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Highland Copper (TSXV: HI) has received a significant boost for its Copperwood project in Michigan’s Upper Peninsula, with the US Export-Import Bank (EXIM) issuing a non-binding letter of interest for up to $250 million in debt financing. The potential funding would cover a substantial share of the project’s estimated $400 million capital cost, moving one of the United States’ few fully permitted copper developments closer to construction. The proposed support comes under Washington’s Make More in America initiative, aimed at strengthening domestic supply chains for critical minerals, and could also qualify under EXIM’s China and Transformational Exports program. Shares of Highland Copper were up 9% on Tuesday morning, giving the company a market capitalization of C$88.4 million (US$64.3 million). Copperwood is fully permitted and backed by a completed feasibility study. The underground operation is designed with a mine life of more than 10 years, processing about 6,800 tonnes per day. Highland Copper is advancing detailed engineering as it prepares for a construction decision. Copperwood will be mined using the room-and-pillar underground method, with an estimated processing rate of 6,800 tonnes per day. Once in operation, the project will produce a copper concentrate for shipment to smelters, adding new domestic supply at a time when US policymakers are prioritizing secure access to critical minerals. While the Export-Import Bank’s letter indicates strong interest, it is non-binding. A final commitment will depend on a full financing application, due diligence, underwriting, and board approval. The bank has outlined an initial repayment schedule of 11 years. CEO Barry O’Shea said the potential financing highlights Copperwood’s strategic importance for US copper supply and its role in the region’s economy. “Copperwood will provide a reliable domestic source of copper, support Michigan’s economy and operate responsibly, aligned to Michigan’s stringent environmental standards,” he said.

Peter Schiff, the outspoken gold advocate, warned that Bitcoin may be “topping out” as traders await a Federal Reserve decision this week. According to a post on his X account, Schiff said gold and silver have broken out while Bitcoin is showing signs of losing momentum. The comment has drawn attention because it comes just before a key Federal Reserve meeting that many expect to affect risk assets. Market Resistance At $116,000 Bitcoin has been stuck near the $116,000 level and has not been able to push well past that mark, even after recent gains. Based on market reports, BTC logged about a 4% rise over the past week but ran into strong resistance at roughly $116,000, which traders are watching closely. That hesitation is part of why some voices, like Schiff’s, are warning a top could be forming. Fed Timing And The Rate Cut Question The Federal Open Market Committee meets on September 17, and many participants are expecting a rate cut at that meeting. Reports have linked Schiff’s warning to the timing of that move, arguing that a policy shift from the Fed could alter flows into crypto and other risk assets in ways the market does not yet fully price. Traders are parsing both macro signals and on-chain data as they set up for what may be a volatile session. Gold And Silver Rally Schiff contrasted Bitcoin’s flatness with what he called strong moves in gold and silver. In his post he suggested that mining stocks have confirmed the metals’ rally, and then added that Bitcoin, by comparison, looks tired. That blunt comparison is part of his wider message that some investors might want to re-balance into metals if the current pattern persists. How Other Analysts See It Not everyone agrees with the gloomier take. Some commentators point out Bitcoin’s recent weekly gains and highlight large buyers and corporate treasuries continuing to add BTC. Others caution that calling a top is hard and that the market often gives false signals around major policy events. Still, Schiff’s tweet has widened the debate and spurred fresh calls for caution among certain traders. Volume on rallies, whether Bitcoin can close decisively above $116,000, and the Fed’s announcement on September 17 are the near-term triggers to watch. If BTC fails to hold support after the Fed news, some technical traders may step aside or reduce risk exposure. Conversely, a clean break above resistance would weaken the topping argument and could prompt renewed buying. Featured image from Meta, chart from TradingView

Potash is finally getting a seat at the big table with lithium and rare earths. Once ignored, it’s now shaping debates not just in agriculture, but in trade policy and even security strategy. Strip it down to the basics: no potash, no bread, no rice, no corn. Recognizing it as critical is overdue — and it’s also a starting gun. From here on out, the conversation isn’t just about farming. It’s about food security as a pillar of national security. A quiet mineral steps into the spotlight August 2025. The U.S. Geological Survey finally said the quiet part out loud: potash belongs on the list of critical minerals. Farmers didn’t need a memo. They’ve always known potassium chloride is the engine behind food security. Policymakers, though, spent years swooning over lithium, cobalt, and rare earths. Potash was treated like wallpaper. That’s over. What used to be a farm input is now sitting squarely in the national security conversation. From crop input to critical asset Potash isn’t just another line item in fertilizer blends. Along with nitrogen and phosphorus, it makes up the “big three.” It stiffens plant cells, helps crops survive dry spells, increases yields of staples such as corn, soybeans, rice, and wheat and keeps harvests big enough to feed entire nations. Here’s the catch: America imports more than 90% of its potash, mostly from Canada. In calm years, fine. But calm years are rare. The last three have shown how fragile supply chains really are — sanctions, Russian outages, EU tariffs on potash imports. Farmers don’t need to read the headlines. They feel it every planting season. USGS sees consumption climbing from 61 million tonnes of KCl in 2024 to 65 million in 2025. The International Fertilizer Association is more bullish still, and some projections stretch demand to 118 million tonnes by 2050. Brazil imports nearly 90% of its potash, putting it among the world’s biggest buyers. In China, inventories have dropped by more than half a million tonnes, pushing prices higher. And India, which relies entirely on imports, is racing to secure supply beyond Russia. None of this looks like short-term noise. It’s a flashing sign: potash is now a geopolitical lever, not just a farm input. Why food security = national security Food and security aren’t two separate issues. They’re fused together. Take fertilizer out, and you get smaller harvests, higher grocery bills, and political fires no government wants to face. Remember the Arab Spring in 2011? Bread prices went through the roof. Grain and fertilizer shocks were in the mix. The 1970s told the same story. Fertilizer prices tripled and US food prices spiked nearly 20 percent in a single year. People boycotted supermarkets. In poorer countries, shortages hit like a hammer. The Pentagon has been warning about climate-driven food shocks for years Think of potash the way we once thought of oil: a resource that can destabilize whole regions if supply dries up. Russia and Belarus once controlled nearly 40 percent of exports. That concentration is a problem the world can’t ignore. Shifting geopolitical maps Governments are moving. The European Parliament voted in 2025 to crank up tariffs on Russian and Belarusian potash, aiming as high as €430 per tonne of KCl by 2028. In Washington, the U.S. International Development Finance Corporation — normally focused on lithium and rare earths — is even funding feasibility studies for African potash. Not charity. Gabon, in Central Africa, is a prime example. Already a manganese heavyweight, it’s drawing serious fertilizer investment. With Atlantic ports feeding Brazil, Africa, and North America, potash producers may soon hold the kind of strategic weight Persian Gulf oil once did. The economics of resilience In June 2025, Belarus sold potash to India at $349 per tonne KCl — $66 more than the year before. Brazil’s spot hovered near $360 to $365 by mid-year. Those numbers don’t sit quietly on spreadsheets. They roll into higher farm costs, which turn into higher grocery bills. The International Food Policy Research Institute (IFPRI) has said it plainly: volatile fertilizer prices drive food insecurity. The IFPRI emphasizes that fertilizer price spikes and concern about their affordability/availability cast a “shadow on future harvests” and risk keeping food prices high, which in turn threatens food security. When farmers can’t afford inputs, harvests shrink. Nations stretch their reserves to cover costly imports. Donor’s juggle mounting food aid demands with budgets already under strain. Redefining what’s critical Potash showing up on the draft U.S. critical minerals list is more than a technicality. It unlocks money, policy support, and investor confidence. Rare earths made the same jump from industrial footnote to geopolitical chess piece. I believe potash is next. Defining potash as a critical mineral could lead to innovation in the areas of precision agriculture, nutrient recycling, smaller-footprint mining — tools that trim environmental damage while keeping supply steady. Fertilizer systems should be treated like ports or highways: critical infrastructure. By 2050, global food demand could be up 56 percent. That means fertilizer security isn’t optional. It’s survival. Potash now stands shoulder to shoulder with lithium and rare earths. Ignore it and the costs ripple from farms to dinner tables to foreign policy. Strip it down: no potash, no bread, no rice, no corn. Recognizing it as critical was overdue. The bigger challenge is treating food security for what it truly is — national security. About the author: Farhad Abasov is the Chairman and a Director of Millennial Potash, the company advancing the Banio Potash Project in Gabon in Central Africa. He is a veteran mining executive who has built and sold multiple resource companies.

Barrick (NYSE: B) says its Fourmile project in Nevada has the potential to produce as much as 750,000 ounces of gold per year, positioning it as one of the most significant discoveries of the century. According to the company, updated studies released this week confirm that Fourmile combines exceptionally high grades with long mine life and access to existing infrastructure through the Nevada Gold Mines joint venture with Newmont. The latest resource estimate outlines 1.4 million ounces in the measured and indicated category and 6.4 million ounces inferred, with exploration suggesting up to 15 million additional ounces may be delineated. Average grades of 12 to 16 grams per tonne make Fourmile one of the richest large-scale gold deposits in development, Barrick CEO Mark Bristow said. “Fourmile is rapidly competing to be the largest and highest-grade gold discovery this century,” Bristow stated. Barrick expects the mine to operate for more than 25 years, with annual output between 600,000 and 750,000 ounces. Life-of-mine all-in sustaining costs are projected at just $650 to $750 per ounce, well below current industry averages. Development capital is estimated at $1.5–1.7 billion, moderated by Fourmile’s location next to existing mills and infrastructure at Carlin–Cortez. According to the company, the orebody is hosted in a steeply dipping breccia zone that offers favorable geotechnical conditions for large-scale mining. Metallurgical studies indicate that much of the ore will be “single refractory,” allowing for simpler and less costly processing than Nevada’s more complex “double refractory” ores. Barrick is advancing permitting and plans to begin underground development in 2026, alongside an expanded drilling program to convert resources and further expand the deposit. Shares of Barrick were down 0.12% Tuesday morning in New York, giving the company a market capitalization of $49.4 billion.

It seemed yellow metal could hardly surprise us anymore, unless with a sudden explosive rise. Yet gold has more tricks up its sleeve: it's going digital. Usually, that term is used to describe Bitcoin, but the first cryptocurrency has nothing to do with this. Some big market players have begun digitizing physical metal, and this new experience is revealing. Earlier this week, gold dipped slightly, reaching $3,635 per ounce. Market activity remained low as traders acted cautiously ahead of the Fed meeting. On Tuesday, September 16, gold was trading at $3,693 per ounce. According to analysts, the overall fundamental bias stays on the side of gold buyers. On Monday, September 15, December futures on the metal on the Comex exchange hit a historic high—$3,722.40 per ounce. The demand for gold surged significantly, driven by the weakening US dollar and falling yields on US government bonds. Since the beginning of this year, gold has appreciated by nearly 35%, after rising 27% in 2024. This has been largely fueled by purchases by central banks around the world, easing monetary policy, and ongoing geopolitical and economic uncertainty. Weak macroeconomic data out of the US signals cooling in the labor market: job openings are falling, unemployment is rising. All this adds fuel to the fire. Against that backdrop, investor confidence is growing that the Federal Reserve at its upcoming meeting on Wednesday, September 17 will cut interest rates for the first time in nine months. Markets are pricing that in at 100% certainty for a 25 basis-point cut. Experts think the Fed could reduce rates three times by the end of 2025. That scenario puts pressure on US Treasury yields and weakens the greenback, which traditionally boosts gold's appeal. At the same time, geopolitical risks are rising amid tension in the Middle East and political crises in Japan and France. These factors push investors toward "safe havens," especially gold. According to the World Gold Council (WGC), central bank purchases of gold this year may reach last year's record level—1,000 tonnes. In the current environment, major investment banks are revising their forecasts for gold upward. Currency strategists at UBS raised their price target for gold to $3,800 per ounce by the end of 2025, while analysts at Goldman Sachs foresee the metal climbing to $4,000 per ounce in the medium term. Against this background, the dollar remains under pressure, while the Fed prepares to ease monetary policy. As a result, gold has every chance to continue the "bullish" trend. Although a corrective pullback is possible, the overall trend remains upward. Any drop is regarded by market participants as an opportunity to buy at a more advantageous price, considering gold may again reach historic highs above $3,700–$3,800 per ounce. The yellow metal remains at record highs because traders expect a softening in the Fed's monetary policy. The market is pricing in a 0.25 percentage point rate cut, amid signs of labor market weakness in the US. Investors anticipate the first rate reduction since December 2024 at the upcoming meeting. The probability of a 25 bps cut in September is priced at 96.1%, while a 50 bps cut is at only 3.9%. Reduced US Treasury yields and a weakening USD are making gold more attractive to investors. Since the start of 2025, the precious metal has risen almost 40%, exceeding inflation-adjusted records. Digitized gold: push for innovation In early September, the World Gold Council (WGC) launched a pilot project to tokenize gold. This initiative aims to expand OTC trading of gold and its use as collateral in financial markets. When considering the technical and legal aspects of this proposal — which could profoundly reshape the precious metals market — experts have noted several key features: Transparent ownership rights. Investors may directly own bullion bars, which eliminates custodial counterparty risks. Investors claim a defined quantity of gold held by a custodian. This model allows transactions down to thousandths of an ounce. However, one risk is the potential loss of assets in case the custodian becomes insolvent: investors' claims may be liquidated along with those of other unsecured creditors. Nevertheless, tokenized gold (referred to as PGI – Pooled Gold Interests) has a number of advantages: It allows direct fractional investment in physical gold, reducing many drawbacks of existing systems. Banks and investors can trade fractional ownership rights of physical gold held in segregated accounts. Tokenized gold can be transferred via digital registers. Key market participants will be responsible for holding and jointly managing the physical metal. The system's algorithm tracks changes and automatically rebalances assets. The roadmap for PGI includes: In the first phase, several banks and financial institutions will test the technology. The pilot is planned to launch in Q1 2026. Next steps: scaling up — onboarding clients, integrating with financial-market infrastructure, and working with regulators and oversight agencies. The WGC believes that early participants will be able to help establish the foundation, the governance system, and the operating rules for tokenized gold. However, some experts remain skeptical. They believe the project may meet resistance because the key players in the gold market tend to be conservative and extremely cautious. One of the main challenges lies in the legal domain: recognizing PGI automatically as a simplified collateral asset may be difficult in many jurisdictions. A positive factor supporting tokenization is the Gold Bar Integrity (GBI) program, launched by the LBMA together with WGC. This program tracks the full supply chain of gold and creates digital passports for bullion bars. Other supportive trends include: The prolonged weakening of the US dollar and rising macroeconomic uncertainty. Many central banks are reducing exposure to US Treasuries and increasing gold purchases. A large inflow into gold ETFs, with the total market capitalization of the precious metals market exceeding $400 billion. S&P 500 hits record high: it breaks through 6,600 According to analysts, S&P 500 futures remained largely unchanged after the US Senate confirmed Stephen Miran as a new member of the Federal Reserve Board of Governors. The confirmation came just one day before the Fed's policy meeting, where interest rate cuts are expected to be discussed. Meanwhile, on Monday evening, September 15, Wall Street celebrated a major rally: both the S&P 500 and Nasdaq Composite reached new all-time highs. Notably, the S&P 500 surpassed the 6,600-point mark for the first time in history — a historic milestone. The rally was driven by a strong performance from several major tech stocks, including Alphabet, which rose by over 4%, and Tesla, which gained more than 3%. As for the Japanese Nikkei 225 index, it also broke new ground, surpassing 45,000 points for the first time ever. This surge contributed to a broader rally in the Asia-Pacific markets (APAC). Investors responded positively to recent U.S.–China negotiations, which were perceived as relatively constructive. The main focus for global markets remains the upcoming Federal Reserve rate decision, scheduled for Wednesday, September 17. According to Fed fund futures, the probability of a 25-basis-point rate cut stands at a full 100% — an extraordinary consensus. Traders are also expected to watch Fed Chair Jerome Powell's press conference closely for any signals regarding the future direction of US monetary policy. The material has been provided by InstaForex Company - www.instaforex.com

Gold prices soar to tap $3700/oz as Fed rate cut bets ramp up. The precious metal continues to benefit from the uncertainty around Fed policy moving forward beyond the September 17 meeting. The expectations for a rate cut and a dovish Fed moving forward has led to US Dollar weakness and falling US Treasury yields which have aided Gold's rise. The US dollar is getting weaker, with its value falling against other major currencies. This is because financial markets are now pricing in around 95% probability that the Federal Reserve will cut interest rates by 0.25% and expect a more dovish outlook moving forward. At the same time, returns on US government bonds are also staying low. This makes assets like gold, which don't pay interest, more attractive to investors because they aren't giving up much in potential earnings by not holding bonds instead The question for market participants right now is how much further can the gold rally go? Fed Policy Holds the Key On Wednesday, the much anticipated Federal Reserve decision will be the main focus for financial markets. It does appear as though a 25bps rate cut has largely been priced in and thus we have seen many analysts talk about the potential of a ‘buy the rumor, sell the fact’ reaction to the rate decision. With that in mind, markets may be more focused on the dot plot and how the Fed sees the rate outlook moving forward. The calls by the Trump administration as well as a weakening labor market has seen markets price in more aggressive rate cuts over the next 12 months. A dovish Fed outlook could fuel the Gold rally and push the precious metal toward the $3800/oz handle. A more hawkish outlook or no changes to the dot plot could see the Gold prices finally drop and pullback toward the $3600/oz handle. A lot rests on the Fed decision and outlook tomorrow. For more on this read Guide to the FOMC statement and September SEP: Key takeaways and what to watch Fed Independence Concerns Linger The Fed meeting is holding its monetary policy meeting at a difficult time. US President Donald Trump is actively trying to influence their decisions, and there are legal challenges against the Fed's leadership which has led to concerns around Fed independence which is also aiding the Gold rally. Leading up to the meeting, President Trump has been pressuring Fed Chair Jerome Powell on social media to make a bigger interest rate cut than what is expected. Trump believes that a more significant cut is overdue and would greatly help the housing market. In a related development, a U.S. appeals court stopped an attempt by President Trump to remove Fed Governor Lisa Cook from her position, ruling that his reasons were not legally sufficient. This means Lisa Cook is expected to participate in Wednesday's important vote. Additionally, Stephen Miran, a key economic advisor to President Trump, was narrowly confirmed by the Senate to join the Federal Reserve Board. Analysts believe that Miran might push for a larger interest rate cut than what most people expect, which keeps the question about how much political influence might affect the Fed's decisions. Other Factors Supporting Gold Prices Gold is receiving an extra boost from heightened global tensions, which are pushing investors toward safe-haven assets. This increase in geopolitical risk is primarily driven by two major developments: an escalation of the conflict between Israel and Hamas, as Israel launched a significant ground offensive in Gaza City on Tuesday, and an intensification of drone and missile strikes by Ukraine on Russian refineries, which is disrupting Russia's energy infrastructure. Economic Calendar For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Technical Analysis - Gold (XAU/USD) From a technical standpoint, Gold broke out of the bull flag pattern on a four-hour timeframe before rallying to its potential target around the $3700/oz handle. We are seeing a pullback since then with the latest four hour candle closing as a hanging man, which hints at further downside. Given the rally this week, we could see a bit of a pullback as some market participants may look to take profit ahead of the FOMC meeting. The period-14 RSI is also in overbought territory. A break back below the 70 level on the RSI usually signals a shift in momentum and could lead to a short-term push lower. However, we have seen similar attempts at a pullback since the backend of last week and each time buyers returned with conviction to print fresh highs. Thus there is a possibility that this could continue heading into the US Fed rate decision. Gold (XAU/USD) Four-Hour Chart, September 16, 2025 Source: TradingView (click to enlarge) 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.

European currencies are having a fantastic year, with the CHF, the Euro, and GBP achieving their best performance since the early 2000s. With US President Trump doing everything he can to devalue the US dollar (tariffs, beefs with other countries, menacing the Fed's Independence, and Jerome Powell), and on the other side of the Atlantic, EU countries allying to boost productivity in the years to come, the conditions for such outperformance are optimal. Regarding basic economics, one thing to watch for Europe and Switzerland could be a too-strong currency, which would impair exports in an already-cooling economy (and crippled with 39% tariffs with the US). In fact, Switzerland has been in deflation since May 2025. While its economy continues to grow slowly, such economic activity is not expected to hold up much given the recent SNB dovishness. In the current state of geopolitics, participants looking for safety have had enough of a yen that loses too much in Carry due to historically low rates and have come back to the Swissie in search of value amid a less-competitive dollar. 2025 Currency Performance, September 16, 2025 – Source: InvestingLive.com This nice graph offered by InvestingLive depicts how strong the geographic trends (mentioned through many of our previous pieces) guide Forex performance. European currencies are leading with the new shift in narrative, followed by APAC (JPY, NZD and AUD) and finally North-American currencies which have struggled quite a lot. Tomorrow should be interesting as traders really are pre-selling the US Dollar in what seems to be rushed-hedges for a dovish FOMC. Any hawkishness or even a more neutral than dovish tone, and/or mentioning of tariff uncertainty should lead to consequent mean-reversion for the USD. More mentions towards labor market weakness and one time tariff price hikes would be confirming the USD down-move. Up about 0.50% as we speak, let's have a look at USDCHF multi-timeframe charts to gain our edge on potential reversal or continuation levels for the pair. Read More:Guide to the FOMC statement and September SEP: Key takeaways and what to watchBreaking News: US August Retail Sales at 5.0% Y/Y vs 3.2% expected, beats consensusUSDCHF multi-timeframe analysis ahead of the FOMCUSDCHF Daily chart USDCHF Daily Chart, September 16, 2026 – Source: TradingView Despite a strong rebound in the USD in July followed by a monthly consolidation in August, the selling in CHFUSD has started to accelerate since the September NFP release, breaching 0.80 psychological level. The first time the level was breached in 2025 was in mid-June, when Powell testified. Early July consequently saw a huge reversal higher in the pair. The breakdown has happened on a few strong bear bars and bears should soon face the 2025 0.7875 Lows support, with prices entering that region. Daily RSI still has place for movement and is not showing signs of upward tilt – However, one cannot forget that things may change in a flash in tomorrow's FOMC announcement. USDCHF 4H Chart USDCHF 4H Chart, September 16, 2026 – Source: TradingView The ongoing price action is a solid tight bear channel, with traders rushing to exit and hedge their positions before tomorrow's huge trading Session. Reactions will be interesting as this morning saw another rejection of the 50-period MA at the conjunction of the 2025 downward trendline, which led a huge descent in prices. USDCHF is now trading around the middle of a freshly formed channel (with the 2025 downtrend) and with oversold RSI conditions, it will be interesting to spot what traders look to do looking forward. Trading Levels for USDCHF Daily Resistance Levels 0.7970 MA 500.80 psychological levelLong-term pivot 0.80 Zone (0.80 to 0.81)Main resistance 0.8150 to 0.82 (last highs 0.8165)May 2025 highs 0.8475 Resistance ZoneDaily Support Levels 0.7890 current daily lows and counting (and middle of downward channel)0.7840 to 0.7875 2025 lows0.77 to 0.7735 August 2011 lowsUSDCHF 1H Chart USDCHF 1H Chart, September 16, 2026 – Source: TradingView A measured move would place the pair to new lows in 2025 as the imminent selling accelerates after the Retail Sales data. On the other hand, watch for the way oversold levels – The tight bull channel is expected to hold as long as no bull candle closes above the previous one, so sellers are tightly in control for now. Watch price action in any close above the 0.7950 short-term pivot zone and any potential acceleration above 0.80. If the current trend continues, look at the 2011 support levels. Safe Trades and successful trading ahead of the FOMC! Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier 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.

As of September 16, three of Ethena Labs’ products were in the top 50. The platform’s native algorithmic stablecoin, USDe, trailed Hyperliquid (HYPE) in the top 20. At the same time, ENA is perched at 41st, flipping Bitget and Pepe. Even though ENA USD might be under pressure in the last week of trading, ENA crypto holders are upbeat and expect a sharp reversal in the coming days. On Coingecko, the ENA price is changing hands at around $0.70, down -15% in the past week of trading but relatively stable in the last 24 hours. Even with this dump, ENA crypto is up +230% year-to-date and trending at around last month’s close, soaking in selling pressure. (Source: Coingecko) Meanwhile, on DefiLlama, Ethena continues to attract more assets. The protocol currently manages over $13.8Bn in assets. Notably, at this level, the total assets under management have rapidly expanded, rising from around $5.4Bn in early July to more than doubling to $13.8Bn, an all-time high as of September 2025. (Source: DefiLlama) Reflecting this expansion in total value locked (TVL) is the spike in revenue. In Q3 2025, Ethena generated $8.63M in revenue, up from $1.15M in Q2 2025. DISCOVER: Best Meme Coin ICOs to Invest in 2025 Is ENA USD Preparing For $1? Ethena Bulls Upbeat Technically, ENA ▼-3.34% is bullish. The local support is at around $0.60, while resistance is at September highs of around $0.90. As the ENA price moves sideways, the breakout direction will determine whether it was accumulation or distribution. Ideally, a close above $0.90 opens up ENA crypto to $1, a huge milestone for the stablecoin issuer. ethenaPriceMarket CapENA$10.58B24h7d1y It will also confirm the bullish trend that began in early July, when ENA USD jumped from around $0.25 to as high as $0.85 in mid-August 2025. On X, one analyst notes that ENA USDT price action is forming a cup-and-handle formation. This is usually a bullish pattern, and depending on how the double top, marking the cup, is broken, the pace of the uptrend will be set. (Source: eugenegeu, X) For the analyst, ENA crypto is set for major gains in the coming days, citing several developments. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in 2025 Ethena Labs Announces A Fee Switch: A New Era For ENA Crypto? The analyst noted that the announcement of the fee switch on September 15 was at the top of the list. The fee switch proposed in 2024 aims to transform ENA from being a government token into a yield-bearing asset. The next steps involve the Risk Committee hashing out details, specifically the exact revenue split. Later, ENA holders will vote on their proposals. If approved, the fee switch could trigger more ENA buybacks, reducing circulating supply and boosting prices. Meanwhile, ENA stakers will receive a decent yield from Ethena’s stablecoin activities. Providing more tailwinds, StablecoinX, the DAT accumulating ENA, has increased its buyback program from $5M to $10M daily, intensifying its purchasing efforts as long as ENA USD remains below $0.70. DISCOVER: Best New Cryptocurrencies to Invest in 2025 ENA USD To $1? Ethena Fee-Switch Is A Big Deal ENA crypto under pressure but traders upbeat ENA USD could soar above $1 Ethena TVL rapidly rising Risk Committee says its time for a fee switch The post ENA USD To $1? Ethena Fee-Switch Is A Big Deal appeared first on 99Bitcoins.

Bitcoin is trading above the $115,000 mark as markets brace for tomorrow’s critical decision from the US Federal Reserve. This week promises to be decisive, as the outcome of the Fed meeting will provide a clearer macroeconomic picture, shaping the outlook for risk assets, including cryptocurrencies. Investors are widely expecting an interest rate cut, but uncertainty remains over the scale and pace of policy easing. A 25-basis-point cut could be seen as a measured pivot, signaling confidence in a controlled economic adjustment. In contrast, more aggressive action might spark concerns about deeper issues in the US economy, injecting fresh volatility into markets. Beyond rates, attention will also turn to any hints about quantitative easing policies, which many analysts believe could play a pivotal role in fueling liquidity flows into risk assets. For Bitcoin, the stakes are high. Despite recent volatility, the cryptocurrency has held key levels, supported by structural demand and growing institutional interest. According to top analyst Axel Adler, the Bitcoin Risk Index is currently at a low level, indicating a relatively calm environment with limited probability of sharp pullbacks or liquidations. This backdrop offers bulls a cushion, but the Fed’s decision could quickly shift the balance. Bitcoin Risk Index Signals Calm Before Fed Decision According to Axel Adler, the Bitcoin Risk Index offers a clear view of the market’s underlying stability. The higher the index, the more dangerous the configuration relative to the past three years, as it signals increased probability of rapid pullbacks or liquidations. Currently, the index sits at just 23%, a relatively low level that suggests the market environment is calm and the probability of sharp drops remains minimal. Adler points out that a similar setup unfolded between September and December 2023, when the index stayed subdued, allowing Bitcoin to gradually build strength. During that period, volatility was limited, and the calm conditions set the foundation for a continuation of the bullish trend. This historical parallel reinforces the idea that the current environment may be favorable for sustained growth if external shocks are avoided. Still, Adler notes that the immediate risk lies in macroeconomic uncertainty. With Jerome Powell and the Federal Reserve set to announce their latest decision tomorrow, investors remain cautious. Adler even remarked that he hopes there won’t be any surprises from Powell, as unexpected moves could quickly disrupt the calm backdrop. As the market braces for volatility, many analysts believe Bitcoin could surge in the coming weeks. With risk indicators low, exchange supply tightening, and institutional demand resilient, conditions appear supportive for further upside once clarity from the Fed emerges. Price Action Details: Holding Key Demand Bitcoin is trading at $115,739 after a steady recovery from early September lows, showing resilience as it approaches a decisive range. The chart highlights that BTC is holding above the 50-day (blue) and 200-day (red) moving averages, while pressing against the 100-day SMA (green), which sits near current levels at $114,417. This area is proving to be a pivotal battleground for bulls and bears alike. Despite intraday volatility, BTC has managed to stay above the critical $114,500–$115,000 support zone, showing demand from buyers whenever the price dips. The next significant resistance lies near $123,217, the previous peak and key psychological barrier that bulls must reclaim to confirm a breakout toward $125,000 and beyond. Momentum remains cautious but constructive. The higher lows formed since early September signal that buyers are gradually absorbing supply, even as the market faces macroeconomic uncertainty ahead of the Fed’s interest rate decision tomorrow. A dovish outcome could fuel further upside, while a hawkish surprise risks pulling BTC back toward $112,000. Featured image from Dall-E, chart from TradingView

Uranium.io has launched what it calls the world’s first live uranium spot pricing oracle, aiming to inject long-missing transparency into a market that has operated largely in the shadows. The proprietary feed, available at price.uranium.io, updates every 60 seconds and delivers near real-time spot price estimates by aggregating multiple market inputs and applying advanced algorithms. Unlike other commodities with transparent benchmarks, uranium has long relied on opaque, over-the-counter trades and delayed reporting. The new oracle seeks to close that gap by offering continuous, market-reflective pricing. “Price discovery for uranium isn’t just happening in the uranium spot markets but across a wide array of economically related assets,” said Arthur Breitman, co-founder of Tezos. “The oracle starts a virtuous circle by injecting this information back into the uranium market, which in turn can improve its liquidity and foster better price discovery.” The system factors in spot feeds, valuations of uranium and nuclear-sector assets, equities of uranium producers, and uranium-focused commodity funds. Its launch comes as institutional interest in uranium grows. A “Fuel the Future” report surveying more than 600 investors found 97% of institutions would consider uranium exposure if access were simplified, though 78% cited regulatory clarity as essential. Uranium.io says the oracle could help lower those barriers by delivering reliable and accessible pricing. Built on the same infrastructure as Uranium.io’s xU3O8 tokenization platform—launched in December 2024 on Etherlink, a Tezos-powered Layer 2 blockchain—the system also provides live and historical data via API for integration with financial systems, trading platforms, and research tools. “For years, we’ve had to piece together uranium pricing from fragmented sources and delayed reports,” said Crispin Clarke of Curzon Uranium. “This oracle finally gives us the near real-time data we need. It’s a game-changer.” Backed by Curzon Uranium and Archax, with storage provided by Cameco (TSE: CCO)(NYSE: CCJ), Uranium.io is positioning itself as the backbone of a digital uranium market. Following the listing of xU3O8 tokens on major exchanges, the live pricing oracle adds another layer of infrastructure designed to open uranium investment to a wider audience.

The crypto world just got some rare good news. After years of fighting, Gemini and the SEC have finally agreed to settle their dispute over the Gemini Earn lending program. The deal isn’t final yet, but it already shows a softer tone from regulators. For investors, it’s a sign that crypto projects might get more breathing room as the industry matures. Add Gemini’s successful IPO to the mix and you have a new narrative: crypto isn’t going anywhere, it’s getting stronger. And that leaves one big question on the table. What’s the next crypto to explode as Gemini and SEC make peace? Let’s dive into three new crypto projects that could be the next to explode. The Gemini-SEC Settlement Sets the Stage Gemini launched Earn back in 2021, letting users lend Bitcoin and other assets through Genesis Global Capital. By late 2022, things froze, leaving $900M in limbo for about 340K customers. The SEC came after Gemini in early 2023 for running an unregistered securities scheme. Now, after a $21M deal with Genesis and a planned $10–20M settlement for Gemini, the case is almost closed. The Winklevoss twins even pulled off a $425M IPO just days before news of the settlement broke. With the SEC signaling a friendlier stance under Trump’s administration, investors are back to scanning the horizon for the best altcoins. 1. Best Wallet Token ($BEST) – A Token Powering Crypto’s Next Chapter With Gemini’s settlement showing regulators are ready to give crypto more space, investor focus is turning to tokens that unlock real value inside growing ecosystems. Best Wallet Token ($BEST) is one of the standouts. Instead of being just another coin, $BEST acts as the key to a fast-growing platform that blends wallets, NFTs, DeFi, and presales into one seamless experience. Holding $BEST comes with tangible perks. Token owners enjoy reduced transaction fees, early access to new projects, boosted staking rewards, and governance rights through partnerships. The biggest draw right now is its ‘Upcoming Tokens’ feature, which gives $BEST holders a safer way to enter presales directly inside the app. The numbers tell the story. $BEST is priced at $0.025645 in its presale, which has already pulled in $15.8M. Backed by a 70,000-strong community and a self-proclaimed 50% monthly user growth, $BEST isn’t just a utility token – it’s quickly shaping up to be one of the best crypto presales of 2025, aligned with the shift toward regulated and trusted crypto projects. 2. SUBBD Token ($SUBBD) – Where AI Meets the $85B Creator Economy As Gemini clears its case with the SEC and the industry leans toward legitimacy, investors are turning to tokens that bring crypto utility into mainstream markets. SUBBD Token ($SUBBD) sits right at that intersection, combining decentralized payments with AI-powered content creation tools in a market already worth more than $85B. At its core, $SUBBD fuels a creator subscription platform designed to cut out the middlemen. Influencers who normally lose up to half their income to managers and platforms can instead rely on SUBBD’s AI assistant to automate chat, editing, and monetization. Fans benefit too, with instant, low-fee crypto payments that let them tip, subscribe, or unlock premium content in real time. The platform even supports fiat payouts for a borderless economy. AI utility is the unique kicker. $SUBBD lets users generate realistic AI photos, avatars, and videos tied directly to creator-approved content. For token holders, the benefits go further: presale staking at 20% APY, premium access to creator drops, and boosted rewards. The presale has raised $1.1M so far, and you can buy $SUBBD for $0.05645. In a post-Gemini settlement world, where regulatory clarity is expanding crypto’s reach, $SUBBD looks like one of the next crypto tokens ready to explode. 3. World Liberty Financial ($WLFI) – Governance Token at the Heart of Trump’s DeFi Push As regulators like the SEC settle major cases such as Gemini’s, investors are watching for tokens that combine visibility, utility, and governance. World Liberty Financial ($WLFI) is one of them. Trading at around $0.2212, $WLFI is the governance and utility token powering the World Liberty ecosystem, which also includes a USD-pegged stablecoin called $USD1. $WLFI holders get the ability to vote on protocol upgrades, treasury use, and ecosystem incentives. To avoid centralization, no wallet can control more than 5 percent of the votable token supply, which is meant to prevent one entity from dominating decisions. The ecosystem is multichain, running on Ethereum, BNB Smart Chain, and Solana, with a roadmap that expands into lending and borrowing services secured by over-collateralized assets. The token also ties into $USD1, a stablecoin backed by U.S. cash and Treasuries. Together, they aim to build a bridge between traditional finance and DeFi. That way, WLFI positions itself as a governance-driven project with real potential to gain traction. The Road Ahead for Crypto’s Next Movers With Gemini and the SEC finally settling their dispute, the stage is set for projects that combine utility with growth potential. Best Wallet Token ($BEST) is driving secure ecosystems, SUBBD Token ($SUBBD) is reinventing subscriptions, and World Liberty Financial ($WLFI) is boosting governance and stablecoins. These could be among the next crypto to explode as the market steadies. This article is for informational purposes only and not financial advice. Always do your own research (DYOR) before investing in crypto. Authored by Aaron Walker, NewsBTC – https://www.newsbtc.com/news/gemini-and-sec-settlement-sparks-buzz-around-the-next-crypto-to-explode/

US Retail Sales (YoY) (August): +5.0% vs +3.2% expected, above consensus by +1.8%US Retail Sales (MoM) (August): +0.6% vs +0.2% expected, above consensus by +0.4%US Retail Sales Control Group (MoM) (August): +0.7% vs +0.4% expected, above consensus by +0.3%US Retail Sales ex. Gas/Autos (MoM) (August): +0.7% vs -0.1% expected, above consensus by +0.8%US Retail Sales ex. Autos (MoM) (August): +0.7% vs +0.4% expected, above consensus by +0.3%US Retail Sales Report (August 2025): Advance Estimates of U.S. Retail and Food Services August 2025, U.S. Census Bereau "Advance estimates of U.S. retail and food services sales for August 2025, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $732.0 billion, up 0.6 percent (±0.4 percent) from the previous month, and up 5.0 percent (±0.5 percent) from August 2024. Total sales for the June 2025 through August 2025 period were up 4.5 percent (±0.4 percent) from the same period a year ago. The June 2025 to July 2025 percent change was revised from up 0.5 percent (±0.4 percent) to up 0.6 percent (±0.2 percent).""Retail trade sales were up 0.6 percent (±0.4 percent) from July 2025, and up 4.8 percent (±0.5 percent) from last year. Nonstore retailers were up 10.1 percent (±1.2 percent) from last year, while food service and drinking places were up 6.5 percent (±1.8 percent) from August 2024." Advance Estimates of U.S. Retail and Food Services August 2025, U.S. Census Bereau Developing story, refresh for updates 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.

The British pound has posted gains for a second straight day. In the European session, GBP/USD is trading at 1.3636, up 0.28% on the day. UK employment declines, wages dip The UK employment report didn't shine but there were no nasty surprises and investors reacted with a thumbs-up for the British pound. The number of employees on payrolls fell by eight thousand in August, marking a seventh consecutive decline. Still, this figure was less than expected, suggesting that perhaps the worst is over for the labor market, which softened after the government enacted higher payroll taxes and a hike in the minimum wage. Today's employment report has increased market expectations that the Bank of England will maintain rates at 4.0% at Thursday's meeting. As long as the labor market remains stable, the central bank is unlikely to lower rates, as inflation has been moving higher. The BoE has projected that inflation will peak at 4%, double its target. If inflation remains at such high levels, it's doubtful that the BoE will lower rates before 2026. The August inflation report, which will be released on Wednesday, is expected to show that headline CPI was unchanged at 3.8% y/y and core CPI eased to 3.6% from 3.8%. GBP/USD Technical GBP/USD is testing resistance at 1.3629. Above, there is resistance at 1.36621.3588 and 1.3555 are providing support GBPUSD Chart 1-Day, September 16, 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.

Multicoin Capital co-founder Kyle Samani believes Solana-native Digital Asset Treasuries (DATs) have a structural advantage over Bitcoin-focused vehicles—and that the mechanics underpinning those DATs could become a durable, price-positive flywheel for SOL. Speaking on Blockworks’ Empire podcast days after Forward Industries closed a $1.65 billion PIPE led by Galaxy, Jump, and Multicoin, Samani argued that Solana’s yield, composable DeFi, and on-chain corporate operations create cash flows and optionality that Bitcoin simply can’t match. Why Solana DATs Beat Bitcoin “We’re building a new financial system from the ground up,” Samani said, framing Forward as both a proof-of-concept for “internet capital markets” and a scaled balance sheet that can systematically convert Solana’s technical and financial primitives into shareholder value. The immediate differentiator in his view: yield. “Saylor is paying roughly 9% [on MicroStrategy’s perpetual preferreds], but his core business produces effectively no cash flow… our vehicle will produce cash flow via two mechanisms at a bare minimum. The first… is the native SOL staking yield… roughly 8%. And the second is by doing this credit spread arbitrage,” he said. By borrowing dollars from traditional lenders at single-digit rates and deploying into on-chain venues yielding “12–20% depending on what you’re doing,” Forward intends to use that spread, plus staking rewards, to service perpetual coupons—something a Bitcoin treasury cannot replicate because BTC is non-yielding. “You can actually objectively show where the profits are coming from to pay the coupons,” he added, suggesting Solana DATs could even secure better terms than Bitcoin vehicles over time. Samani cast the $1.65 billion raise as a starting gun for a broader re-architecture of corporate finance on Solana. Forward plans to “be the guinea pig” that runs core operations on-chain—“payroll, paying vendors… equity issuance, raising money, dividends, stock splits… shareholder votes”—with the first milestone being tokenizing a portion of the company’s equity. Notably, he expects a “pretty good chunk” of PIPE participants to “take delivery on-chain,” and said Forward will ultimately lean into real-time transparency: “I am optimistic we will at some point publish all the company’s addresses… so dashboards [can] update in real time.” Much of the thesis rests on scale and the ability to convert that scale into accretive economics—both within Solana’s DeFi and across the emerging DAT landscape. Galaxy Asset Management will operate staking and DeFi deployments; Jump contributes infrastructure and performance—“all of the nodes that we’re running are running Firedancer”—and proprietary transaction-ordering technology. Samani was explicit that Forward will not buy locked or liquid SOL from Multicoin, Jump, or Galaxy balance sheets, and that sponsor economics are split one-third each among the three firms, with Multicoin’s share accruing to its hedge fund LPs, not to him personally. On the DAT market itself, Samani expects consolidation and cross-chain roll-ups, with Solana primed to dominate: “The market’s not going to sustain 20 Solana DATs… I can see a world in which it sustains like three or four.” He called mNAV arbitrage “a very big opportunity,” arguing that vehicles trading at premiums can accretively acquire those at discounts, while Solana’s liquidity, service-provider depth, and credit acceptance put it ahead of smaller ecosystems. “I’m very skeptical that [sub-scale] mNAVs will sustain at all,” he said, singling out non-SOL, non-ETH DATs as most vulnerable. Solana DATs Vs. ETFs Samani also contends that pending US spot ETFs for SOL—especially with staking enabled—would amplify the Solana DAT advantage rather than dilute it. “I am very optimistic” staking appears in SOL ETFs “soon… sometime by the end of the year,” he said. In his telling, interchangeable wrappers—spot on exchanges, ETFs for brokerage rails, and corporate-wrapper DATs—expand the investor base while leaving Solana’s intrinsic yield engine intact. Forward, for its part, “expects the [vehicle] will be staking the substantial majority” of its SOL. Underpinning the price angle is Samani’s view that Solana DATs manufacture persistent demand for SOL while routing cash flows back to equity holders. Locked-token acquisitions at discounts, systematic staking, bank-line funded DeFi strategies, and bespoke liquidity deals with leading protocols together create what he describes as structural accretion. The contrast with Bitcoin is stark in his framework. Without native cash flows, BTC-based treasuries rely on external financing and price appreciation; Solana DATs, he argued, can fund themselves. “Bitcoin can’t compete” in this dimension because it lacks staking yield and composable on-chain markets to arbitrage credit at institutional scale. That gap broadens, he maintained, if banks increasingly accept staked SOL as collateral and if ETF structures normalize staking. Forward is already “talking with a bunch of counterparties” about routing through banks with access to the Fed window to secure the cheapest possible dollar financing against SOL collateral, though he cautioned that none of this is guaranteed. For now, the scoreboard is concrete. The raise closed “in about two weeks,” with Samani estimating a roughly 40/60 crypto-native to TradFi split among participants. He personally invested $25 million; Multicoin contributed “$114–115 million.” Galaxy’s distribution pulled in “a lot” of PIPE orders; Jump’s technical edge targets incremental yield. Forward plans to be an active consolidator of DATs “both SOL and non-SOL,” while building out a dedicated executive team to run the Solana treasury line alongside the company’s legacy business. The implication for price, Samani insisted, is straightforward: Solana’s yield engine plus institutional credit and ETF rails create sustained, programmatic demand for SOL. “In retrospect it was inevitable,” he said of the consortium behind Forward. Whether that inevitability translates into Samani’s headline claim—Solana DATs “beating” Bitcoin vehicles and setting SOL up to surge—will depend on execution, market liquidity, and the pace at which banks, ETF issuers, and regulators bless staking-based structures. Notably, Forward Industries completed the massive purchase of 6,822,000 SOL tokens worth $1.58 billion at $232 average yesterday. The company has only $67 million left to purchase additional SOL. At press time, SOL traded at $235.

“US Jobless Claims Spike: Labor Market Weakness, Fed Rate Cuts, and Market Implications” Unemployment number The old trading adage, “It’s not the news but the reaction to the news that matters,” was on full display after last week’s sharp increase in U.S. weekly jobless claims. Markets initially reacted to fears of an acceleration in labor market weakness, but the details suggest a less dire picture. What the Jobless Claims Data Shows Initial claims for unemployment insurance spiked by 27,000 to 263,000, well above the consensus forecast of 230,000. This was the highest reading since October 2021, raising concerns about whether the labor market is finally cracking under the weight of tighter monetary policy. Unemployment number Key Factors Behind the Spike Texas-driven increase Texas accounted for more than 15,000 additional claims above normal levels. Analysts speculated this could be due to filing errors, misclassifications, or disaster relief claims mistakenly processed under unemployment insurance. Holiday effects The filing week included the Labor Day holiday, which may have distorted seasonal adjustments and inflated the headline number. Signs of labor market cooling Beyond technical distortions, the broader trend points to gradual labor market weakness. Weaker non-farm payrolls, downward revisions to both recent and past data, and a decline in JOLTS job openings highlight a cooling jobs market. Surveys show lower confidence among job seekers, particularly at the entry level. Implications for the Federal Reserve Despite the sharp spike, the Fed is unlikely to view it as evidence of a sudden collapse in employment. Instead, policymakers will focus on the underlying softening trend in the labor market side of its dual mandate. The FOMC decision on September 17 will come before the next weekly jobless claims release, limiting the weight of this one data print. While inflation remains sticky, a weaker trend in employment is likely to take precedence, and as widely expected, see the Fed to cut rates by 25 basis points. Markets will closely watch the tone of the Fed’s statement and Chair Powell’s press conference for signals on whether the Fed still sees room for three cuts this year, including September. A surprise outcome would be: A 50 bps rate cut, signaling deeper concern about growth risks. It would also raise questions about Fed independence (Trump’s Pressure on the Fed) Or a more cautious, less dovish tone, suggesting the Fed is still data dependent given the uncertain impact of tariffs and not confirm market expectations for 3 rate cuts.. To sum up, the spike in jobless claims likely reflects technical distortions in Texas and holiday effects rather than a dramatic drop in employment. Still, it fits into a larger picture of a softening labor market, keeping pressure on the Fed to deliver policy easing. For traders, the key is not just the data itself but how the Fed reacts to the broader trend in jobs and inflation. U.S. 10-year Treasury bond daily CFD chart (price is inverse of yield) Unemployment number Take a FREE Trial of The Amazing Trader – Charting Algo System The post Jobless Claims Spike: What It Means for the Fed and Markets appeared first on Forex Trading Forum.

Is Bitcoin critic Peter Schiff finally going to be right for the first time in 16 years about Fed rate cuts? If you say the sky is falling until it happens, then you will say “See, I called it!!” just like Schiff. Schiff took to X (formerly Twitter) to argue that BTC may be “topping out” instead of preparing for a breakout. 99Bitcoins analysts argue Bitcoin must reclaim $114K as solid support to set up a sustained push toward $117K and beyond. Failure to do so risks trapping BTC in a sideways channel between $110K and $115K until the Fed delivers clearer forward guidance. With the September rate cut almost guaranteed, Powell’s tone will be the real catalyst. A dovish outlook could spark the breakout Schiff insists won’t come. EXPLORE: ETH USD Price Primed to Retest $4,700: Dark Money Rotating into Ethereum? Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Is Bitcoin critic Peter Schiff finally going to be right for the first time in 16 years about Fed rate cuts? Schiff pushed back, countering that if this were “just consolidation,” Bitcoin should already have broken out. The post Peter Schiff Warns Bitcoin Is “Topping Out” Ahead of Fed Rate Cuts appeared first on 99Bitcoins.

The FBI’s New York office is urging SafeMoon investors who lost money to come forward as part of a federal investigation into one of the DeFi’s most infamous frauds. In May 2025, former SafeMoon CEO Braden John Karony was convicted on charges of conspiracy to commit securities fraud, wire fraud, and money laundering. Prosecutors said Karony and his partners misled investors throughout the 2021–2022 bull run, including false claims about executive access to SafeMoon’s liquidity pool and how those funds were being used. Karony and co-conspirator Kyle Nagy (still at large) diverted millions of dollars from SafeMoon’s liquidity pool. If you’re one of the many victims seeking justice, here’s how: Did SafeMoon Scam You? Stand Up For Justice Here (Source: FBI) The FBI is now asking SafeMoon V1 investors to complete a victim impact form. Responses will help federal investigators assess the scope of damages, determine restitution eligibility, and potentially contact victims for follow-up. You can sign up for justice against SafeMoon here. According to the Bureau: Victims may qualify for “certain services, restitution, and rights under federal and/or state law.” All information submitted will remain confidential, with voluntary disclosures aiding the federal investigation. DISCOVER: Top 20 Crypto to Buy in 2025 SafeMoon’s Rise and Collapse: How Did This Scam Get So Big? SafeMoon was emblematic of the 2021 “meme coin” mania. It actually predated the formal memecoin wave that would come three years later. Promoted as a community-driven token with “automatic liquidity,” it rode the retail wave alongside Dogecoin and Shiba Inu. At its peak, SafeMoon briefly reached a multibillion-dollar market capitalization. However, unlike projects such as EOS or Tron, which are flawed but backed by formal development teams, SafeMoon had little technical depth. It was built around viral hype and aggressive social media marketing. (Source: X) As one early critic in the SafeMoon subreddit recalled: “SafeMoon was so obviously developed by a few shitheads I couldn’t believe my eyes when I saw people emphatically repeating the complete nonsense claims,” the user wrote. “There were so many safemoon shills when the daily thread was hitting 20k + comments daily lol.” – Reddit user While exact figures vary, on-chain analysis shows that SafeMoon’s market cap peaked near $6 Bn in spring 2021 before collapsing by over 95% within a year. CoinGlass data suggests that daily trading volume once exceeded $500 Mn but is now negligible. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 SafeMoon V2 and Will the FBI Deliver Justice? Expectedly, there’s a new SafeMoon project, Safemoon V2, but nobody trusts any project that is even vaguely associated with the scam. More broadly, the SafeMoon case signals regulators’ growing willingness to target centralized exchanges and token issuers. Karony’s conviction, paired with ongoing investigations into Nagy and Smith, closes a chapter on one of crypto’s most infamous projects. But the call for victims also raises the question: how many other meme coins from the 2021 frenzy will eventually face similar scrutiny? EXPLORE: Did Dogecoin ETF Just Change Everything For Meme Coins? Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways The FBI’s New York office is urging SafeMoon investors who lost money to come forward against one of the biggest frauds in DeFi. Expectedly, there’s a new SafeMoon project, Safemoon V2. Steer clear. The post FBI Launches Safemoon Victim Appeal: Will SFM Investors Get Money Back? appeared first on 99Bitcoins.

Anglo American (LON: AAL) Chile’s state-owned copper miner Codelco have sealed a landmark deal to jointly operate their neighbouring mines in central Chile, unlocking at least $5 billion in value. The agreement combines Anglo’s Los Bronces and Codelco’s Andina mines, creating a new mining district outside Santiago. The partnership is expected to generate an additional 2.7 million tonnes of copper over 21 years, once permits are secured, which are anticipated by 2030. Andina, one of Codelco’s smaller operations, produced 181,600 tonnes of copper last year. Los Bronces, a key operation for Anglo American, yielded 172,400 tonnes. Codelco already holds a 20% stake in Anglo American Sur, which operates Los Bronces, El Soldado, and the Chagres smelter. The combination effectively creates a new mining district in Chile, Andina – Los Bronces. A jointly owned new company will run the merged assets, with each partner retaining ownership of its respective mines. Los Bronces and Andina pits location. (Image: Anglo American.) “Together, we are demonstrating what is possible when two leading copper mining companies work together with a shared purpose and commitment to excellence,” Anglo American CEO Duncan Wanblad said in the statement. Codelco Chairman Máximo Pacheco said the arrangement will maximize the potential of the district without major new investment. The deal also embeds sustainability principles and flexibility to align with each company’s environmental commitments. Chile’s National Mining Association (Sonami) welcome the news. It said that clustering projects into mining districts could help streamline the permitting process. Growth through partnerships Codelco has a long record of private partnerships. It holds 49% of El Abra with Freeport-McMoRan and 42.3% of the Agua de la Falda project with Rio Tinto. Last year, it acquired 10% of Teck’s (TSX: TECK.A, TECK.B)(NYSE: TECK) Quebrada Blanca copper mine, expected to boost its annual output by up to 30,000 tonnes. That agreement remains intact despite the planned $53 billion merger between Anglo and Teck, announced in early September. Separately, Anglo continues to advance the Los Bronces Integrated Project, approved in 2023 after initial rejection and criticism over its potential impact on glaciers and water supply. Production ramp-up is expected to begin in 2027.

Everyone is expecting BTC USD to pump after the rate cuts. You know what that means. This is the start of figuring out if BTC ▲0.79% can add another $3 Tn in market cap to bring the price of Bitcoin to 200k USD in 2025. Currently, BTC is just above $115,000, heading into one of the most important macro weeks of the year. With the Federal Reserve’s policy meeting set for September 17, let’s talk about the odds that BTC USD breaks new ATHs or crashes below $100,000 DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 BTC USD Range-Bound Ahead of Fed Decision: Are Fed Rate Cuts Enough For $150,000? bitcoinPriceMarket CapBTC$2.31T24h7d1y As of press time, Bitcoin traded at $115,046, slipping 0.2% in the past 24 hours. 99Bitcoins TA reveals that BTC must decisively clear $116,000 to confirm momentum toward the $120,000–$125,000 range. Failure to break out leaves the door open for a retest of $107,500 support. On-chain data showed short-term holders realizing $189 million in daily profits last week, a factor that adds near-term selling pressure. “Bitcoin now sits at the center of macroeconomic tension, which could drive it in either direction depending on Fed policy direction,” said MEXC chief analyst Shawn Young. (Source: WhaleAlert) According to the CME FedWatch tool, markets are pricing in a 96% chance of a 25-basis-point rate cut. Moreover, if Jerome Powell delivers a dovish Fed tone, it could send Bitcoin surging past $120,000 as capital rotates out of bonds and into risk assets. Regardless, it’s a Catch-22 for the Fed, as they’re staring down weaker labor data that supports cuts, but sticky inflation near 3% complicates the Fed’s path forward. (Source: BLS) Bitcoin has been stuck in a wide “air gap” trading range between $108,000 and $116,000 since August. Clearing resistance at $116K could open the way for a stronger recovery for it and other top cryptocurrencies, while repeated rejections risk dragging BTC toward $105K. DISCOVER: Top 20 Crypto to Buy in 2025 A Divided Fed, A Divided Market: Here’s What Powell Needs to Say at FOMC ETF flows and treasury demand suggest institutions are preparing for a bullish resolution from the Fed. Spot Bitcoin ETFs logged $2.3 billion in inflows last week, the highest in months, signaling aggressive positioning ahead of the Fed meeting. Additionally, CoinGlass data shows that Bitcoin open interest is held by a firm. (Source: CoinGlass) One more metric of interest: According to the latest Census Bureau data, US retail sales rose +0.5% in July, in line with forecasts. June’s figure was revised higher to +0.9%. The report, which tracks changes in retail spending excluding food services, is closely watched as a barometer of consumer demand and overall economic strength. For Bitcoin, we need to see a dovish Fed ,and continued ETF inflows could set up a breakout toward $125K and beyond. But if Powell is too cautious in his rhetoric, we may see BTC trapped between $107K and $115K, waiting for the next catalyst. EXPLORE: Did Dogecoin ETF Just Change Everything For Meme Coins? Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Everyone is expecting BTC USD to pump after the rate cuts. You know what that means. This is the start of seeing if $200k is on the table. For Bitcoin, we need to see a dovish Fed and continued ETF inflows could set up a breakout toward $125K and beyond. The post BTC USD Braces For Fed: What do Retail Sales MoM reveal for FOMC? appeared first on 99Bitcoins.

The euro and the pound continued their active rise today, making the Momentum strategy work very well. I did not trade using the Mean Reversion strategy. A sharp increase in euro area business sentiment led to another strengthening of the euro against the U.S. dollar, followed by gains in the British pound. Investors welcomed the data, which indicated a recovery in industrial production and the services sector, easing fears of a possible recession in the region. Confidence in the European economy is also supported by other factors. In particular, inflation is slowing, albeit at a slower pace than previously expected. The European Central Bank continues to maintain a loose monetary policy, supporting the euro's attractiveness for investors in the long term. In the second half of the day, the dollar may come under more significant pressure, as weak U.S. data is expected. Falling retail sales typically signal weakening consumer demand, which in turn negatively affects company profitability and overall economic outlook. Declines in industrial and manufacturing output indicate shrinking demand for goods and services, which could lead to reduced investment and job losses. In this context, the Federal Reserve will face the need to reassess its monetary policy as early as tomorrow. If the data confirms an economic slowdown, the likelihood of further rate cuts this year after tomorrow's meeting will increase significantly. In the case of strong data, I will rely on implementing the Momentum strategy. If the market does not react to the releases, I will continue using the Mean Reversion strategy. Momentum Strategy (breakout) for the second half of the day: For EUR/USD Buying on a breakout above 1.1828 may push the euro toward 1.1866 and 1.1903.Selling on a breakout below 1.1785 may push the euro down to 1.1746 and 1.1703.For GBP/USD Buying on a breakout above 1.3643 may push the pound toward 1.3677 and 1.3707.Selling on a breakout below 1.3614 may push the pound down to 1.3584 and 1.3555.For USD/JPY Buying on a breakout above 147.12 may push the dollar toward 147.40 and 147.72.Selling on a breakout below 146.80 may push the dollar down to 146.40 and 146.10.Mean Reversion Strategy (reversal) for the second half of the day: For EUR/USD I will look for selling opportunities after a failed breakout above 1.1827 with a return below this level.I will look for buying opportunities after a failed breakout below 1.1785 with a return above this level. For GBP/USD I will look for selling opportunities after a failed breakout above 1.3651 with a return below this level.I will look for buying opportunities after a failed breakout below 1.3606 with a return above this level. For AUD/USD I will look for selling opportunities after a failed breakout above 0.6679 with a return below this level.I will look for buying opportunities after a failed breakout below 0.6659 with a return above this level. For USD/CAD I will look for selling opportunities after a failed breakout above 1.3777 with a return below this level.I will look for buying opportunities after a failed breakout below 1.3757 with a return above this level.The material has been provided by InstaForex Company - www.instaforex.com

Crypto analysts found a strong ‘buy signal’ in $XRP’s recent market performance, indicating a potential significant upward move very soon. Specifically, trader Ali Martinez identified a TD Sequential in XRP’s charts. $XRP has been trading around the critical $3.00 support zone. This is important because, historically, significant $XRP accumulation happened at this level. Traders worry about the coin falling below the $3.00 support, which could cause a decline of roughly 10% to approximately $2.70. $XRP’s future performance could depend on factors such as the SEC’s decision on $XRP-related ETFs and the Federal Reserve’s interest rate policies. Overall, technical indicators suggest a bullish market trend, indicating that now’s the perfect time to consider investing in $XRP. However, you should prepare for some market volatility to manage the risks carefully. As $XRP climbs, investors reaping profits are rotating their gains into emerging altcoins, such as Bitcoin Hyper ($HYPER) and Maxi Doge ($MAXI), sparking a wider altcoin surge. Read here to learn about the best altcoins to buy this altseason. 1. Bitcoin Hyper ($HYPER) Is Turning Bitcoin Into a Powerhouse – You Won’t Believe How Bitcoin Hyper ($HYPER) is an upcoming scalability solution that fills the gap between Bitcoin’s security and the speed and liquidity of Layer 2 ecosystems. $HYPER offers a variety of features including: Fast and low-cost transactions across $BTC, Ethereum, and Solana networks Top-notch security and integrity of Bitcoin Cross-chain plug-and-play functionality enabling dApps and DeFi protocols, leveraging multi-chain liquidity A native fuel for DeFi operations, allowing governance rights, staking rewards, and access to early presale opportunities within partnered ecosystems. $HYPER is a triple-chain utility token with its promising tokenomics and multi-chain capabilities, positioning it as a versatile asset for advanced portfolio strategies. Read more about Bitcoin Hyper’s utility in our guide. The project has also been gaining wide traction from big players. Yesterday two whales scooped $58.6K worth of $HYPER, split between a $31.5K and a $27.1K buy — signalling that big wallets are not waiting! Bitcoin Hyper ($HYPER) is currently priced at $0.012925 with a listing price set at $0.012975. Considering the project’s ambitious roadmap, our expert projections place $HYPER at $0.02595 by the end of 2025 (about 100% ROI), $0.08625 by the end of 2026 (around 7.5x ROI), and as high as $0.253 by 2030 (over 22x ROI from presale). Besides, you can earn up to 70% APY by staking. If you buy $1,000 $HYPER today, you could acquire ~77,370, potentially earning around $700 in staking rewards by year-end. That’s $1,700 if the price only reaches the listing level, while the upside could be much higher when $HYPER hits its roadmap milestones. Presale opportunities like this don’t wait. Here’s how to buy Bitcoin hyper today! Secure your $HYPER at today’s presale rate and staking rewards — tomorrow could bring the next surge. 2. Maxi Doge ($MAXI) Is Taking Meme Coins to the Moon – Here’s What You Need to Know Maxi Doge ($MAXI) is another booming meme coin that combines meme culture with aggressive utilities. The project’s biggest USP is its super high staking rewards, initially as much as 146%. Additionally, $MAXI isn’t just a token; it’s a lifestyle. Every buy-in is a flex—max leverage, max pump, max culture. Here is why $MAXI could be your next big bag this altseason: The token has futures trading platforms integration plans. Maxi Doge has built vibrant community engagement through giveaways and competitions, further incentivizing participation. It plans to build on the Dogecoin narrative with multi-chain deployment plans and a roadmap that includes influencer campaigns, and exchange listings. Maxi Doge ($MAXI) is now priced at $0.0002575, with a total of $2.2M raised so far. The next price surge is less than two days away, and with $MAXI whales buying $37K less than a month ago, you can practically feel the pump. Investing $500 in $MAXI today could be pretty profitable down the line, considering both price appreciation and stakeholding rewards. At a 146% APY, $500 could generate up to $730 in staking rewards by year-end, bringing your total gains to $1,230, even without factoring in a potential price spike. With $MAXI, the upside potential is unmistakable if the token continues to ride the altseason momentum. You can grab your $MAXI today by visiting the Maxi Doge presale website — the next pump could hit as soon as tomorrow. 3. Why $XRP’s Upcoming Bounce Means Altcoins Are Ready to Explode $XRP’s upward price trend has a general positive impact on the altcoin market for numerous reasons. For starters, when a bluechip coin like $XRP rallies, it renews investor optimism and boosts market confidence, a sentiment that spills over into other altcoins. Furthermore, $XRP’s price rally mirrors the growing institutional interest, which is increasing trading volumes, creating a favorable environment for altcoins to perform well. TradingView’s 1-week rating suggests a strong bullish outlook, with analysts projecting a potential surge towards the $4.20–$4.50 range once the coin breaches the resistance level around $3.40. Additionally, $XRP breaking key resistance levels coincides with favorable macroeconomic conditions, such as Bitcoin stabilization and regulatory clarity, which simultaneously boosts the broader altcoin market appeal. $XRP is now live on major crypto exchanges, while $HYPER and $MAXI presales remain exclusive to early presale buyers. With $XRP leading the charge, early investors have a chance to score big by joining in on $HYPER and $MAXI presale today. This isn’t financial advice. The cryptocurrency market can be highly volatile. Always do your own research before making any investments. Authored by Aaron Walker, NewsBTC – www.newsbtc.com/news/best-altcoins-to-buy-xrp-buy-signal-analyst

According to a recent interview, Jake Claver, CEO of Digital Ascension Group, has pushed a strongly bullish case for XRP with aggressive price targets and a clear list of what he believes will move markets. Claver told host Paul Barron that a mix of policy shifts and market moves could send XRP far above its current trading level just under $3. Claver’s Bold Targets Claver put forward price ranges that would surprise many watchers: $10 to $13 as a plausible near-term target and $20 to $25 as a stretch outcome by year-end. He tied the $10–$13 scenario to approval of an XRP exchange-traded fund, saying he holds 90% confidence that an ETF will be approved. Claver also linked the broader rally idea to expected interest rate cuts, arguing that lower borrowing costs would push money into risk assets. Based on reports, market participants have placed an over 96% chance on a 0.25% Fed rate cut. That probability has been widely discussed by traders and analysts as a major market trigger. Interest Rates And Market Flows Reports have disclosed that many market voices think a rate cut could stoke rallies across the crypto space. Some analysts forecast a Bitcoin run to $150,000 and Ethereum climbing to $10,000 if easing arrives. That kind of movement in the largest coins, the argument goes, tends to lift smaller tokens along with it. Claver suggested that ETF approval plus rate relief would be a clear fuel source for XRP gains. He made the point that ETFs act like a gateway for institutional cash. Holding Patterns And Liquidity Signals Meanwhile, Xaif Crypto’s data was cited to show that more than 80% of XRP’s total supply has not moved from wallets for over a year. That degree of dormancy implies many holders are keeping long positions. When so much supply is idle, available liquidity shrinks. Price swings can then become more extreme if demand rises quickly. That dynamic was suggested as another reason why a sudden move to double-digit prices could be possible once momentum builds. Utility Case And Regional Interest Claver emphasized XRP’s payments use case and singled out Southeast Asia as a region where the token sees stronger uptake. He also argued that real-world utility—faster cross-border transfers at low cost—makes XRP more attractive to institutions than many trend-driven tokens. Holders who back that view are described as loyal and confident, and that behavior was presented as a stabilizing factor for the market. Featured image from Meta, chart from TradingView

This is a follow-up analysis and a timely update of our prior publication, “GBP/USD Technical: Corrective decline ended, potential bullish reversal in progress for sterling”, published on 5 September 2025. The price actions of the sterling have staged the expected recovery against the US dollar, as the GBP/USD has rallied by 1.2% and almost hit the lower limit of our highlighted resistance zone of 1.3650/1.3680 (printed an intraday high of 1.3645 on Tuesday, 16 September 2025, at the time of writing). Today’s stellar performance of the GBP/USD (+0.3% has also been reinforced by better-than-expected July’s employment change data for the UK, which came in at 232,000, above the consensus of 222,000, while the unemployment rate remained steady for the third consecutive month at 4.7%, in line with expectations. Read: Guide to the FOMC statement and September SEP: Key takeaways and what to watch Let’s now update the short-term (1 to 3 days) trajectory and key technical elements of the GBP/USD ahead of tomorrow’s FOMC monetary policy decision outcome and the release of the latest Fed economic projections (dot plot). Fig. 1: GBP/USD minor trend as of 16 Sep 2025 (Source: TradingView) Preferred trend bias (1-3 days) A new minor bullish impulsive up move sequence is likely to have kicked off for the GBP/USD from its 3 September 2025 minor bullish reversal low of 1.3333 on the onset of the intraday spike up of the 30-year UK gilt yield over fiscal policy fears. Maintain bullish bias above a tightened short-term pivotal support of 1.3590/1.3570 on the GBP/USD, with the next intermediate resistances to come in at 1.3715 and 1.3750 (also a Fibonacci extension). Key elements The latest price actions of the GBP/USD since 3 September 2025 have evolved into a minor ascending channel, with its upper boundary now standing at around 1.3750.The GBP/USD has traded above its 20-day and 50-day moving averages since 5 September 2025, which reinforces the potential ongoing minor bullish impulsive up move sequence.The hourly RSI momentum indicator of the GBP/USD has continued to evolve in a bullish momentum condition as it manages to hold above its ascending support.The 2-year yield spread premium between the UK gilt and US Treasury note has continued to expand (inched higher) since the 3 September 2025 level of 0.29% to a current level of 0.45% at the time of writing.These observations indicate that short-term UK gilts remain relatively more attractive than US Treasuries due to their yield premium, creating a positive feedback loop that supports further strength in the GBP/USD.Alternative trend bias (1 to 3 days) A break below 1.3570 key short-term support in GBP/USD will negate the bullish tone for a deeper minor corrective decline to expose the next intermediate supports at 1.3500 (also the 20-day moving average) and 1.3450 (also the 50-day moving average) 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.

Today, Tuesday, the GBP/JPY pair ended a four-day rally, reaching levels not seen since July 2024 — around 200.75, set the day before. Nevertheless, prices are still holding above the psychological level of 200.00. Today's UK wage report and Wednesday's Consumer Price Index (CPI) release are expected to provide key insights into inflation trends and their impact on monetary policy. Stronger-than-expected CPI figures could further reduce the likelihood of an imminent Bank of England rate cut, with its decision due Thursday. Such a scenario could support the British pound and attract buyers on declines in GBP/JPY. Ahead of key data releases, the Japanese yen, which has generally strengthened, is pressuring spot prices. Domestic political turbulence does not appear to prevent investors from expecting the Bank of Japan to continue normalizing policy. However, uncertainty about the timing and pace of rate hikes may limit yen strength, preventing deeper losses in GBP/JPY. An additional supportive factor is the positive sentiment in equity markets and the general risk-on trend, which could offer moderate support to GBP/JPY. For this reason, before confirming that the pair has peaked, it is reasonable to wait for stronger selling pressure. From a technical perspective, oscillators on the daily chart remain positive, with the 9-day EMA positioned above the 14-day EMA, confirming the bullish bias of the pair. Accordingly, the path of least resistance remains upward. Still, the pair is likely to undergo some correction in the near term. The material has been provided by InstaForex Company - www.instaforex.com

The Canadian dollar is steady on Tuesday, after starting the week with gains of 0.48% against the US dollar. In the European session, USD/CAD is trading at 1.3765, down 0.09% on the day. It's a busy mid-week for Canadian events, with the August inflation report later today and the Bank of Canada decision on Wednesday. Canada's CPI expected to climb to 2% Headline CPI is expected to rise to 2% in August, up from 1.7% in July. Two key core inflation indicators are projected to post an average of 3.05% unchanged from July. The Bank of Canada is widely expected to lower rates at Wednesday's meeting, after holding rates for three consecutive meetings. The markets are expecting a quarter-point reduction which would lower the policy rate to 2.75%, its lowest level since July 2022. The economy is sending out distress signals. GDP in the second quarter contracted by 1.6% and the labor market shed 100 thousand jobs in July and August. The unemployment rate rose to 7.1% from 6.9%, a three-year high. The weak data strongly supports the case for a rate cut but underlying inflation is well above the BoC's 2% target, which is likely the reason that the central bank has held off from lowering rates. With the labor market deteriorating, the BoC will likely respond with a rate cut in order to stop the bleeding. Underlying inflation remains higher than the BoC wants to see, but barring a huge increase in inflation, a rate cut appears a done deal. The BoC remains concerned about the US-Canada trade war, which has created a lot of uncertainty with regard to the direction of growth and inflation. However, with the announcement in August that Canada would remove counter-tariffs on US goods covered by the Canada-US-Mexico ageement, the BoC is likely to be more comfortable lowering rates. USD/CAD Technical USD has dropped below support at 1.3772 and is testing 1.3766. Below, there is support at 1.3757There is resistance at 1.3781 and 1.3787 USDCAD 4-Hour Chart, September 16, 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.