity timeline is uncertain, yet the competitive landscape is already shifting in its shadow. Investors who watch the signposts, and position portfolios for high-velocity change, stand to benefit most, whatever the exact arrival date.

Product Milestones

At Nurp, every line of code, partnership, and product decision is driven by a single goal: delivering a smoother, smarter, and more rewarding experience for you. Whether we’re refining algorithms to tighten risk controls, testing new strategies to unlock fresh alpha, or launching a redesigned client dashboard that puts deeper insights at your fingertips, our focus never changes: constant optimization to better serve your success.

We never stop tightening the bolts under the hood. Here are June’s fresh product moves:

  • All-Weather – Six algos live; three candidates in late-stage testing. A new GBP module is being vetted and will auto-deploy once cleared – no client action needed.
  • Dalio V3 – Now live across All-Weather and Dalio-Gold accounts. A standalone Dalio-only master account is set to go live by the end of the month.
  • Gold Digger V2 – Neural-net retrain finished; final tuning wraps this month, with live testing slated for early Q3 2025.
  • Next-Gen Dashboard – Sleeker licensing & analytics portal launches within 30 days, delivering deeper stats and full self-service controls.
  • High-Yield Add-On (All-Weather + Argos) – Targeting ~10 % net monthly return; limited pilot invitation coming soon.

 

 

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Important information and disclosures

This material was prepared by Nurp LLC (“Nurp”) and is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security or other financial products. Any decision to purchase futures, securities or other digital assets mentioned in the material must take into account existing public information on such security or any registered prospectus. Nurp does not provide commodity trading advice based on, or tailored to, the commodity interest or cash market positions or other circumstances or characteristics of particular clients nor does Nurp direct any subscriber accounts. Past performance is not a guarantee or indication of future results. This presentation does not take into account the investment objectives, financial situation, or particular needs of any particular person. Investing in futures, securities and other financial products entails certain risks, including the possible loss of the entire principal amount invested. Certain investments in particular, including those involving structured products, futures, options, digital assets and other derivatives, are complex, may entail substantial risk, and are not suitable for all investors. The price and value of, and income produced by, securities and other financial products may fluctuate and may be adversely impacted by exchange rates, interest rates, or other factors. Certain securities and other digital assets may not be registered with, or subject to the reporting requirements of the U.S. Securities and Exchange Commission or any comparable regulatory authority. Information available on such securities may be limited. Investors should obtain advice from their own tax, financial, legal, and other advisors and only make investment decisions on the basis of the investor’s own objectives, experience, and resources. Nurp has no duty to update this presentation, and the opinions, estimates, and other views expressed in this presentation may change without notice. No liability whatsoever is accepted for any loss (whether direct, indirect, or consequential) that may arise from any use of the information contained in or derived from this presentation. Although information has been obtained from and is based upon sources that Nurp believes to be reliable, we do not guarantee its accuracy and it may be incomplete and condensed. This communication is not intended to forecast or predict future events. Past performance is not a guarantee or indication of future results. All opinions, projections and estimates constitute the judgment of the author as of the date of the presentation and these, plus any other information contained in the Product, are subject to change without notice. Prices and availability of financial instruments also are subject to change without notice. Nurp does not provide tax advice and nothing contained herein is intended to be, or should be construed as, tax advice. Any discussion of US tax matters contained in this presentation was written to support the promotion or marketing of the transactions or other matters addressed herein and is not intended to be used, and must not be used by any recipient, for the purpose of avoiding US federal tax penalties. Recipients of this presentation should seek tax advice based on the recipient’s own particular circumstances from an independent tax adviser.

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AI Quantitative
Researcher

Bingham Zhou

Bingham Zhou, CFA, has over 15 years of experience as a quantitative researcher. His expertise spans systematic equity strategies, CTA trend-following, and interest rate proprietary trading in both U.S. and Asian markets. He holds advanced degrees from MIT, Carnegie Mellon, and Yale.

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Quant–Investment Strategist
Greg doscher

Greg Doscher was a CFO for many years who built out many quantitative strategies and investment tools to manage and enhance risk adjusted returns in the company’s pension plan. Prior to joining Nurp, he consolidated his skills in coding and discretionary trading to develop a comprehensive and fully automated algorithmic trading system deployed across 200+ futures markets and cryptocurrencies that encompassed all of the trading strategies he had honed over the last 22 years in finance

Quant–Investment Strategist
Marcin Borratynski

Marcin was Head of Quant IT at the USD 4bn+ CERN Pension Fund, where he spent nearly a decade building quantitative asset allocation systems and implementing algorithmic investment strategies for a multi-asset institutional portfolio.Before joining Nurp Marcin was also Senior Quant Strategist at Evooq, a Swiss-based fund managing four strategies across equities, gold, and equity derivatives.Marcin holds a degree in Computer Science an MBA from the University of Geneva and the Certificate in Quantitative Finance (CQF).

Product Manager

Abhayjit Anand

Abhay has worked with Nurp since 2022. As a Product Strategist, he focuses on building, refining, and commercializing algorithmic trading strategies. He brings seven years of experience in financial trading – combining macro research, technical analysis, quantitative strategy development, and market psychology. Alongside his work at Nurp, Abhay also serves as an Investment Analyst at Orca Capital. Before entering financial markets professionally, he spent eight years at IBM, including three years in the AI & data division as a Delivery Lead managing complex implementation projects.