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Bitcoin dominance is at a pivotal moment, testing key support levels that could determine market direction. A bounce from these zones may signal temporary stability, while a breakdown could trigger deeper declines and shift attention toward altcoins. Market Structure Signals Growing Vulnerability According to @Crypto_TheBoss in a recent market update, Bitcoin dominance has slipped below the 60% support level, signaling a notable change in market dynamics. This breakdown points to a weakening grip for Bitcoin as capital flows begin to diversify into other areas of the crypto market. Moves like this often act as early signals of potential altcoin strength, as traders look beyond Bitcoin for opportunities. The analyst noted that Bitcoin dominance has bounced from the 58% area, showing that some buying pressure emerged to defend the level. This bounce highlights temporary stability, but it does not yet confirm a recovery. Instead, it reflects a cautious response from the market, where buyers are attempting to prevent further declines while broader sentiment remains uncertain. Looking ahead, @Crypto_TheBoss explained that if the 58% level fails to hold, Fibonacci retracement zones could act as key areas of support. Losing this support would deepen the bearish outlook and likely accelerate capital rotation into altcoins, shifting momentum away from Bitcoin’s leadership in the market. Positive And Negative Technical Signals @Crypto_TheBoss went on to highlight that the bounce from support shows buyers stepped in and temporarily halted the downside pressure. This kind of reaction often reflects how market participants are still willing to defend critical levels, even when sentiment leans toward caution. By holding above support, Bitcoin dominance was able to avoid a deeper immediate drop, though uncertainty still lingers. The analyst further emphasized that Fibonacci levels are widely used in technical analysis as reliable support and resistance zones. For Bitcoin dominance, the Fibonacci structure provides a technical roadmap, guiding market participants on where the price may either stall, reverse, or accelerate if another leg lower unfolds. In a negative scenario, @Crypto_TheBoss cautioned that losing the 58% support could trigger stronger selling pressure, pushing dominance further down. A breakdown below this level would not only signal structural weakness but also reinforce the narrative of Bitcoin losing its edge in market control. Such a scenario is often interpreted as a sign of capital rotation into altcoins. As Bitcoin dominance decreases, investor attention tends to shift toward alternative cryptocurrencies, sparking renewed activity and potentially driving sharp moves in the altcoin sector. This rotation could set the stage for fresh momentum in altcoins, particularly if Bitcoin struggles to quickly reclaim its lost ground.

India’s pension regulator may look to relax its investment restrictions after calls by fund managers to boost their gold holdings in their portfolio, Bloomberg News has reported. According to sources cited by Bloomberg, retirement fund managers held a series of meetings with senior officials from the Pension Fund Regulatory and Development Authority last month, requesting permission in invest in gold exchange-traded funds (ETFs). In addition, they also asked for relaxed rules around real estate investment trusts and infrastructure trusts. The sources followed up by saying that the regulator is now considering the proposal, and has even sent draft documents on gold investments to the funds for feedback. The request follows repeated calls in recent months by India’s pension industry seeking more flexibility in their investments. Under current regulations, gold, real estate and infrastructure funds are all treated as alternative assets in India, meaning they can only represent 5% of the country’s total investments in pension funds. While the pension regulator is yet to agree to the proposed changes, the intention by fund managers to include gold ETFs is clear — as one of the best performing assets this year, gold would undoubtedly contribute to the funds’ goal of growing the retirement savings pool rapidly. Bloomberg estimates that assets held in India’s pension funds have more than tripled since the pandemic, driven by economic growth and the country’s rising participation in the financial system. The fund managers collectively manage about 15.5 trillion rupees ($177 billion), according to the report. An easing of the 5% limit on gold ETFs would further boost the funds’ growth. Some of India’s largest gold ETFs have logged price increases of close to 30% so far in 2025, according to data compiled by Bloomberg.

Bitcoin is currently consolidating within a narrow range, trading below the $115,000 level while holding key support above $110,000. This consolidation reflects the ongoing tug-of-war between bulls and bears, as volatility continues to push the market in both directions. Despite the temporary stability, recent price action shows that selling pressure has gained a slight edge, leaving traders cautious about the next major move. Top analyst Darkfost has highlighted an important on-chain development that adds context to this phase. According to his data, the percentage of Bitcoin supply in profit has now reached a historically critical threshold. This metric, which tracks how much of the circulating supply is currently above its cost basis, has long been a key guidepost for identifying major phases of the cycle. While a large share of supply in profit is not inherently bearish, history shows that such levels often coincide with pivotal turning points in Bitcoin’s market structure. With BTC consolidating in this crucial zone and profit supply peaking, the market stands at a delicate moment. Whether Bitcoin can reclaim momentum above $115K or faces a deeper correction may depend on how investors react to this latest signal. Bitcoin Supply In Profit Reaches Critical Cycle Zone According to top analyst Darkfost, the current level of Bitcoin supply in profit carries far more nuance than many assume. While some investors interpret a large share of coins in profit as a bearish warning, Darkfost emphasizes that it is, in fact, a necessary component of Bitcoin’s cyclical behavior. Contrary to what many might think, he explains, “a high percentage of supply in profit is what fuels the euphoric waves that drive the market forward.” Looking at history, the long-term average of supply in profit sits at roughly 75%, defined by a bell curve of Bitcoin’s performance since inception. In other words, across cycles, three-quarters of supply tends to sit in profit at any given time. When this ratio climbs above 90%, it usually signals a period of strong bullish momentum — the kind often seen in major bull markets. Such elevated levels create the psychological backdrop for rallies to extend, as confidence builds and capital flows into the market. However, Darkfost also warns that this metric can signal turning points. Once the percentage of supply in profit drops back below 90%, the market often transitions into corrective phases. These can be short-lived pullbacks or prolonged downturns, but historically, the break beneath that line has marked the shift away from euphoria. Bitcoin’s position near this threshold highlights the stakes. If supply in profit remains elevated, the market could continue its upward march. If not, the risk of a deeper correction grows, reinforcing the importance of this metric as a cycle-defining indicator. Bulls Struggle To Regain Momentum After Pullback Bitcoin is trading near $112,900 after a rebound from lows around $110,800, yet the chart shows that momentum remains fragile. Following the rejection at $123,000 earlier this month, BTC entered a corrective phase, slipping below both the 50-day and 100-day moving averages, which now act as resistance near $115,700–$116,600. This area stands out as the immediate barrier for bulls to reclaim if they want to shift the trend back in their favor. The 200-day moving average at $111,600 is currently providing a layer of support, helping BTC stabilize after recent volatility. Holding this zone will be crucial in preventing a deeper retrace toward the $108,000 region. If buyers can defend this level while building momentum, the market could stage a relief rally back toward the mid-$115K range. However, failure to reclaim the moving averages would leave BTC vulnerable to extended downside pressure. The inability to hold above $115K has already signaled fading strength, and without a decisive breakout, sellers could regain control. For now, Bitcoin sits in a consolidation phase, caught between critical support and resistance, with the next move likely to determine whether the market stabilizes or slides further. Featured image from Dall-E, chart from TradingView

Is Platinum More Expensive Than Gold? If you are asking, “Is platinum more expensive than gold?” you are really asking how two very different markets set value. Prices move every day, but the drivers are consistent: gold trades like a global monetary hedge, while platinum trades like a specialized industrial metal. Understanding those roles—plus supply risks, liquidity, and premiums—helps you make steady, confident decisions instead of reacting to headlines. Is Platinum More Expensive Than Gold? The Price Drivers Gold typically commands a higher price because it functions as a store of value across borders and generations. Central banks hold it. Investors use it to hedge inflation, currency risk, and political turmoil. That relentless “monetary bid” supports gold’s price through booms and busts. Platinum’s price, by contrast, depends mainly on industry. It is used in catalytic converters, chemical processing, glass manufacturing, and emerging energy technologies. When factories slow or auto sales soften, platinum demand cools and prices can lag gold—even though platinum is scarce in the earth’s crust. Supply concentration adds another twist, with a large share mined in South Africa and Russia, making the market sensitive to power issues, labor strikes, or logistics disruptions. Gold reacts to fear, policy, real interest rates, and currency moves. Platinum reacts to manufacturing cycles, auto production, energy tech, and supply hiccups. History in Brief: When Platinum Led and When Gold Took Over There have been periods—particularly in the early to mid-2000s—when platinum traded at a premium to gold. Strong auto demand and tight supply chains pushed platinum higher. The 2008 financial crisis flipped the script: safe-haven demand drove gold upward while industrial demand for platinum weakened. Since then, gold has often held the lead as central banks accumulated reserves and investors continued to hedge macro risks. The lesson is not that one metal “wins” forever. Leadership shifts with the story. If industries ramp up and clean-energy technologies scale, platinum can regain momentum. If inflation, policy errors, or currency worries intensify, gold typically benefits first. Use Cases: Jewelry, Industry, and Investment Demand Gold’s Three-Legged Stool Gold demand rests on three sturdy legs: money, jewelry, and investment. Brides in India, central bankers in Europe, and retirees in America all understand gold’s role. It is easy to price, easy to sell, and recognized almost everywhere. That broad base keeps demand resilient through changing cycles. Platinum’s Industrial Backbone Platinum shines in jewelry for its durability and naturally white luster, but its backbone is industrial demand—especially emissions control, petrochemicals, and specialized manufacturing. These uses are vital yet cyclical. Demand surges when production ramps, and it softens when order books shrink. New technologies—fuel cells, green hydrogen, and catalyst innovations—can spark the next leg of platinum demand. Volatility, Liquidity, and Market Depth Gold is the heavyweight of precious-metals trading. It enjoys deep, global liquidity, typically tighter bid-ask spreads, and faster execution. In stressful markets, you usually find a ready bid, which can make price moves more orderly. Platinum’s market is thinner. That can mean wider spreads and bigger moves—exciting for active traders, but less comfortable for buy-and-hold investors who value quiet nights. The takeaway is simple: know your temperament. If you prefer calmer execution and faster resale, gold’s market structure may suit you better. If you are comfortable with more volatility in exchange for potential upside when industry revs, platinum earns a look. Supply Stories: Mines, Recycling, and Risk Gold supply is geographically diverse. Mines operate across many countries, and recycling (especially from jewelry) flexes higher when prices rise. Central bank buying adds another layer of demand that can support prices during uncertainty. Platinum supply is more concentrated, with South Africa as the primary source and Russia as a key contributor. Power constraints, labor disputes, and infrastructure shocks can quickly tighten supply. Recycling from catalytic converters also matters and can swing with scrap flows and theft-prevention regulations. Concentrated supply plus cyclical demand makes platinum more sensitive to shocks—both bullish and bearish. Gold: broad mine base + steady recycling + official-sector demand. Platinum: concentrated mines + catalytic-converter recycling + higher sensitivity to industry. Macro Forces: Interest Rates, Currencies, and Growth Real Rates and the Dollar Gold’s relationship with real (inflation-adjusted) interest rates is pivotal. Rising real rates can pressure gold as the opportunity cost of holding a non-yielding asset increases. A strong US dollar also tends to weigh on gold in the short run. Conversely, falling real rates and a weaker dollar often support gold prices. Global Growth and Energy Trends Platinum responds more directly to global manufacturing and energy policy. Stronger auto builds, broader industrial expansion, and growth in fuel-cell and hydrogen projects can lift platinum. Unexpected slowdowns, efficiency gains that reduce catalyst loadings, or substitution toward other metals can cap rallies. Bull and Bear Cases You Should Know Gold: Bull Case Persistent policy uncertainty, geopolitical risk, and central bank buying. Sticky inflation or declining real rates boosting the appeal of non-yielding assets. Portfolio diversification and a long history as a crisis hedge. Gold: Bear Case Disinflation with high real rates, increasing the cost of holding gold. Resurgent risk appetite and strong equity markets diverting flows. Periods of calm that reduce the perceived need for hedges. Platinum: Bull Case Reaccelerating manufacturing and auto production, including hybrid fleets. Fuel-cell and green-hydrogen growth increasing platinum catalyst demand. Supply constraints or disruptions in key producing regions. Substitution from palladium back to platinum in autocatalysts. Platinum: Bear Case Global slowdowns that reduce industrial orders and cap catalyst demand. Efficiency gains and technology shifts that require less PGM loading. Robust recycling flows that add secondary supply during rallies. Practical Buying Notes: Coins, Bars, Premiums, and Storage For most investors, execution details matter as much as the headline price. Both gold and platinum are available as coins and bars, and both trade at a premium above spot to reflect minting costs, logistics, and dealer overhead. Because gold’s market is deeper, its premiums and bid-ask spreads are often tighter. Platinum products can carry wider spreads due to thinner liquidity. Confirm purity and recognized products: many modern gold coins are .9999, while platinum coins are commonly .9995. Check dealer buyback terms in writing and compare bid-ask spreads before you buy. Favor widely recognized one-ounce coins for easier resale; obscure sizes may be slower to liquidate. Decide on storage in advance—home safe, bank box, or professional vault—and insure appropriately. Understand local tax rules and any reporting obligations; stay compliant. If you are new to precious metals, start with small, well-known products from reputable dealers, verify shipping and insurance, and add gradually. The goal is to remove surprises and keep your process boring—boring is good for wealth preservation. How to Read Headlines Without Getting Spun Bold calls appear every week: “Platinum to moon!” or “Gold to crash!” Before reacting, run a simple test: What is the demand driver—monetary fear (gold) or industrial acceleration (platinum)? Is the claim supported by broad, credible data or just anecdotes? How would supply respond if the story proves true—does recycling ramp, do mines increase output? When platinum trades below gold, it does not mean platinum “failed.” It usually means the monetary bid for gold is strong, the industrial bid for platinum is soft, or both. When cycles turn, relationships can flip. Your edge is discipline—understand the mechanism, then act methodically. Quick FAQ: Platinum vs Gold Why does gold often cost more than platinum? Gold carries a global monetary premium. Central banks own it, investors hedge with it, and it is highly liquid, which keeps demand broad and persistent. Can platinum trade above gold again? Yes. If industrial demand tightens supply—especially in autos, catalysts, and hydrogen—platinum can outrun gold for stretches. Market leadership follows the economic story. Which is better for long-term stability? No metal is a guarantee, but gold’s deep liquidity and broad demand base often make it steadier. Platinum may offer more cyclic upside when industry booms. How should a conservative buyer start? Consider recognized, liquid products; compare spreads; confirm buyback terms; and choose secure storage. Adding gradually helps you learn the market without pressure. The Straight Answer: What to Remember So, is platinum more expensive than gold? Sometimes—but in recent years gold has frequently led because its role as a monetary safe haven keeps demand wide and constant, while platinum’s price tends to track the health of industry. If factories roar and clean-energy tech accelerates, platinum can catch a bid. If policy risks rise and currencies wobble, gold typically takes the crown. Keep it simple: know the drivers, respect liquidity and spreads, and buy products you can easily sell. You are not choosing a “winner” for all time; you are choosing tools for different jobs. Use gold when you want global, time-tested stability. Use platinum when you want targeted exposure to industrial cycles and emerging energy trends. With that framework, you can navigate precious-metals headlines with a steady hand and make decisions that fit your plan—not the news cycle. The post Is platinum more expensive than gold? first appeared on American Bullion.

Alaska aims to move priority mining and oil-and-gas proposals faster through permitting after signing a new agreement with federal regulators. The FAST-41 cooperation with Alaska, the first state to do so, could shave a quarter of environmental permitting time, down to 2.7 years from 3.6 years as the process coordinates schedules and seeks early conflict resolution, greater predictability and transparency to federal reviews of major projects. The memorandum of understanding (MoU) with the United States Permitting Improvement Steering Council gives the state “a seat at the table,” Governor Mike Dunleavy said during a Wednesday news conference in Anchorage.. “This MoU is the beginning of something the whole country could use,” Dunleavy said. “Ask us in a few months where it’s at. It’s not just for show.” Graphite One’s (TSXV: GPH) open pit, Teck Resources’ (TSX: TECK.A, TECK.B; NYSE: TECK) Red Dog zinc mine expansion, and Hecla Mining’s (NYSE: HL) Greens Creek silver–gold–zinc mine near Juneau are projects that are due to benefit from the new arrangement, according to Emily Domenech, executive director of the Permitting Council. “We’re signing a first-of-its-kind MOU so we can partner from the ground up on federal projects,” she said during the briefing. “We want to triple the number of Alaska projects on our dashboard by identifying them early – with an emphasis on mining.” ‘Maintains standards’ FAST‑41 doesn’t change substantive environmental standards, officials said. The MoU connects Alaska’s Office of Project Management and Permitting with the Permitting Council. It shares public timelines for federal environmental reviews. It is also to hold agencies accountable for any schedule changes. The Council can also post so‑called “transparency projects” that aren’t formally covered by FAST‑41 but still receive public, trackable schedules. For miners, that means clearer timelines and earlier federal–state coordination on scoping, consultation and key authorizations. In the queue Federal authorizations for the Teck’s Aqqaluk Pit expansion are done. So, Red Dog-related work will move ahead first among the mining projects on the Dashboard. Graphite One’s project north of Nome, with an on‑site concentrator, could be through the process by late next year, according to the the FAST‑process coordinating federal environmental review and permitting. A construction decision is to follow. Alaska LNG, the state‑backed gas export project, has an updated FAST‑41 timetable posted this year following the project’s re‑initiation of federal reviews. Also on the short list or dashboard is the NANA Regional Broadband Network project to build a 1,167-km fibre route serving Alaska Native villages in the (where is that?) region. While not a mine, its inclusion shows how the state–federal process applies across sectors. What’s next The state and council teams are to identify more Alaska projects for FAST‑41 coverage. They will also post coordinated timetables on the dashboard. For the mining sector, that likely means more attention on critical‑minerals files where early federal–state alignment can reduce re‑work and slippage later in the process. “You know how you bind a giant – one little thread at a time,” Alaska House Representative Nick Begich said on the call. “When the federal government comes to the table asking, ‘How do we get to yes?’ – that’s huge for Alaska.”

The Sprott Physical Uranium Trust’s (TSX: U.U for USD; U.UN for CAD) holdings now total about 68.6 million lb. of uranium after it bought 50,000 lb. of the energy metal this week in another bet on the resurgence of nuclear energy. That buy brings its total third quarter purchases to 1.2 million lb. of uranium oxide (U3O8), its highest level since last year’s second quarter, BMO Capital Markets analysts Helen Amos and George Heppel said in a note on Thursday. Its holdings amount to a market value of about $5.12 billion, according to Sprott. The increasing holdings of the Toronto-based trust come as the spot uranium price continues to rise, gaining about 18% to $74.70 per lb. U3O8 from its slump of $63.45 per lb. U3O8 in March. With uranium demand poised to rise, driven by reactor life extensions, new builds, and energy-hungry data centres, Sprott’s move underscores uranium’s growing role in the clean energy transition. Political instability in Niger threatens volumes from Orano’s SOMAIR mine while long lead times to bring new mines online mean uranium supply is seen as tightening in the longer term. $200M June buy And in June, the Physical Uranium Trust’s partner company Sprott Asset Management said it planned to buy $200.1 million worth of physical uranium for its dedicated fund. Canaccord Genuity would acquire 11.6 million units of the Sprott Physical Uranium Trust at a price of $17.25 per unit. The offering was expected to close around June 20. The spot price increase has meanwhile, helped miners maintain steady output, with the world’s top producer Kazatomprom (LSE: KAP) posting a 13% year-on-year rise in production in Kazakhstan for the first half of 2025 to 12,242 tonnes, it said on Aug. 1. Canadian uranium major Cameco (TSX: CCO; NYSE: CCJ) expects to produce 18 million lb. U3O8 this year from its mines in Saskatchewan, even though year-on-year output was down 28% in the first half, it said in its second quarter results in July. Demand spurs production These production trends occur as demand for nuclear energy continues to rise as tech companies prepare to build more power-hungry data centres for AI applications. The United States government is also working to accelerate nuclear’s rise through various supports and fast-tracking uranium projects in the country’s Southwest. Worldwide demand for uranium is projected to triple by 2040, showing the urgent need to develop mines. Uranium demand already outstrips production by 50 million to 60 million lb. a year, according to World Nuclear Association data. Sprott Uranium Trust shares were down 0.2% to $17.43 apiece on Thursday morning, for a market capitalization of $6.72 billion. The stock has traded in a 12-month range of $12.55 to $20.51.

US Indices are rising but in an unassertive fashion, and the same has happened throughout the whole week. The dovish interpretation from last Friday's Powell speech definitely helped to sustain bullish momentum, with the S&P 500 timidly breaking new highs in yesterday's session and the Dow Jones breaking through its previous record (Current all-time highs at 45,757). However, it seems that Markets are awaiting for the most influential piece of data, releasing on the 5th of September – The infamous Non-Farm Payrolls report. This week's undecisive trading is typical of a last week of August due to many participants being off their screens and not much key data to keep the key players from doing so. Yesterday post-close Nvidia release sent mixed signs, but it seems that technicals still corroborate potential upside – you can check our latest analysis on the stock right here. NVDA is still down around 0.90% on the session, with what seems to be profit-taking flows – Some dip-buying is currently ongoing Some key technical patterns are still coming into play, which should influence trading ahead of tomorrow's Core PCE release. Read More: USDCAD falls despite a US GDP data beat – Technical OutlookA broad look on US Equities US Equities Heatmap, August 28, 2025 – Source: Finviz US Indices technical analysis – Dow Jones, S&P 500 and Nasdaq 4H chartsDow Jones- Double top coming in play? Dow Jones 4H Chart, August 28, 2025 – Source: TradingView Our previous analysis of US Indices had mentioned a break-retest technical pattern which tends to bring continued upside and more sustainability to trends. However, the landmark Dow is down about 0.20% in today's session after marking an intermediate double top. Inflows are going towards other sectors, but the picture is very mixed, leaving the most-logical reason behind the selling being normal profit-taking – The price action is still holding an upward channel, with the previous selling happening at its upper bound. Indeed, a lack of activity may prevent pushing for further highs, particularly ahead of next week's NFP release – Watch for reactions at the 4H 50-period MA at 45,170 Levels of interest for Dow Jones Trading: Resistance Levels Current All-time high 45,757ATH Resistance Zone 45,700 (+/- 150 pts)1.618 Fibonacci-Extension for potential ATH resistance 46,260Support Levels Previous ATH resistance zone, now pivot 45,000 (+/- 150 points)4H 50-period MA 45,17544,400 to 44,500 Main SupportS&P 500 – new all-time highs, but lacking conviction S&P 500 4H Chart, August 28, 2025 – Source: TradingView New all-time highs just got reached for the S&P 500, with the record standing at 6,496 (CFD, actual index ATH at 6,495) However, the past week of price action is full of wicks, pointing to some lack of conviction around the highs. Nonetheless, the Index is holding very close to its highs, therefore price action is still far from bearish. The S&P 500 is still out of its higher timeframe upward channel, but bears are still inactive for now, leaving the current trend into play. Price action may stay undecisive until next week! Levels of interest for S&P 500 Trading: Resistance Levels session highs 6,496 All-time highsAll-time high resistance zone 6,470 to 6,5006,520 to 6,530 Potential ATH resistance (from Fibonacci extension)Support Levels End-July Top now Pivot 6,420 to 6,4306,400 psychological Supportpre-Powell mini support 6,3506,210 to 6,235 Main Support (NFP Lows)Nasdaq – bringing back some bullish flows Nasdaq 4H Chart, August 28, 2025 – Source: TradingView After unconvincing price action throughout the whole week, Nvidia earnings seem to have brough some buying flows to the Tech-focused index. Look at reactions as the current buying is stepping into the pre-NFP highs resistance zone, levels just below. Levels to watch for Nasdaq trading: Resistance Levels Current All-time Highs 23,98623,500 Support turned resistance23,732 NFP highs acting as immediate resistanceSupport Levels Weekly lows 23,30023,000 Key Support22,700 support at NFP lowsEarly 2025 ATH at 22,229 Safe Trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Chainlink (LINK) has experienced a significant surge, climbing back above the $25 mark on Thursday, thanks to a new partnership with the US Department of Commerce. This collaboration has propelled the LINK price to a notable 6% gain, allowing it to outperform the largest cryptocurrencies in the market. Chainlink Unveils Data Feeds For Key US Economic Metrics The decentralized oracle network announced its initiative to bring critical US government macroeconomic data on-chain, sourcing information from the Bureau of Economic Analysis (BEA). The new Chainlink Data Feeds will deliver essential economic indicators, such as Real Gross Domestic Product (GDP), the Personal Consumption Expenditures (PCE) Price Index, and Real Final Sales to Private Domestic Purchasers. This data will be updated on a monthly or quarterly basis and is initially accessible across ten blockchain networks, including Arbitrum (ARB), Avalanche (AVAX), Ethereum (ETH), and Optimism (OP), with support for additional chains expected as demand grows. During the announcement, Chainlink also revealed its proactive engagement with US government officials and regulators, including meetings with the US Securities and Exchange Commission (SEC). Will LINK Price Rally Push It Past $30? The implications of this partnership are substantial, potentially enhancing the visibility and adoption of Chainlink and increasing demand for its services. This development comes on the heels of an impressive year for LINK, which has recorded a 120% increase in value year-to-date. Looking ahead, LINK is positioning itself for a potential move toward the $30 mark. However, it faces a crucial resistance level at $27, which has proven to be a significant barrier over the past eight months. The token has struggled to surpass this threshold since December of last year. Should LINK break through this resistance in the near future, the next target would be set at $30.80, where the next resistance level is expected to act. Interestingly, prediction market Kalshi anticipates that the LINK price could reach a yearly high of $40, fueled by the ongoing developments surrounding the Chainlink network, which have consistently bolstered bullish sentiment among investors. With the LINK price trading at $25.68, the cryptocurrency still trades 51% below its all-time high record of $52.70. Featured image from DALL-E, chart from TradingView.com

American Lithium (TSXV: LI) surged by nearly 20% on Thursday after winning a legal battle in Peru that maintained its ownership of 32 uranium concessions that have been in dispute for years. A Peruvian judiciary court announced earlier that the petitions filed by the Ministry of Energy and Mines in December 2023 challenging the disputed concessions had been unanimously rejected, confirming their title of ownership to Macusani Yellowcake, the company’s Peruvian subsidiary. According to the ruling, the Supreme Court rejected hearing the petitions filed by Peru’s INGEMMET, its scientific and management agency that is also part of the mining ministry MINEM, on the grounds of being “unfair, inadmissible and unacceptable.” From the outset, the company maintained that there were no grounds for the Supreme Court to assume jurisdiction, a position that was consistently upheld, American Lithium stated in a press release. The decision, which its executive chairman Andrew Bowering calls a “significant development”, ends what it considers to be an “unnecessary legal process” initiated seven years ago by INGEMMET. “It is important to re-emphasize that at no point did the company lose title to the 32 concessions under dispute. We can now focus on advancing these high-quality projects without this uncertainty,” Bowering said in the release. America Lithium rose by double digits on the legal win, up 17.5% to C$0.47 a share by 11 a.m. in Toronto. Earlier, it hit a five-month high of C$0.48 apiece. The company has a market capitalization of C$119 million ($86.5m). Large uranium project The disputed concessions form part of American Lithium’s Macusani project, which the Vancouver-based miner considers to be one of the world’s largest and lowest-cost uranium developments. A preliminary economic assessment outlined a 10-year mine at Macusani producing approximately 70 million lb. of uranium oxide (U₃O₈) from five near-surface deposits. Its post-tax net present value (at 8% discount) is estimated at $603 million, with an internal rate of return of 40.6% and 1.8-year payback. The initial capital cost is $300 million. The PEA is based on a total defined resource of 95.2 million indicated tonnes grading 248 parts per million U₃O₈, containing 51.9 million lb. U₃O₈, and 130 million inferred tonnes grading 251 ppm for 72.1 million lb. U₃O₈. American Lithium acquired Macusani as part of its merger with Plateau Energy Metals in 2021. The latter had been working on the project since 2007 and produced the PEA report in late 2018. Following the merger, the company intended to spin out its uranium assets, but that plan was put on hold due to market conditions.

Ethereum has once again overtaken Bitcoin in the competition for institutional attention, with Spot Ethereum ETFs recording larger inflows than their Bitcoin counterparts in the past few days. This trend might be building up another chapter in the growing debate over whether Ethereum is on track to start outperforming Bitcoin in terms of price action, which might lead to another altcoin season this cycle. Ethereum ETF Inflows Surpass Bitcoin Once Again Data from ETF trackers show that Ethereum funds have been posting stronger inflows than Bitcoin ETFs across several sessions in recent days. According to data from Farside Investors, US-based Spot Ethereum ETFs captured around $307.2 million in net inflows on August 27, bringing the total cummulative netflow to $13.64 billion. The bulk of these inflows came from BlackRock’s iShares Ethereum Trust (ETHA), which attracted $262.6 million on the day, while Fidelity’s FETH added $20.5 million. By contrast, Spot Bitcoin ETFs based in the US managed to attract just $81.4 million in net inflows. The ETF inflows in the past 24 hours are not an isolated occurrence. Ethereum has now outpaced Bitcoin inflows across multiple consecutive trading days to give a glimpse into institutional sentiment toward the second-largest cryptocurrency. For example, August 26 was highlighted by a $455 million inflow into Spot Ethereum ETFs, compared to $88.1 million into Spot Bitcoin ETFs. The previous day (August 25) saw a similar pattern, with $443.9 million directed into Ethereum funds versus $219.1 million into Bitcoin. The surge in Ethereum inflows can be traced back to the middle of July, when Spot Ethereum ETFs first surpassed Bitcoin’s daily inflows. During that period, ETH funds brought in $603 million on July 17, compared with Bitcoin’s $522 million, to establish a precedent that appears to be repeating. Will Ethereum Outperform Bitcoin This Cycle? The recent trend of Ethereum ETFs outperforming their Spot Bitcoin ETFs is sure to resonate well with many Ethereum proponents, who are awaiting a full-blown altcoin season led by the leading altcoin. However, the important question is whether Ethereum’s recent momentum can translate into long-term outperformance of Bitcoin. Related Reading: Machine Learning Algorithm Predicts Ethereum Price Will Cross $9,000, Here’s When Alongside the divergence in ETF flows, the price action of Ethereum and Bitcoin has also highlighted their contrasting trajectories in recent days. Ethereum has been trading with stronger upside pressure and less downside pressure, which allowed it to reach a new all-time high of $4,946 on August 24. At the time of writing, Ethereum is trading at $4,616 after testing an intraday high near $4,658 and a session low of $4,473. Bitcoin, on the other hand, is steady but showing less upward momentum. At the time of writing, Bitcoin is trading at $113,100 after trading between roughly $110,465 and $113,332 on the day, which keeps its price movement tilted more towards the downside.

The euro has posted gains on Thursday. In the North America session, EUR/USD is trading at 1.1670, up 0.27% on the day. US GDP revised upwardsUS GDP (second-estimate) surprised on the upside, with a gain of 3.3%. This was revised higher from 3.0% in the preliminary estimate and was an impressive turnaround from the 0.5% decline in the first quarter. After the release of the first-estimate GDP, President Trump called on Federal Reserve Chair Powell to lower interest rates, and it wouldn't be surprising if Trump again uses the strong GDP report to attack Powell. The US labor market has been softening and the July nonfarm payrolls fell to just 73 thousand. Still, unemployment claims have been steady and today's release showed that claims dropped to 229 thousand, down from a revised 234 thousand last week and just below the market estimate of 230 thousand. German CPI expected to flatline Germany releases CPI report on Friday, with a market estimate of 0% m/m for August. This would mark the second flat reading in three months, an indication that inflation is under control. Annually, CPI is expected to nudge up to 2.1% from 2.0%. Eurozone inflation will be released next week. Headline CPI is currently at 2.0% and core CPI is at 2.3%, with little change expected in the August release. The European Central Bank took a pause in July after seven straight rate cuts. The ECB meets on September 11 and with inflation largely contained and around the ECB's 2% target, the Bank is not feeling pressure to continue lowering rates. EUR/USD Technical EUR/USD has pushed above resistance above 1.1646 and is testing resistance at 1.1667. Above, there is resistance at 1.1690There is support at 1.1623 and 1.1602 EURUSD 4-Hour Chart, August 28, 2025 Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

GDP data for Q2 just got released – A 3.3% annualized beat vs a 3.1 expectations could have been expected to lead to a USD rally, but the reverse happened instead. The Greenback is currently the second worst performer of all majors, just ahead of the CHF. You can access our latest piece on the data release right here to know more on the details on the report. Tomorrow will also await the GDP data release for Canada which should add to some volatility in the pair. USDCAD is now back into its July range which spanned between 1.3550 to 1.38 – Further correction would be needed to fully confirm the re-entry – Discover which ones in our technical analysis just below. In terms of tariffs, the "duty-free shipping" de minimis exemption of Canadian goods to the US expires on Friday which is creating fears of higher costs for Canadians and Americans. Tariff talks were in a bit of a limbo but with the deadline approaching, Canada PM Mark Carney decided to drop many retaliatory tariffs against the US in an attempt to reduce the uncertainty towards animous relations between the two neighbors. Read More: Markets Today: Markets Digest NVIDIA Earnings, FTSE Eyes Head and Shoulder Breakout. Euro Area Consumer Confidence and US GDP Data AheadNasdaq 100 Technical: Bullish trend intact despite Nvidia -3% (after-hours) sell-offUSDCAD multi-timeframe technical analysisUSDCAD Daily Chart USDCAD Daily Chart, August 28, 2025 – Source: TradingView The pair had been holding just above the 1.38 handle (1.38130) for a few moments but ironically, right after the release of our mid-week NA Markets recap mentioning the support level, US Dollar selling flows broke support. In the meantime, the today's selling is entering the 1.3750 Pivot Zone (+/- 150 pips) and some small mean-reversion is happening right ahead of the 50-Day MA (1.3735). Daily momentum is also breaching the neutral RSI level towards the bearish side, adding to the odds of a full range re-entry of the pair, after prolonged CAD weakness. We will see if tomorrow's Canada GDP data corroborates with the current technicals. USDCAD 4H Chart USDCAD 4H Chart, August 28, 2025 – Source: TradingView After previously holding around the 1.38130 level held buy USDCAD bulls, their Buyers are stepping in after strong selling flows at the pivot zone, therefore the 1.38 resistance zone should come into play soon. The resistance zone may also act in confluence with the middle of the current downward channel – bearish reactions here will be key to re-enter the range. Failure to do so should lead to a retest of the 1.3850 Main resistance zone. Levels to place on your USDCAD charts: Resistance Levels: 1.38 immediate resistance Zone (+/- 150 pips)1.3850 Main resistance1.3925 Aug 22 highs last Friday highsMay Highs 1.40185Support Levels: 4H MA 200 and 50-Day MA between 1.3730 and 1.3760Key longer-term pivot Zone 1.3750Main Support Zone 1.3675 to 1.3686USDCAD 1H Chart USDCAD 1H Chart, August 28, 2025 – Source: TradingView The immediate action is fairly balanced, with the 1H RSI rebounding from oversold – However, the current 1H candle is seeing immediate rejection as markets are approaching the low of the immediate resistance zone. A continuation of the downmove should take the pair towards the lows of the pivot zone between 1.37 to 1.3725. Price action may consolidate a bit before further movement due to low RSI levels – Keep those in check. For immediate breakout levels, look at the High of current 1H Candle 1.3785 for continued upside, while for a breakdown, look at the Daily lows at 1.3753. Safe Trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

According to Forbes, XRP’s next five years will hinge on whether it can turn legal clarity into real payment use and steady liquidity. The token is trading at $3, up 4% in the last seven days. It has a market cap of about $176 billion. That puts XRP back among the top three crypto assets by capitalization. Regulatory Clarity Gives XRP A Running Start In July 2023 a US court found that programmatic sales of XRP on public exchanges were not securities, while some institutional sales remained in question. The matter moved again in August 2025 when both the SEC and Ripple dismissed appeals, preserving that split ruling. That step removed a long-standing legal overhang that had discouraged many institutional players from moving forward in the US. Market Snapshot And On-Chain Tools Reports show recent price peaks vary by source — $3.84 on some trackers and $3.65 on others — but liquidity metrics have improved. The XRP Ledger settles transactions in three to five seconds and typically charges under $0.01 in fees. In March 2024 the ledger added an on-chain automated market maker via the XLS-30 amendment. Payments And Remittances Could Drive Demand Global remittances to low- and middle-income countries reached over $680 billion in 2024, with average fees near 6%, while the UN target is 3%, Forbes said. Ripple already runs production corridors with partners such as SBI Remit in Japan and Onafriq in Africa, connecting payments to the Philippines, Vietnam, Indonesia and 27 African countries. If treasurers and regulators in those corridors accept crypto rails, XRP could win steady, utility-driven flows rather than pure speculation. Products And New Channels For Investors Ripple launched RLUSD, a dollar-backed stablecoin, in 2025 with reserves custodied at BNY Mellon. Multiple issuers have filed S-1 and 19b-4 forms for US spot XRP products. Those filings could create a fresh demand channel if approvals follow. According to Finder’s expert panel in July 2025, the average XRP price is expected to be $2.80 by the end of 2025 and $5.25 by 2030 — projections that depend on adoption, liquidity, and market-access steps such as ETFs. Where XRP Could Stand In Five Years According to Forbes, if corridor volume shifts from fiat and stablecoins into XRP, and if custody and ETF channels open, demand could grow in a sustained way. In that scenario, price upside would be supported by both real payment flows and passive investment. If those pieces do not align — if stablecoins dominate corridors, if CBDCs gain traction, or if execution issues persist — XRP may stay widely traded but see limited real-world settlement use. Featured image from Token Metrics, chart from TradingView

The higher-timeframe momentum gauges for Dogecoin are quietly resetting, and two widely followed chartists say the setup that preceded DOGE’s biggest advances is close to reappearing. In a new monthly chart, Kevin (@Kev_Capital_TA) stacks three market cycles and highlights a repeating structure: long, descending consolidations that resolve into impulsive breakouts, followed by measured Fibonacci 1.618 extension targets penciled far above the range. One Trigger Could Ignite Dogecoin’s Cycle Surge The present cycle has already cleared its multi-month falling wedge on the 1-month chart and, critically, completed a clean throwback: price pushed through the descending trendline, retested it from above, and turned higher, converting former resistance into support. On Kevin’s canvas, DOGE trades in the ~$0.23 area on the monthly scale, sitting beneath layered horizontal supply bands but above the wedge ceiling that capped it through the consolidation. Momentum is the hinge of Kevin’s thesis. “Anytime we saw Monthly Stoch RSI crosses on #ogecoin outside of the bear market along with an uptrending Monthly RSI ultimately lead to massive rallies to the upside,” he writes. He adds that “the goal is to get the StochRSI to cross the 20 level and show follow through as anything below that level is a sign of weak momentum. Currently crossing to the upside and at the 13 level.” His lower panel draws a rising diagonal on the 1-month RSI—explicitly labeled “Higher Lows on 1M RSI”—to underscore that longer-term momentum troughs have been stepping up even as price coiled inside the wedge. Kevin also reiterates the inter-market backdrop he’s watching: “If BTC can move higher and not putter out on us and we ultimately get ETH into price discovery with a dropping BTC Dominance then like I have said before DOGE’s biggest move of the cycle is likely. Just need a little more time and for BTC and the macro to support the move. That’s the reality not engagement farming hopium.” With the structural breakout and retest in hand, the remaining confirmation on his checklist is mechanical—see the monthly StochRSI reclaim and hold above 20 while the monthly RSI preserves its pattern of higher lows. On targets, Kevin has previously mapped an aggressive trio of Fibonacci extensions above the last cycle’s peak: 1.618 at $3.97, 1.65 at $4.33, and 1.703 at $5.00. In prior cycles on the same template, wedge resolutions were followed by vertical expansion toward comparable 1.618 objectives; these three levels now serve as forward waypoints should trend acceleration resume. Ichimoku Cloud Analysis For DOGE A complementary, mid-cycle lens from Cantonese Cat (@cantonmeow) uses 2-week candles with Ichimoku Cloud to track the transition. “It’s doing more or less what I thought it would do from 2 months ago,” he notes, “where it bounced off the cloud, reclaiming Tenkan (blue line) as support, and is trying to launch itself above the green Ichimoku cloud on the right.” In Ichimoku terms, that sequence—cloud bounce, Tenkan regain, then an attempt to clear the top of the forward green cloud—aligns with a shift from corrective to trending conditions on the 2-week timeframe and dovetails with Kevin’s higher-timeframe momentum trigger. Taken together, the two studies narrow the focus to a clear condition set. Tactically, the 2-week chart is pressing the cloud top after reclaiming the Tenkan as support. And cyclically, the 1-month StochRSI is curling up from ~13 toward the threshold Kevin considers decisive at 20 while the 1-month RSI maintains a series of higher lows. If those momentum thresholds are secured against a supportive majors tape—firmer BTC, ETH in discovery, and declining BTC dominance—the Fibonacci extensions at $3.97, $4.33, and $5.00 could be DOGE’s price targets for this cycle. At press time, DOGE traded at $0.223.

Most Read: EUR/USD Reclaims 1.1600 as DXY Retreats, Key Economic Data Ahead Real gross domestic product (GDP) increased at an annual rate of 3.3 percent (0.8 percent at a quarterly rate) in the second quarter of 2025 (April, May, and June), according to the second estimate released by the U.S. Bureau of Economic Analysis. In the first quarter, real GDP decreased 0.5 percent. Source: US Bureau of Economic Analysis The economy grew in the second quarter, mainly because the country imported fewer goods and services, and people spent more money. However, this growth was limited by businesses investing less and the country exporting less. The initial estimate of economic growth was later corrected to be a bit higher. This correction happened because it was found that businesses invested more and people spent more than first thought, but this was partly canceled out by the government spending less and the country importing more than initially estimated. Compared to the first quarter, the second quarter's growth was a result of a sharp drop in imports and faster consumer spending, which were partly countered by a decrease in investment. A key measure of private-sector activity, which adds up what consumers and businesses spent, grew by 1.9 percent, which was a significant upward correction from the earlier number. Prices for goods and services bought in the country went up by 1.8 percent, which was a slightly smaller increase than first thought. The prices that consumers paid went up by 2.0 percent, also a bit less than first estimated. When you remove volatile food and energy costs, consumer prices went up by 2.5 percent, which was the same as the first estimate. Source: US Bureau of Economic Analysis Market Reaction - US Dollar The US Dollar Index seemed largely unfazed by the data release as it continued its decline once the data was released. The index is now within touching distance of the recent swing low which is a key area of support resting at 97.70. A break and candle close below this support level could open up the door for a retest of the Year-to-date lows around 96.37 and may be worth monitoring. Gold (XAU/USD) Analysis Gold prices continued their rise today as the precious metal peaked back above the $3400/oz level. The previous bullish pennant breakout played out to perfection. The question now will be whether the precious metal can gain acceptance above the $3400/oz before making a run toward the all-time highs. If it does there is a key level in and around the $3430-$3440 with a candle close above this handle seen as clearing a path for a retest of the ATH at $3500/oz. There is a golden cross pattern developing on the four-hour as the 50-day MA eyes across above the 100-day MA. While this is a lagging signal it still shows that momentum may currently be favoring a bullish move. Gold (XAU/USD) Four-Hour Chart, August 27, 2025 Source:TradingView.com Client Sentiment Data - Gold Looking at OANDA client sentiment data and market participants are Long on XAU/USD with 51% of traders net-long. I prefer to take a contrarian view toward crowd sentiment, however the reading of 51% net-long shows the indecision and concern by market participants that Gold can hold above the $3400/oz handle. Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Equinox Gold (TSX, NYSE-A: EQX) has begun processing ore at its Valentine gold mine in Newfoundland and Labrador, with first gold expected next month. “I am pleased to announce that our Valentine gold mine has begun processing ore through its 2.5-million-tonne-per-annum facility,” chief executive officer Darren Hallsaid on Thursday. The Vancouver-based miner expects to ramp-up to nameplate capacity in the second quarter of 2026. At that point, Valentine is projected to produce 175,000 to 200,000 ounces of gold annually for the first 12 years of its 14-year reserve life. When fully operational, Valentine will be the largest gold mine in Atlantic Canada and a major economic driver for Newfoundland and Labrador. It marks the second mine Equinox has brought online, following the start-up of its Greenstone project in Ontario, which entered commercial production in November 2024. Equinox gained control of Valentine through its recent acquisition of Calibre Mining. Valentine hosts proven and probable reserves of 2.7 million ounces grading 1.62 g/t gold. It also contains 1.3 million ounces in measured and indicated resources grading 1.45 g/t, along with an Inferred resource of 1.1 million ounces grading 1.65 g/t. Equinox says the project could anchor a new gold district in central Newfoundland. New blood To support the transition at Greenstone, Equinox is expanding its leadership team. Bryan Wilson will join as vice-president of operations on September 3, bringing more than 37 years of open-pit and underground mining experience. Roger Souckey has been appointed director of external relations, while Daniella Dimitrov will take on the role of executive vice-president of sustainability, people and strategy. Dimitrov, who has more than 25 years of experience in strategy, finance and governance, is expected to strengthen the company’s push to become a top-tier gold producer anchored by long-life Canadian mines. Hall said Equinox is entering “a pivotal phase of growth,” with both Valentine and Greenstone set to drive a sharp increase in production and cash flow in the year ahead.

Markets just received the report for the much-anticipated Core PCE, which came exactly as expected – The month-over-month Core release came at 0.3 % vs 0.3% expectations. All data components are once again exactly as expected, Core PCE is calculated from already released data, so not surprising to get accurate expectations. This brings the y/y total to 2.6% for the headline and 2.9% for the Core. Canada released their own GDP data which came at -0.1%, a miss on the already weak 0.1% m/m expectations. Annualized, the Canadian GDP is at -1.6%! Canada is still awaiting for a proper relaunch of their slowing economy, and the Loonie that was strenghtening these past few days is giving up some of this strength. Canadian PM Carney and US President Trump are however getting back to better ground. Let's see how it plays out for the two North-American neighbors. Spot live reactions to the Dollar Index and USDCAD just below Read More: EURUSD rangebound in the waiting for further news – breakout levelsDollar Index 30m Chart – Rising but the report didn't change much Dollar Index 30m Chart, August 29, 2025 – Source: TradingView The Dollar is rising slowly but will be stepping against the 30m 200-MA around 98.17, still evolving in a range within the 98.00 handle. USDCAD 30m Chart USDCAD 30m Chart, August 29, 2025 – Source: TradingView The Loonie is losing some steam after the data. The pair is still evolving in a downward channel. You can access our latest analysis of the pair right here. Safe trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Bitcoin is trading at a critical level after successfully holding above $110,000 as support, but market sentiment remains on edge. The recent defense of this zone has given bulls a temporary cushion, yet selling pressure is mounting as volatility continues to drive uncertainty. Some analysts warn that further declines may follow if buyers fail to regain momentum, putting Bitcoin’s resilience to the test. Top analyst Axel Adler highlights a key onchain signal that sheds light on the current market structure. According to Adler, Bitcoin’s Normalized Address Activity (NAA) dropped sharply from 60% — the level at which the $124,000 all-time high was formed — down to just 30%. This decline reflects a clear cooling in transactional intensity, with fewer coins moving on-chain. While this signals that short-term supply is weakening and immediate selling pressure has eased, it also raises questions about whether there is enough demand to fuel another rally. The balance between cooling activity and sustained support will be decisive. If Bitcoin holds $110K and demand reemerges, the market could stabilize. But if volatility keeps pressuring buyers, the risk of deeper corrections remains firmly on the table. Bitcoin Long-Term Seller Base Expands According to Adler, while Bitcoin’s short-term supply activity has cooled, long-term dynamics reveal a different story. The annual Normalized Address Activity (NAA) has climbed from 30% — recorded when Bitcoin was trading near $80,000 — to 40% today. This steady increase shows that more holders are willing to realize profits at higher levels, gradually broadening the seller base. For context, the peak of selling activity in this cycle occurred in September 2023, when the annual NAA hit 85% with Bitcoin priced around $37,000. That marked a period of heavy distribution at lower valuations. By contrast, the current phase reflects a more balanced environment, where selling pressure is elevated compared to earlier this year but still far below peak cycle extremes. Adler suggests this positioning indicates Bitcoin has entered a “mid-stage” phase of distribution, where profit-taking grows but the structural trend remains intact. Despite this, price action underscores hesitation. Bitcoin is holding above critical support at $110,000, but has so far failed to reclaim higher supply zones that would confirm bullish continuation. The market now sits at a crossroads, with speculation rising about the next major move. Whether buyers can overcome expanding long-term selling pressure will likely decide if Bitcoin stabilizes for another rally or faces a deeper corrective wave. Bulls Push To Test Key Levels Bitcoin is trading near $112,900 after a series of volatile swings that pushed the price down from recent highs above $123,000. The chart highlights how BTC has struggled to reclaim lost ground, with short-term momentum still capped by resistance levels. After defending the $110,000 zone, buyers are attempting a recovery, but the structure suggests that a more decisive move is needed to shift sentiment. Currently, BTC remains below the 50-day and 100-day moving averages, which hover between $113,000 and $115,000. These levels form the immediate barrier for bulls, and breaking above them would be crucial to altering momentum in favor of an upside push. A successful retest and hold of $115,000 could signal the start of renewed strength, setting the stage for another attempt at the $120,000–$123,000 resistance zone. On the downside, failure to break higher keeps BTC vulnerable. A rejection near current levels could open the door to another retest of $110,000 support, with deeper risks extending toward $108,000. Market sentiment remains cautious, and the next few sessions will likely determine whether Bitcoin can reclaim bullish momentum or remain stuck under pressure. For now, $115,000 stands as the critical line in the sand. Featured image from Dall-E, chart from TradingView

In a unique show of unity, 112 giants of the cryptocurrency world have issued a direct and uncompromising message to the US Senate: protect the people building the future of digital finance, or we will not support your landmark legislation. A coalition of 112 entities – including household names like Ripple, Coinbase, Kraken, and more – demands explicit protections for software developers and non-custodial service providers in the forthcoming crypto market structure bill. Notably, the coalition opposes the potential misapplication of age-old financial regulations to the new realities of blockchain technology. Submitted on 27 August 2025, the letter said, “As much-needed digital asset law develops in the United States, it is critical that legislation recognizes and preserves the historical protections afforded to open-source software development, and ensures that software developers and non-custodial service providers who create, support, and enable access to decentralized networks are not forced into unworkable regulatory categories designed for the traditional, intermediated financial world.” DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 “Absent legislation, the US will continue to cede software development ground due to regulatory uncertainty” According to the coalition, without the mentioned safeguards, the US risks not only stifling innovation but actively pushing its brightest minds and most promising projects to more welcoming shores. “To create an environment in which innovators across America can confidently and safely build financial infrastructure, the final version of market structure legislation must include explicit federal protections for blockchain infrastructure developers and non-custodial service providers,” the coalition said. Keeping in line with US President Donald Trump’s promises to the crypto, the letter pointed out that the President’s Working Group Report on Digital Assets recently stated, “reversing the decline of blockchain development in the United States is central to the goal of making America the crypto capital of the world.” DISCOVER: 20+ Next Crypto to Explode in 2025 Key Takeaways The letter explicitly states that for America to foster an environment where “innovators can confidently and safely build,” the final market structure bill must include federal protections for these developers. The letter builds on the foundation of previous legislative efforts, such as the CLARITY Act, which garnered significant bipartisan support for its pro-innovation stance. The post 112 Crypto Firms Call on US Senate to Protect Developers: Ripple, Coinbase, Kraken Make the List appeared first on 99Bitcoins.

The Japanese yen has edged higher on Thursday. In the European session, USD/JPY is trading at 146.99, down 0.27% on the day. Tokyo core CPI expected to fall to 2.5% Tokyo core CPI, a key gauge of underlying inflation, is expected to continue to decline. The indicator eased to 2.9% in July and the market estimate for August stands at 2.5%, which would mark a five-month low. The Tokyo inflation report comes on the heels of Japan's core CPI release, which declined to 3.1% in July from 3.3% a month earlier. Despite the slowdown, inflation remains well above the Bank of Japan's 2% target. The BoJ has stressed that it is on a path of normalization of monetary policy and plans to raise interest rates. However, the BoJ hasn't hiked rates since January and doesn't appear to be in any rush. One could make the argument that the central bank has been too slow to tighten policy, as headline inflation has been above the 2% target for over three years. Governor Ueda has repeatedly said that the Bank needs to see higher domestic demand and higher wage growth in order to be assured that inflation remains sustainable at around 2%. The BoJ meets next on September 19. US GDP expected to be revised upwards The US releases second-estimate (Preliminary) GDP later today. The first estimate indicated a strong gain of 3.0% in Q2, rebounding from -0.5% in the first quarter. The impressive bounce-back was driven by a sharp drop in imports and stronger consumer spending. The second estimate is expected to show an upward revision of 3.1%. USD/JPY Technical USD/JPY has pushed below support at 147.20 and 146.99. Below, there is support at 146.80The next resistance lines are 147.39 and 147.60 USDJPY 4-Hour Chart, Aug. 28, 2025 Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Bitcoin heads into the final days of August with choppy, two-way trade and a familiar seasonal question hanging over it: will September once again be a drag—or a reset into Q4 strength? As of Wednesday, August 28, BTC hovers near $112,900 after a stop-start month that has bulls and bears circling the same range rather than breaking conviction. Macro expectations, market positioning and Bitcoin’s own statistical quirks now converge in a narrow window before the Federal Reserve’s September policy meeting, making the next few weeks unusually consequential. The Fed’s rate-setting FOMC convenes September 16–17, and futures markets currently price a high probability of a cut, though officials continue to emphasize data-dependence. Bitcoin’s September Seasonality Seasonality is the first prism through which traders are reading the tape. Daan Crypto Trades captured the prevailing mood on X, noting a “choppy August” and pointing to a historical oddity: “During BTC’s history it has never closed both August & September in the green.” He added a pragmatic caveat about why this matters at all: “Whether you believe in seasonality or not, the thing that matters is if a lot of others do. And if enough people do, it can work as a self-fulfilling prophecy.” Independent datasets support the caution around September. CoinGlass-based compilations show that across the past 12 years, September has delivered an average negative return for BTC of roughly 3.8%, making it the worst month on the calendar. By contrast, Q4—and especially October and November—has historically outperformed on average, a profile that helps explain why traders often look to buy late-Q3 weakness. However, there is a silver lining. Across Bitcoin’s history, September has closed in the green on four occasions—most notably in 2015 and 2016, and again in recent years. In 2023, BTC gained 3.9%, followed by a 7.3% rise in 2024. Anthony Pompliano offered a broader framing this week, starting with the simple, if stubborn, statistics: “September is actually the only month of the year that historically is negative.” He attributes the late-summer doldrums in part to investor behavior—“Everyone is on vacation… not in front of their screens”—and in part to unresolved macro questions from traditional finance. “There’s a lot of uncertainty still,” he said, even as “Jerome Powell has come out and said that he’s going to likely cut rates in September.” While markets have swiftly moved to price that outcome after the Jackson Hole speech, Fed officials have been careful to say the decision remains data-driven; major brokerages nonetheless shifted their base cases to a September cut following Powell’s labor-market warnings. Pompliano’s second theme is about the path higher. A straight line from last November’s ~$69,000 to six-figure prices, he argued, would risk a “very big dump on the other side.” Instead, the market “wants… some sort of correction and resetting,” flushing leverage and “setting a foundation of the price.” He sketched a broad consolidation band—“call it $125,00 to maybe $110,000”—before buyers return. That sequencing rhymes with the way many systematic funds and discretionary crypto desks treat September: as a month to reduce risk into thin liquidity, then rebuild as Q4 flows approach. It also resonates with Daan Crypto Trades’ tactical lens: “Probably any larger dip in the next 1–2 weeks is the one to bid for the EOY bounce/rally to new all time highs in my opinion. We will see.” All Eyes On The Fed Macro timing could be the deciding factor. The FOMC’s September 16–17 meeting is now the key waypoint, with rate futures implying an ~85–90% chance of a cut and some odds of a second move by year-end. Chair Powell signaled at Jackson Hole that labor-market risks have risen even as inflation risks linger, a balance that has pushed several Wall Street houses to bring forward their easing timelines. At the same time, senior Fed officials have stressed that every meeting is “live” and contingent on incoming data—an important caveat for risk assets that have already leaned into the dovish narrative. If a cut materializes, the question for BTC will be whether it validates the existing bid or merely meets expectations and fades. This week’s immediate focus will fall on Friday’s release of the Personal Consumption Expenditures (PCE) price index—the Federal Reserve’s preferred gauge of inflation. The July PCE data will be published on August 29, providing policymakers and markets alike with a crucial read on both headline and core consumer price pressures. From there, attention will pivot to the next major cluster of inflation releases landing just days before the September FOMC. On Thursday, September 11, the Bureau of Labor Statistics will publish the Consumer Price Index (CPI) and the Producer Price Index (PPI) for August. These will represent the final inflation checkpoints before the Fed convenes on September 16–17, meaning they could decisively shape the tone of the meeting. At press time, BTC traded at $113,049.

Mineral Resources (ASX: MIN) has plunged to a A$904 million ($588 million) annual loss, reversing a A$125 million ($114 million) profit the year before, as the debt-heavy iron ore and lithium producer struggles to convince investors it has a clear succession plan. The Australian miner stumbled through a bruising year of governance scandals in 2024, capped by a corporate probe into managing director Chris Ellison’s business dealings. While shareholders seemed satisfied when Ellison agreed in November to step down within 12 to 18 months, many are now impatient with the lack of visible progress on finding a successor. In a letter to shareholders, new chairman Malcolm Bundey acknowledged the uncertainty. “The challenges and disappointments of the past year are clear. I acknowledge the negative headlines, regulatory scrutiny and the erosion of confidence. Our response is now driving meaningful change,” Bundey wrote. Shares closed down 1.55% on Thursday at A$36.87 in Sydney, but remain up 6.2% year-to-date, giving MinRes a market value of nearly A$7.3 billion ($4.7 billion). The investigation into Ellison found he had held an interest in Far East Equipment Holdings, a British Virgin Islands company that sold equipment to Crushing Services International before its 2006 acquisition by MinRes. The board also confirmed related-party benefits flowed to Ellison’s associates, including rent payments to entities he held interests in, rent relief for companies tied to his daughter, and indirect financial arrangements involving her. While Ellison disclosed these dealings, directors concluded he failed to appreciate the importance of transparency. Ellison, a New Zealand-born billionaire who left school at 15, has yet to set a firm departure date, and MinRes has given no indication it is actively searching for his replacement. Bundey’s comments suggested Ellison’s exit remains on track, though they left investors waiting for clarity. “I appreciate that shareholders are looking for clarity on succession planning for … Chris Ellison. My focus as chair is on ensuring that Chris’ succession is robust and carefully planned,” he wrote. Lithium price collapse Beyond the leadership question, MinRes has been hit hard by a lithium price collapse that has forced writedowns and tighter cost controls. Prices have fallen 86% from their 2022 peak, though they have edged higher in recent weeks after a major Chinese mine shut down. “We got the lithium price wrong, and our earnings and net debt levels have been greatly impacted,” Ellison conceded. “Our focus of late has been on cost and performance to ensure the business is set up through the cycle.” Signs of recovery may be emerging. UBS Group AG this week lifted its spodumene price forecast by up to 32%, citing expectations of broader supply disruptions in China. It also raised its target for IGO shares by 20%. UBS now sees the lithium market “almost in deficit” by 2026, though it warned that idled capacity could return and unwind gains by 2027.

Google blockchain is here, and it’s looking to dominate the market. In a post on LinkedIn, Rich Widmann, head of Web3 strategy at Google, revealed new details about the Google Cloud Universal Ledger (GCUL). He described GCUL as the culmination of years of internal R&D to compete with other top cryptocurrencies. It is designed to be a credible neutral infrastructure with support for Python-based smart contracts. “Any financial institution can build with GCUL,” Widmann said, noting that while Tether won’t use Circle’s blockchain, Google is positioning itself as the neutral layer that removes those barriers. DISCOVER: Top 20 Crypto to Buy in 2025 Is Google Building a “Planet-Scale” Blockchain? Should You Invest in Alphabet Stock? (GOOGL) The blockchain wars among fintech giants are heating up. Stripe is building Tempo, a payments-centric chain tied to its $1.4 trillion processing rails, while Circle has launched Arc, designed around its USDC stablecoin. Google’s pitch is different: rather than locking adoption to a single corporate ecosystem, GCUL is meant to be shared plumbing—much like Ethereum or Polkadot—and a ledger financial institutions can adopt without being tied to a competitor’s core business. (X) That positioning could be key to adoption, particularly if banks, fintechs, and payment providers are unwilling to rely on rivals’ blockchains. According to Widmann’s post, GCUL aims to be “planet-scale,” supporting billions of users and bank-grade functionality. Stripe’s Tempo: focused on merchant flows. Circle’s Arc: stablecoin-native chain with FX and settlement tools. Google’s GCUL: open infrastructure with Python smart contracts and institutional-grade tokenization. If Google is able to capture even a portion of Web3, that’s $4Tn market that they can play with. Maybe it’s time to load up on Alphabet stock? The timeline also matters. Circle’s Arc is already in the pilot stage, Stripe plans a 2026 rollout, while GCUL is now in integration testing with broader trials in 2026. DISCOVER: 20+ Next Crypto to Explode in 2025 Here’s What Comes Next for GCUL (DeFiLama) Stablecoins remain above $200 billion, underscoring the demand for trusted settlement rails. Layer-1 DeFi activity has grown 35% YoY, even amid broader market volatility. If GCUL can position itself as a neutral base for these flows, it could capture a meaningful share of tokenization and settlement volumes. Google plans to release technical details “in the coming months” as it works toward a full-scale rollout with CME and other partners. The big question is whether institutions will embrace Google’s claim of neutrality or if reliance on a tech giant will simply replace one form of centralization with another. EXPLORE: Tether CEO Paolo Ardoino Hopes For Net Positive From US Elections, Says Bitcoin Strategic Reserve Is A Great Idea: 99Bitcoins Exclusive Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Google blockchain is here, and it’s looking to dominate the market. Rich Widmann, head of Web3 strategy at Google, revealed new details. If Google is able to capture even a portion of Web3, that’s $4T market that they can play with. Maybe it’s time to load up on Alphabet stock? The post Now That Google Blockchain is Here, Should You Invest in Alphabet Stock? appeared first on 99Bitcoins.

In a surprising move, Trump Media and Technology Group Inc. and Crypto.com announced a landmark partnership. The new joint venture will be the ‘first and largest publicly traded CRO treasury company,’ with a value of at least $6.42B. The new company will trade under the ticker MCGA, which stands for ‘Make CRO Great Again.’ As part of the deal, Trump Media will purchase approximately $105M worth of Cronos ($CRO), the native token of the Cronos Chain. In turn, Crypto.com will buy $50M of Trump Media stock. The new company plans to acquire 6.3B tokens right away, which is a huge 19% of the total supply. An affiliate of Yorkville will also support the venture with an additional $5B equity line of credit. This unprecedented collaboration shows that major companies are starting to adopt digital assets as a core component of their financial strategy. It also bodes well for top altcoins (like Best Wallet Token) due to increased attention from retail and institutional investors The Market Reacts: $CRO Skyrockets The announcement sent waves through the market, and Cronos quickly benefited with an impressive 135%, soaring from about $0.16 to a new yearly high of $0.376961. This shows that investors are excited about the partnership and its potential for $CRO’s future. Trump Media’s decision follows a previous announcement where the company declared its intent to buy $2B in Bitcoin. This is the same kind of forward thinking that has given rise to other innovative projects like Best Wallet Token ($BEST), SUBBD ($SUBBD), and Pudgy Penguins ($PENGU), all of which are carving out their own unique niches in this fast-moving space. 1. Unlock Your Web3 Potential with $BEST Step into the future of crypto with the Best Wallet Token ($BEST), the powerful engine behind the acclaimed Best Wallet platform. Best Wallet is a comprehensive Web3 crypto wallet designed to simplify and supercharge your crypto journey. Buy, sell and HODL crypto tokens on 6 major chains (including Ethereum, Bitcoin, and Solana), with future staking features, and market analytics. By holding $BEST, you gain instant access to premium features that give you a real edge. Enjoy reduced transaction fees across multiple blockchains (with plans to expand to over 60), maximizing your savings on every swap and trade. You can also stake your tokens for a 88% APY, which gives you passive rewards on top of potential price increases once the token goes live. But the real magic lies in its exclusive presale aggregator, which grants you early crypto presales before they hit major exchanges. This is your chance to get in on the next big thing, all from one secure, user-friendly, and non-custodial app. To find out more, check out our ‘What is Best Wallet Token ($BEST)?’ guide. Don’t just manage your assets, supercharge them with $BEST, which has raised over $15.2M. Buy yours now for $0.025545. Our Best Wallet price prediction also forecasts a $0.035215 price by year’s end, a 38% increase from current prices. 2. Experience the Creator Revolution with $SUBBD If you’re tired of traditional platforms taking a massive cut from creators, then get ready for a game-changer: SUBBD, powered by the $SUBBD Token. At its core, SUBBD merges advanced AI technology with blockchain tech, creating a decentralized creator economy that puts control back where it belongs, back in the hands of the artists. As the native token, $SUBBD enables direct, peer-to-peer payments that eliminate high third-party fees. But its utility goes far beyond simple transactions. As a holder, you unlock exclusive, token-gated content, behind-the-scenes access, and unique AI tools that empower creators and fans alike. Imagine using AI to generate personalized content or communicate with your favorite influencers in a whole new way. $SUBBD makes it possible. With a growing ecosystem of over 2K creators and a combined audience of 250M followers already on board, the project has a proven concept and is poised for growth. It’s no surprise it made our list of the best altcoins to buy. Join the movement that redefines content creation and helps creators earn what they deserve. Get your $SUBBD for $0.056275 (but hurry, as a price increase is looming) and don’t miss the chance to get 20% staking rewards on a presale that has raised over $1M already. Here’s how to buy SUBBD Token! 3. Waddle into a New World with $PENGU The adorable, kawaii Pudgy Penguins have waddled off the Ethereum blockchain and into a new era with their official token, $PENGU. As the community and meme token for the entire Pudgy Penguins ecosystem, $PENGU offers a fun, vibrant way for millions of fans to get involved. It acts as a gateway to a world that spans digital collectibles, physical toys sold in retail stores like Walmart, and immersive gaming experiences like the upcoming ‘Pudgy Party.’ While the token currently serves as a meme and community asset, the team has outlined ambitious plans for its future utility, including as currency within the ‘Pudgy World’ virtual environment and for governance, giving holders a real say in the project’s direction. With a limited supply and strong community backing, $PENGU is a ticket to a brand that has successfully transcended the crypto space and is becoming a mainstream cultural phenomenon. Don’t miss your chance to join the huddle and be a part of this penguin-powered revolution. You can pick up your $PENGU for around $0.03058 from exchanges like Binance. Big Moves: Time for You To Plot Your Course The groundbreaking partnership between Trump Media and Crypto.com isn’t just a single story, but a clear continuation that major institutions are jumping into the crypto world. As these major players make their move, they pave the way for exciting new projects, like Best Wallet Token ($BEST), SUBBD ($SUBBD), and Pudgy Penguins ($PENGU). Each of these tokens shows a different part of this fast-moving market. With the crypto world changing so fast, opportunities are everywhere, but so are the risks. Remember, this isn’t financial advice, and before you invest in any project, you should do your own research.

Overview: After yesterday's setback in North America, the greenback remains under modest pressure today. It is lower against all the G10 currencies. The dollar also is softer against most emerging market currencies. The dollar was fixed at a new low for the year against the Chinese yuan. The yuan has a five-day advance in tow, the longest rally since last September. Today, the US raises $185 bln in bills and sells $44 bln seven-year notes. The US sees a possible slight upward revision in Q2 GDP (3.1% vs. 3.0%) and weekly jobless claims. Federal Reserve Governor Waller speaks after the markets closed. The large equity markets in the Asia Pacific region were mixed. The rally in mainland shares continues, but Hong Kong and the index of mainland companies that trade there fell. India, which was on holiday yesterday, when the new US tariffs went into effect, saw stocks comes under pressure today. Europe's Stoxx 600 eked out a 0.1% gain yesterday and is straddling unchanged levels today, waiting perhaps for directional cues from the US, where the index futures are also little changed. Benchmark 10-year yields played catch-up today after the rally in the US yesterday. European yields are mostly softer, though the survival of the Dutch government of a confidence vote has seen little reaction. While the French government is still on tenterhooks, the 10-year French yield is down the most in Europe today (~2.5 bp). The 10-year US Treasury yield is a little softer, slightly below 4.23%. Gold is firm around $3400, its best level in almost three weeks, while October WTI is softer in a roughly half-dollar range below $64. USD: After Fed Chair Powell's indication at the end of last week that the risk assessment may be shifting, and the dollar reversed lower to extend this month's pullback after the July bounce, the greenback looked poised to resume the H1 25 decline. Instead, the Dollar Index traded better in the first half of the week. It rose to almost 98.75 yesterday, but North American operators sold into the gains and sent the Dollar Index to a new session low near 98.15. Follow-through selling has seen in slip closer to 98.00 today. Yet it remains within the range set last Friday (~97.55-98.35). We note that the odds of a cut next month remain slightly higher than at the end of last week, and the two-year yield is around seven basis points lower. The 10-year yield is about three basis points softer compared with the end of last week. Today it is likely to see a small uptick in Q2 GDP, helped by an upward revision in consumption. Weekly jobless claims, pending home sales, and the KC Fed's manufacturing survey are due. Of note, eight Fed surveys have been published this month and they are split evenly between improvement and deterioration. Governor Waller, a dovish dissent last month, speaks late today on monetary policy. EURO: The euro fell to three-week lows yesterday, near $1.1575. This approached the (50%) retracement of this month’s gains, found slightly above $1.1565. In North America, it recovered and set new session highs after European markets closed. It reached almost $1.1650 and left a bullish hammer candlestick in its wake. Follow-through buying has been limited to $1.1655 today but given the intraday momentum indicators, a high for the session may not be in place. Meanwhile, the US two-year premium over Germany has tightened. Now, below 170 bp, is the smallest since March. We did not expect the downside correction to this month's gains after Powell spoke, but with another soft US jobs report next Friday, followed by annual benchmark revisions to nonfarm payrolls the following week, and the independence of the Federal Reserve still under attack, we are reluctant to abandon the constructive outlook for the euro. CNY: After approaching the low for the year yesterday, the dollar bounced back against the yuan. The greenback was bid toward CNH7.1655 after recording a low yesterday near CNH7.1455. Follow-through selling today sent the dollar to a new low for the year, slightly below CNH7.13. The PBOC has been setting the dollar's fix lower on a trend basis since April/May. For the second consecutive session, it was set a new low for the year today (CNY7.1063 vs. CNY7.1108 yesterday). Separately, mainland investors sold a record of HK20.4 bln of HK listed stocks today and apparently repatriated the helped lift the CSI 300 by almost 1.8%, while driving down the index of Chinese companies that trade in HK by 1.15%. JPY: The dollar rose to a three-day high near JPY148.20. It was the ninth time this month that it traded north of JPY148, but it was unable to settle above it, which it has done only twice. As the US rates fell 4-5 basis points from intrasession highs, the dollar fell to a new session low near JPY147.30. It has been sold to JPY147 today. The price action looks poor, but the greenback remains in the range set last Friday (~JPY146.60-JPY148.80). The intraday momentum indicators suggest that the lower end of last Friday's range will likely remain intact today. This week's Japanese macro data is concentrated tomorrow. Broadly speaking, the reports look soft. Retail sales may have pulled back after they rose by 0.9% in June (initially1.0%). Industrial output, which jumped 2.1% in June, also likely slowed. The most important data point, however, is the Tokyo CPI. The headline and core rates may have moderated for the third consecutive month. Net-net this month, the swaps market is little changed with 17-18 bp of tightening discounted before the end of the year. At the end of last week, the US 10-year premium over Japan fell to around 263 bp, a three-year low. It is hovering slightly below there now. GBP: Sterling was sold to a three-day low yesterday, almost $1.3415. The pre-weekend low, before Powell spoke was closer to $1.3390. It bounced back in North America and, although it took out Tuesday's high (~$1.3495), and settled above it. Its advance today stalled in front of $1.3520. The odds of another rate cut this year are near 40%, down from 100% that was discounted before the Bank of England met earlier this month. The implied year-end rate in the swaps market has risen by about 12 bp this month, while the 10-year yield is up about 18 bp. In contrast, the implied year-end rate in the US has fallen 22 bp this month, while the 10-year yield has fallen around 14 bp. CAD: The US dollar was sold to a seven-day low yesterday near CAD1.3780. It settled below the 20-day moving average (~CAD1.3810) for the first time in a month. Selling today pushed the greenback to new two-week lows today below CAD1.3770. Nearby support is seen around CAD1.3750 and then CAD1.3720. Canada reports the Q2 current account balance today ahead of tomorrow's Q2 GDP. Canada's current account deficit was as much as 3.6% of GDP in 2010 and has been improving since 2015 and has averaged less than 0.5% of GDP over the past four years. In Canadian dollar terms, it averaged C$3.5 bln a quarter last year and C$4.6 bln in 2023. The merchandise trade balance deteriorated sharply in Q2 (~C$19 bln deficit after an almost C$400 mln deficit in Q1 25). The risk is of a blowout deficit of around C$19.3 bln, according to the median projection in Bloomberg's survey. It would be the largest deficit in at least a decade. A much weaker report could impact expectations for tomorrow's GDP. Bloomberg continues to show two different median forecasts but the difference (-0.5% and -0.7%) may be inconsequential. AUD: The jump in Australia's July CPI (2.8% vs. 1.9% in June) did little to help the Australian dollar, which fell to a three-day low against the greenback (~$0.6465) before recovering smartly in North America. It rose to a new seven-day high near $0.6515. It settled above Tuesday's high to post an outside up day against the dollar. The (50%) retracement of the Aussie's losses since the year's high was recorded in late July (~$0.6625) is about $0.6520 and it has been met today. The next immediate target may be the trendline connecting the July and August highs is found closer to $0.6530. Expectations for the trajectory of Australian monetary policy did not change significantly. The futures market has a little more than a 25 bp cut discounted for the November RBA meeting. The implied year-end rate is virtually unchanged this week, near 3.25% (vs 3.60% current target rate). MXN: Mexico unexpectedly reported a small trade deficit for July, and it added to the pressure on the currency from the firmer greenback and heavier emerging market currencies. Exports rose by 5%, the largest increase since March, to reach a record high. Imports rose a little more than 6% last month, the first increase in three months, and were just shy of last October's record $57.3 bln. Mexico reports July unemployment today (expected to rise to 2.86% from 2.69%) but it tends not to have much impact on the market. The dollar rose above last Friday's high (~MXN18.7760) to approach MXN18.80, and as it found sellers broadly, it returned to the MXN18.65 area, where it consolidated in late dealings. It has slipped to almost MXN18.63 today. Monday's low was near MXN18.5530. The dollar posted similar price action against the Brazilian real. The greenback rose to a three-day high initially and tested the 20-day moving average around. BRL5.4555 before reversing. It was knocking on BRL5.4150 at the close. The year's low was set earlier this month near BRL5.38. Disclaimer