Redator

Recent drilling by Harfang Exploration (TSXV: HAR) returned a highlight hit of 2.5 metres grading 35.6 grams gold per tonne from drilling in the Koval zone at its Sky Lake project in northwestern Ontario. That interval, in hole SLA-25-04, included 15.6 metres at 4.54 grams gold from 290.85 metres, as well as 8.35 metres grading 7.52 grams gold and 2.5 metres at 35.59 grams gold, Harfang reported Wednesday. Sky Lake is about 500 km north of Thunder Bay. “It has become obvious to us that there may be a significant mineralized system at Koval,” Harfang CEO Rick Breger said in a release. “The regional geology, the project geology, and the information we have gleaned from the drill program all suggest that this shear zone was once very active and is fertile. The delineation of this first mineralized shoot is testament to this fertility.” SLA-25-04 was aimed at testing the down-plunge extension of the shallow high-grade mineralization found in hole SLA-25-03 earlier in May. It cut 17.95 metres grading 6.96 grams gold from 58.5 metres depth, including 13.4 metres at 1.97 grams gold and 8.2 metres at 10.28 grams gold. Testing historical data The results are from 1,338 metres of diamond drilling across six holes in the Koval zone from mid-March until early April. The program tested high-priority targets generated from analyses of historical data from 77 holes, most of which were from the early 1950s, Harfang said. Winter drilling helped the company discover several mineralized zones, such as the red and yellow zones, both east-trending within a long shear corridor that is several kilometres long. The red zone is the main mineralized shoot at Koval. The Sky Lake project sits between the past-producing gold deposits of the Pickle Lake gold district, the Dona Lake mine to the northeast and the Golden Patricia mine to the west. Harfang plans summer drilling to follow up on the results from winter exploration. Shares of Harfang jumped 11% to C$0.09 apiece on Wednesday morning in Toronto, giving the company a market capitalization of C$8.7 million.

US-based critical minerals developer Terra Metals and resource investment firm Metalex Commodities have finalized talks on the creation of what they call a “new copper and cobalt production powerhouse” based in Zambia. A signing ceremony is expected to be held in the US Embassy in Lusaka, underscoring the strategic alignment with US government priorities on critical mineral security, Terra Metals said in a press release Wednesday. The signing will highlight the strengthening US-Africa cooperation in the clean energy transition and will serve as a major diplomatic and commercial milestone for the region’s mining sector, it added. The Delaware-registered miner currently holds mining and exploration assets in the Kabompo Dome, located about 129 km west of First Quantum Minerals’ Sentinel and Kalumbila mines and 177 km west of Barrick’s Lumwana mine. Metalex, also based in the US, has trading operations in Nigeria and Zambia, focusing on critical minerals such as lithium, manganese, copper and cobalt. The newly established partnership, called Lunda Resources, will look to commission a 240-tonne-per-hour copper and cobalt concentrator that will be used to process high-grade ores to supply strategic end-markets, including the US, through the Lobito Railway Corridor. Construction of the smelter is already underway, with commissioning targeted for September 2025, said Terra Metals. To support the project, Metalex has committed $100 million in funding. “This partnership is a leap forward for Zambia’s mining sector and a cornerstone of US-Africa industrial alignment,” said Terra Metals chairman Mumena Mushinge, who will also serve as the chair of Lunda Resources. “We’re building the infrastructure, governance, and funding mechanisms to responsibly extract and deliver the minerals that power the global clean energy future,” Mushinge said.

BONK, the Solana meme coin, is at an intriguing moment in its existence. The project boasts a strong community and a 50% price increase over the past month. Recently, BONK has integrated with Bravo Ready games and reached a daily revenue of $ 1.72 M. For a few days this month as well, it was considered the most bought project by smart money, though technical analysis reveals some conflicting points. I simiply believe $BONK is going to make MASSIVE new highs this year Best Solana beta + most cracked marketing team + huge normie appeal My bags are absolutely PACKED pic.twitter.com/jLicOrVAHC — champ (@champtgram) May 28, 2025 There are people like Champ who think there is still “bread” left in the coin. He points out some good fundamentals, too. I would not say my technical analysis is always correct. But I think it is also important to consider multiple scenarios, even if the long-term price is projected to make a new ATH. DISCOVER: Top Solana Meme Coins to Buy in May 2025 BONK Jumping Up Or Plunging Down? Technical Analysis Speaks (BONKUSD) BONK chart on the Weekly timeframe. I’m using 1000BONKUSDT on Bybit for simplicity’s sake. Let’s start with simple moving averages and market structure. We see a massive run at the end of 2023. Most of the 2024 price range was spent, and this year it went below its previous low (orange line), and the last 3 candles were rejected from that level, which aligns with MA50. The two bottoms of this upper range are at the same price of $0.0095. That’s an important support level. DISCOVER: Top 20 Crypto to Buy in May 2025 (BONKUSD) Next, for our analysis, we will look at the Daily timeframe. Here, the BONK price ranges around the Moving Averages. This month, it broke below MA200 and tested its underside twice, both times rejected. For a move to the highs to happen, it must reclaim that level. MA50 and MA100 are potential supports that sit a bit higher that the $0.0095 level. What can be scary (or exciting) to traders is this huge empty space after the massive pump at the end of 2023. Concluding Thoughts on BONK Price Action (BONKUSD) At the end, we will analyse the 4H chart. Here, MA50 and MA100 rejected the price. And is now breaking below MA200. Go back and look at the RSI levels on the previous charts and on this one now. On the Weekly, it looks like it can go either way. It is still in the bullish area daily, but the rejection from MA200 and breaking below it on 4H timeframe could turn out to be a good r:r entry for a short. Even though fundamentals are strong, sometimes price retraces, and it might be time for it with BONK. Stay safe and don’t let other traders get your money! Join The 99Bitcoins News Discord Here For The Latest Market Update Is This The End of BONK? Technical Analysis Gives Warning Signs Price has been in the upper range for a year – can be accumulation or distribution RSI might need to cool down more Potential move down to $0.0095 or lower Needs to reclaim MA200 on 1D for The post Is This The End of BONK? Technical Analysis Gives Warning Signs appeared first on 99Bitcoins.

Currently trading at around ~1.34650, GBP/USD trades 0.32% lower in today’s session. Easing from multi-year highs made last week, cable continues to benefit from robust economic data and underlying dollar weakness. GBP/USD: Key takeaways from today's trading Seeing convincing buying pressure in Friday’s session, GBP/USD recently rallied to highs of 1.35934, a level last seen in early 2022Recently easing from highs, markets now look to reassess rate-cut bets from the Federal Reserve and Bank of England, with BoE Governor Andrew Bailey expected to speak tomorrow GBP/USD gains on US trade-tariff uncertainty With Donald Trump renewing threats of US-EU tariffs over the weekend, continued uncertainty surrounding the US economy and future trade relations continues to weigh negatively on the dollar. First threatening a 50% tariff on EU imports to be imposed June 1st, only to renege days later, frustrations in ongoing negotiations between the US and the European Union regarding trade further general ‘risk-off’ sentiment, and a general cautiousness on world equity markets. The obvious comparison is that, unlike the United Kingdom, the United States has been unable to strike a deal with the European Union, with Trump taking a seemingly less diplomatic approach to negotiations. While a list of trade negotiation deadlines loom, dollar upside is likely to be limited until the picture on global trade becomes clearer and, most importantly, more certain. Better-than-expected retail sales extend GBP/USD gains With last Friday representing cable’s best performance in over three weeks, gaining 0.89%, an unexpected rise in reported retail sales data helped boost cable pricing to three-year highs. Beating expectations by some margin, Friday’s data showed retail sales data rising for the fourth consecutive month, suggesting increasing consumer confidence and somewhat vindicating the current Bank of England strategy on monetary policy. The result has been a remarkable rise in sterling value versus the dollar. US market holiday shines light on anti-dollar sentiment With the US observing Memorial Day on Monday, lower-than-usual trading volumes did not deter GBP/USD from making further gains, ending the day 0.18% higher. In a vacuum, this would suggest that the recent rise in GBP/USD pricing is not dependent on active US market participation, indicating that capital flows outside the US are at least somewhat influencing price action. Markets eye Thursday speech for cues on BoE monetary policy With this trading week noticeably sparse for UK-facing economic events, GBP/USD traders will closely monitor Bank of England commentary, which may suggest their likely next move. While recent rises in retail sales would otherwise encourage the Bank of England to become more dovish, inflation in the United Kingdom remains uncomfortably high at 3.5% year-over-year in April. Writing ahead of BoE Governor Bailey’s speech tomorrow, most predict rates will remain unchanged in the upcoming June decision. close A chart showing the recent price action of GBPUSD. OANDA,TradingView, 28/05/2024 /media/images/GBP-USD-1-28.05.2025.width-1400.png GBP/USD technical analysis In line with Fibonacci retracements, we can expect GBP/USD to find some support at the current price. If price can stage a move upwards, bulls will likely target 1.36405, then 1.36798. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. 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. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

First Majestic Silver (TSX, NYSE: AG) expanded the high-grade mineralization of its Navidad deposit in northwestern Mexico as it announced a second gold-silver discovery in a year in the Santo Niño vein at the nearby Santa Elena mine. Shares rose. Drillhole EWUG-25-050 at Navidad cut 6.8 metres grading 14.8 grams gold per tonne and 642 grams silver from about 703 metres downhole, Vancouver-based First Majestic said Wednesday. That hole included 5.9 metres at 11.1 grams gold and 215 grams silver from a depth of 569 metres. The project is about 150 km northeast of Hermosillo, the capital of the State of Sonora. “In our view, the higher-than-expected grades results obtained in the resource conversion drilling program supports the case and potential for mine life extension and production scalability,” Scotia Capital mining analyst Ovais Habib said in a note. At Santa Elena, one of the company’s four Mexican mines, exploration drilling about 900 metres south of the processing plant also discovered the Santo Niño vein – a large, epithermal quartz-adularia vein hosting gold and silver within a newly identified fault zone. Confirmed mineralization spans more than 600 metres along strike and about 200 metres down dip, and the upside potential is open in multiple directions, First Majestic said. Santo Niño discovery At the Santo Niño vein, hole SE-25-19 drilled a highlight interval of 5.24 metres grading 1.51 grams gold and 81 grams silver from 366.25 metres depth, including 12.34 metres at 1.65 grams gold and 113 grams silver. It also cut 0.43 metres at 27.50 grams gold and 641 grams silver. “The latest intercepts at Navidad and the Santo Nino vein continue to highlight the prospectivity of the land package at the Santa Elena/Ermitaño mine with visibility for resource accretion and mine life extension,” National Bank Financial analyst Don DeMarco said in a note Wednesday. First Majestic rose 0.8% to C$8.61 in Toronto Stock Exchange trading Wednesday morning. That gave the company a market capitalization of about C$4.2 billion. The stock has ranged from C$6.23 to C$11.18 in the past year. Four deposits emerge With the additions of Navidad and Santo Niño, Santa Elena now hosts four significant gold-silver deposits, including Ermitaño and Santo Niño. This underscores the district’s growing potential, First Majestic said. Gold and silver grades at Navidad are substantially higher than those that were reported in the resource estimate released in March. The four deposits “position the company for future resource expansion and operational growth,” Habib said. “Continued exploration success could further enhance the district’s long-term potential, reinforcing Santa Elena’s role as a cornerstone asset.” Nine drill rigs are active at Navidad. Drilling to the east this year has expanded the Winter vein by 175 metres, and the Navidad vein by 325 metres. The combined structure is now 1.3 km along strike and 450 metres down-dip, which the company says confirms both the lateral continuity and the vertical reach of high-grade mineralization. Of the 23 diamond drill core holes completed so far at Santo Niño, 13 returned significant vein-hosted gold and silver mineralization, First Majestic said. Eleven of those intercepts define a continuous, higher-grade zone in the vein’s western upper levels. Santo Niño sits 2.2 km west-northwest of Ermitaño.

US Oil is still in the range established after the first part of May. The commodity prices have been whipsawing throughout the past few weeks. Fears from higher supply have been priced in which can be observed as prices are consolidating - The prices are bouncing sharply from every retest of the mid-month lows. WTI is currently up 1.24% on the day, trading at 62.20. Dive into a technical analysis comprising the 1H timeframe and a look on the Daily picture. US Oil Hourly Chart Analysis close US Oil Hourly Chart, May 28 2025. Source: TradingView /media/images/Screenshot_2025-05-28_at_10.59.04AM.width-1400.png Oil has been in a fairly volatile range, as prices have been bouncing between 60.5 to 64. In the current state, Markets are waiting for further news before taking on a further direction. Rising Crude Oil inventories and OPEC+ announcements fail to move prices below May lows showing at 58.81. You can read more details on supply from last Friday's USOIL analysis. A failure to break the 60.5 support confirm that prices are consolidating, as we are now approaching the 62.38 Pivot level - which coincides with the middle of the range described earlier. Key Levels on the 1H Chart Support 1: 61.65 Support 2: 61.30 Support 3: 60.5 (Low of the Range) Immediate Resistance: 62.38 (Middle of the Channel) Resistance 2: 63.00 Resistance 3: 63.55 Resistance 4: 64.00 (High of the Range) Taking a Step Back - US Oil Daily Timeframe close US Oil Daily Chart, May 28 2025. Source: TradingView /media/images/Screenshot_2025-05-28_at_11.23.36AM.width-1400.png Prices have formed a double-bottom after breaking down from the descending channel that was formed throughout the beginning of 2025. Since the Beginning of May, priced have bounced more than 11% from a low of 55.81. Having reintegrated the channel, prices are now looking at the Daily MA 50 situated at 63.43. A breakout from the shorter timeframe range, above the 50-period Moving Average, would point towards 66.50, the highs of the channel. The lows of the channel are marked at 59.25. Safe Trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. 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. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

The euro is showing little movement on Wednesday. In the North American session, EUR/USD is trading at 1.1303, down 0.23% on the day. Eurozone near-term inflation expectations rise Eurozone consumer inflation expectations rose in April to 3.1% over the next year, up from 2.9% in March. Inflation expectations for three and five years were unchanged, at 2.5% and 2.1%, respectively. Inflation expectations are carefully monitored by the European Central Bank as expectations that inflation will accelerate can manifest into higher inflation. Still, the reading is not expected to change any minds at the ECB, which is widely expected to lower rates by a quarter-point next week. The ECB has been aggressive in its easing cycle, chopping rates by 225 points since last June and lowering the deposit rate to 2.25%. The ECB is expected to trim rates by a quarter-point at next week's meeting, based on projections that inflation is expected to ease due to a weak economic growth, lower energy costs and weak wage growth. Federal Reserve minutes likely to stress "wait-and-see" stanceThe Federal Reserve will release the minutes of its May 7 meeting later today. At the meeting, the Fed signaled that it wasn't planning to lower rates anytime soon and the minutes are expected to confirm the Fed's wait-and-see stance. US President Trump has been zig-zagging on trade policy, imposing and then cancelling tariffs on China and the European Union. Fed Chair Powell said at the May meeting that the economic uncertainty due to tariffs means that the appropriate rate path is unclear and that message could be reiterated in the Fed minutes. US President Trump's erratic trade policy was on full display over the weekend. On Friday, Trump threatened a 50% tariff on all European Union goods effective June 1, but reversed that decision two days later, saying the tariffs would be delayed until July 9. Trump's unpredictability has made it difficult for ECB policymakers to make growth and inflation forecasts due to the economic uncertainty. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. 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. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

Gold’s monumental rally in recent months is far from over, as the precious metal continues to play an instrumental role in today’s financial landscape, according to Cam Currie, senior investment advisor at Canaccord Genuity’s Currie Metals & Mining Group. In an interview on The Northern Miner Podcast with host Adrian Pocobelli, Currie shared his bullish outlook on precious metals, emphasized the strength of mid-tier miners, and unpacked how global debt and monetary shifts are reshaping the role of gold in institutional portfolios. Gold in a new paradigm Currie believes gold’s breakout to all-time highs in recent months is only the beginning of a longer-term structural move. “We’ve seen a tectonic shift,” he said, pointing to how central banks, especially outside the US, are reallocating reserves away from US Treasuries and toward gold. “There’s $300 trillion in global debt,” Currie warned. “Gold has no debt, no political baggage, and no printing press behind it.” He also highlighted the upcoming implementation of Basel III regulations in July, which will classify gold as a Tier 1 asset—putting it on par with sovereign debt for reserve purposes. “That’s a game-changer,” said Currie. “Once gold is accepted as collateral, it unlocks a lot of institutional interest.” Mid-tier miners in sweet spot With gold’s momentum rising, Currie sees particular value in the mid-tiers and developers in the mining sector. “These companies are generating strong cash flows, have little or no debt, and are trading at steep discounts to their net asset value,” he said. At Canaccord’s recent mining conference in Nevada, Currie noted that many management teams are focused on discipline: paying down debt, initiating dividends, and preparing for index inclusion. “As more ETFs include these names, we expect a re-rating,” he added. He also flagged that some of the sector’s strongest performers have not been the household names. “Newmont and Barrick are still the poster children in the US, but the best performers have been Agnico Eagle, Kinross and Lundin Gold,” Currie noted. Silver, copper offer further upside While gold is leading the rally, Currie also sees silver as a compelling play, calling it “the poor man’s gold.” With silver lagging gold and trading at over 100-to-1 on a price ratio basis, he expects it to catch up. “Historically, that ratio moves toward 60-to-1 or even 50-to-1,” he said. Currie is also bullish on copper in the long term, though he expressed some caution in the near term due to macroeconomic risks. “We’re still in the recession camp,” he said, referencing weak industrial demand and geopolitical tensions. But looking ahead, he cited electrification, AI infrastructure, and the lack of new mines as long-term drivers. “There’s a real supply problem coming.” Digital gold a breakout catalyst Currie also revealed that the World Gold Council is progressing with its long-discussed blockchain-based gold product—a digital, traceable, vault-backed version of the metal. “They’re starting to float marketing campaigns,” he said. “It’s coming.” He believes this initiative could bring a new generation of investors into the space. “Bitcoin is being called digital gold. But now we’re about to get actual gold in digital form—with full title and backing. It’s going to shift the narrative in a huge way.” Institutional awakening to come Despite gold’s record highs, Currie observed that institutional interest remains muted. “Only 1% of US family offices have gold in their portfolios,” he noted. He attributes this to a mindset rooted in the dollar exceptionalism and the dominance of equity and tech investing. However, as bond markets show strain and long rates rise—without the US dollar strengthening—he believes that narrative is beginning to shift. “We’re on a new trajectory with gold,” Currie said. “This freighter has turned, and it’s going to keep going for a long time.”

Can You Time Month-End Forex Rebalancing Flows? Understanding FX Hedging and Dollar Demand Every month, as the calendar approaches its final days, professional forex traders and global asset managers pay close attention to potential month-end rebalancing flows. Driven largely by movements in equity market, especially U.S. stocks, these flows can influence currency markets in ways that create both opportunity and risk. But the key question remains: Can you actually time these month-end forex rebalancing flows? How Equity Performance Drives Forex Rebalancing When U.S. equities rise or fall during the month, institutional investors such as pension funds, sovereign wealth funds, global asset managers and index fund managers adjust their currency hedges accordingly. These investors typically hedge against currency risk, especially when investing in foreign assets. Here’s how it works: • If U.S. stocks rise, the value of foreign investors’ portfolios (in dollars) increases, so they must sell dollars to stay fully hedged. • If U.S. stocks fall, those investors are overhedged and need to buy back dollars to rebalance their hedge. Example: German Fund Manager 1. Portfolio rises from $1,000,000 to $1,100,000 o $100,000 becomes unhedged. o Action: Sell USD / Buy EUR to restore hedge. 2. Portfolio falls from $1,000,000 to $900,000 o Hedge is now too large. o Action: Buy USD / Sell EUR to reduce exposure. This is simple math but doesn’t help much with timing of such flows, which remains highly uncertain. May 2025: U.S. Equity Performance Signals Dollar Selling As of May 27, the U.S. stock market has seen robust gains: • S&P 500: 5,569 → 5,921 (+6.3%) • Dow Jones: 40,669 → 42,343 (+4.1%) • Nasdaq Composite: 17,446 → 19,199 (+10.0%) US500 (SP500) Daily Chart US30 (DJIA) Daily Chart NAS100 (NASDAQ) Daily Chart Such strong performance suggests that many foreign investors will need to sell dollars to rebalance their currency hedges by month-end. When Do Rebalancing Flows Hit the Market? There’s no set rule for when these flows occur although logic suggests they might start 2 days before (spot date) through the 4 PM London month end fix. When thinking about month end currency rebalancing, attention is usually on the 4 PM London fix, where such orders are clustered but as noted they can occur at any time. While not privy to the flows, logic says they likely occur the closer it gets to month end (e.g. day before or on month end day). Leading Up to the 4PM London Fix The 4PM London fix is a widely used benchmark for month-end currency valuations. While some orders are executed exactly at this fix, others may be: • Executed in advance to avoid thin liquidity or high volatility as the 4PM London fix time approaches • Scaled into the market at month end or over a few days before month-end • Delayed until the fix to accurately reflect Net Asset Value (NAV) Note: Bank traders used to share and front-run these orders, but regulators have largely cracked down on this practice. Why It’s Hard to Time Currency Rebalancing Flows Traders outside the institutional network face a significant challenge. Without direct insight into the size, direction, or execution strategy of rebalancing flows, timing them is guesswork, making it hard to game the event. Still, being aware of which direction the flow likely favors (e.g., dollar selling in May 2025) provides valuable information. Key Factors to Consider: • Are US equities out or underperforming those in other countries as that can have an impact on net currency rebalancing. • Current technical picture will give a clue what side of the market can more readily (or not) absorb the flows • Any news that would counter the forex rebalancing the flows Tips for Traders: Navigating Month-End FX Volatility • Be alert to sudden forex moves 1–2 days before and during month-end. • Watch the lead-up to the 4PM London fix for increased volatility. • Look for bank research on expected month end rebalancing flows by currency and volume. • Understand that some erratic spikes, especially around the London fix, may present opportunities to fade. The Bottom Line: Be Aware, Not Predictive You don’t need to be a fortune teller to benefit from month-end forex flows but you do need to be aware. Trying to front-run or predict exact timing is risky, but knowing that flows, for example, likely favor dollar selling at the end of May 2025 can help shape your strategy or at least keep you on alert. The bottom line is the period just before and into month end is not always a typical one, depending on how equities performed during the month. You would need a crystal ball to identify the timing of such orders but just knowing what side it favors can be useful information. Personally, I am on alert for any sudden forex moves but most of my attention in this regard is focused on the lead up and just after the 4PM London fix which often offer opportunities to trade (mainly fade) any erratic swings. Remember, this is not an exact science but understanding rebalancing flows can provide valuable information and a clue to explain price action around month end, especially when taken in context of the overall technical picture in any currency (e.g. a fall in the USD could be easily explained while a firmer USD would suggest there is more going on besides rebalancing). . Get a FREE Trial of The Amazing Trader – Click HERE

Perpetua Resources (NASDAQ: PPTA) (TSX: PPTA) announced Wednesday it has won up to $6.9 million in funding from the US Army via the Defense Ordnance Technology Consortium (DOTC) to support the development of its Stibnite antimony-gold project in Idaho. This additional funding, awarded under an ordnance technology initiative agreement (OTIA) from August 2023, builds on the $15.5 million already awarded to the company by the DOTC, Perpetua said. According to the Boise, Idaho-headquartered miner, the funding will be used for testing intended to demonstrate the feasibility of using material sourced from the Stibnite project to produce military-specification antimony trisulfide, a critical component in certain munitions and advanced defense systems. The OTIA is intended to fund the development and delivery of a flexible, modular pilot plant to the US Army to process antimony and other materials of Department of Defense interest. The additional funding would enable Perpetua to expand material sampling and increase the scope and size of the pilot plant, the company said. “We are honored to continue our work with the US Army to secure a domestic source of antimony trisulfide,” CEO Jon Cherry said in a press release. “Advancing America’s capabilities to process minerals critical to national defense is essential for our long-term mineral independence and resilience.” Despite the funding, shares of Perpetua Resources traded 1.1% lower at C$19.47 apiece by 10:30 a.m. ET, for a market capitalization of C$1.4 billion ($1.01bn). Only known US antimony reserve The Stibnite project currently holds the only identified reserve of antimony in the US. At an estimated 148 million lb., it represents one of the largest antimony reserves outside of Chinese control. How a gold-stibnite restoration in Idaho could add antimony to US supply chain Once built, the mine is expected to supply up to 35% of America’s antimony needs during its first six years of operations, based on the 2023 USGS commodity summary. A 2021 feasibility study projects its total antimony production to be 115 million lb. over an estimated 15-year mine life. The US currently produces no antimony and relies largely on China, which accounted for 60% of globally mined antimony in 2024. Due to its strategic importance to the US, Stibnite was recently placed on the initial list of 10 projects selected by the newly formed National Energy Dominance Council for fast-tracked permitting. Last week, the $1.3 billion project received its final federal permit. In addition to antimony, the project is expected to produce a significant amount of gold, totalling 4.2 million oz. during its mine life.

Bullish animal spirits have roared back into the US stock market, reignited by the recent US-China trade tension truce, which led to a 90-day pause in lowered tariffs between the two superpower nations, with an expiration date set on 10 August 2025. Key takeaways The 90-day US-China trade truce, ending August 10, 2025, reduces tariffs and lifts investor sentiment, pushing the Nasdaq 100 higher.Q1 Nvidia earnings are expected to show a 52% EPS jump, fuelling tech optimism and supporting the Nasdaq rally.A close above 21,440 key resistance on the Nasdaq 100 could trigger a move toward the 22,470–22,980 zone.Watch 20,340 key support for the Nasdaq 100 and 124.90 key support for Nvidia to maintain the bullish trend.Meanwhile, US President Trump has dialled back his hawkish rhetoric on tariffs against the European Union (EU), extending the deadline for imposing 50% duties on all EU imports to 9 July from an earlier threat of 1 June. The rebound in risk appetite and diminished expectations of a stagflation drove the major US stock indices above US President Trump’s 2 April “Liberation Day” levels. Significant rallies in the mega-cap technology stocks put the Nasdaq 100 back into a bull market. It surged by 29% from its 7 April low to Tuesday, 29 May’s closing level, just a month after it plummeted by -25% from its 19 February all-time high. Bullish breakout in Nvidia suggests a fresh impulsive up move close Fig 1: Nvidia medium-term trend as of 28 May 2025 (Source: TradingView) /media/images/NVDA_2025-05-28_21-45-58.width-1400.png Nvidia, the second-largest market-cap component stock in the Nasdaq 100, is set to report its first-quarter earnings results after the close of today’s US session, 28 May. A rosy beat is expected, where the consensus is expecting a significant jump of 52% in earnings per share to US$0.93 from US$0.61 (Q1 2024), according to data compiled by Trading Economics, suggesting resilient demand for Artificial Intelligence (AI) related GPU chips despite a potential bleak global economic growth prospect due to the uncertainties from US trade tariffs. The technical chart of Nvidia suggests that its price actions are set to potentially retest its current all-time high level printed on 7 January, with its first medium-term resistance at 148.77, and a break above it sees 158.30 (Fibonacci extension cluster) next. Key medium-term support rests at 124.90 (also the 20-day and 200-day moving averages). Two key bullish elements. Firstly, the rising daily Chaikin Money Flow (CMF) indicator above 0.17, which suggests a bullish momentum condition with an expansion in volume. Secondly, the ratio chart of Nvidia/Nasdaq 100 is advocating further Nvidia’s outperformance over Nasdaq 100 as it inches higher above its 50-day moving average since 7 May (see Fig 1). All in all, these observations suggest that a positive development in Nvidia’s technical chart may see a positive feedback loop into the price actions of the Nasdaq 100. Impending potential bullish breakout above 21,440 for the Nasdaq 100 close Fig 2: US Nasdaq 100 CFD Index medium-term trend as of 28 May 2025 (Source: TradingView) /media/images/NAS100USD_2025-05-28_22-01-54.width-1400.png Since 15 May 2025, the price actions of the Nasdaq 100 CFD Index (a proxy of the Nasdaq 100 E-mini futures) have faced a “stubborn” intermediate resistance at the 21,440. However, two technical factors are now supporting a potential bullish breakout above 21,440 (finally) as Nvidia’s earnings announcement looms after the closing bell today, 28 May. Market breadth conditions have improved significantly since 12 May, as the percentage of Nasdaq 100 component stocks trading above their respective key 200-day moving averages has risen to 61% as of Tuesday, 27 May, from 44% printed on 6 May (see Fig 2). The daily RSI momentum indicator has inched higher steadily and has not reached an extreme overbought level of 78 and above, which suggests the medium-term upside momentum remains intact. Watch the key 20,340 key medium-term pivotal support (also the 200-day moving average), and a clearance above 21,440 sees the next medium-term resistance coming in at 22,470/22,980. On the other hand, failure to hold at 20,340 key support for the Nasdaq 100 CFD Index invalidates the bullish scenario to kickstart another corrective decline sequence to expose the next medium-term supports at 19,760 and 19,240 within its major uptrend phase. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. 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. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

On 28 May 2025, popular American video game and electronics retailer GameStop confirmed the purchase of 4710 Bitcoins through a post on X. The company’s first crypto investment, especially after Bitcoin’s recent ATH, is worth over $512 million. The move comes after GameStop’s board unanimously approved an update to its investment policy to add BTC as a treasury-reserve asset in February 2025. On 26 March 2025, the company stated its intention to use its $1.3 billion in private offering of convertible senior notes (that can later be swapped for company stock) “for general corporate purposes, including the acquisition of Bitcoin in a manner consistent with GameStop’s Investment Policy.” $GME This 4,710 Bitcoin purchase make GameStop the 13th public company with the most Bitcoin in the world. pic.twitter.com/Y41uXV7bsZ — Han Akamatsu 赤松 (@Han_Akamatsu) May 28, 2025 Explore: Is GameStop the New Strategy? GME BTC Reserve Details Drop GameStop CEO Ryan Cohen Follows In Michael Saylor’s Footsteps The market reacted positively as GameStop shares surged 4.3% in premarket trading. Currently GME is trading at $36.52. GameStop CEO Ryan Cohen is known to be a pro-Bitcoin head. Following in the footsteps of Strategy’s Michael Saylor, Cohen also shared a picture with him in February 2025. Saylor bought billions worth of BTC. The most recent update, on 1 May 2025, is that Saylor has acquired 15,355 Bitcoins worth over $1.4 billion. Strategy is likely to continue buying more BTC, funded through a mix of Class A and Series A preferred share offerings. With over 553,000 BTC under control, Strategy’s purchase underscores its strong conviction in Bitcoin and belief that it will rally in the coming years. NEW: Michael Saylor met with GameStop CEO Ryan Cohen last night #Bitcoin pic.twitter.com/YkSDDXBNJ7 — Bitcoin Magazine (@BitcoinMagazine) February 8, 2025 GAMESTOP CEO RYAN COHEN: “I like looking where no one else is. That’s where the best opportunities are.” And you still think he’s not stacking Bitcoin? pic.twitter.com/43axRAf4J5 — Simply Bitcoin (@SimplyBitcoinTV) May 22, 2025 DISCOVER: 7 High-Risk High-Reward Cryptos for 2025 Key Takeaways GameStop confirmed the purchase of 4710 Bitcoins worth over half a billion, through a post on X, The market reacted positively as GameStop shares surged 4.3% in premarket trading. Currently GME is trading at $36.52. The post GameStop Confirms Purchase of 4710 Bitcoins Worth Over Half a Billion appeared first on 99Bitcoins.

The global diamond industry is undergoing a rapid and unprecedented collapse, according to tech entrepreneur and academic Leanne Kemp, though some industry analysts argue that while the downturn is severe, it is not terminal. Plunging revenues, halted operations and growing doubts about diamonds’ cultural and economic relevance are just some of the symptoms cited by Kemp, who insists the industry isn’t just slumping. She said it’s “disassembling”. The past quarter has laid bare the severity of the crisis. Anglo American’s (LON: AAL) De Beers, the world’s largest diamond producer by value, saw a 44% revenue drop and is sitting on $2 billion worth of unsold stock. The company plans to cut over 1,000 jobs at its Debswana joint venture, according to the mine workers union, even though the operation is the backbone of Botswana’s economy. Russia’s Alrosa, under heavy sanctions, reported a 77% plunge in profits and halted operations at key mining sites. Petra Diamonds (LON: PDL), battered by a 30% decline in sales, lost its CEO and has now two people in that position while it sells off assets to stay afloat. Lucapa (ASX:LOM) in Australia entered voluntary administration last week, while Sierra Leone’s Koidu Limited shuttered operations and laid off more than 1,000 employees after losing $16 million to labour strikes. Even Lucara (TSX: LUC), which operates in both Botswana and Canada, is now facing a “going concern” warning, despite continued investment in its Karowe mine and production records. “These are not isolated events. They are symptoms of an industry whose cost structures, cultural relevance, and geopolitical foundations are no longer fit for the moment, Kemp writes. The entrepreneur notes the diamond’s traditional narrative of permanence, romance and rarity no longer resonates in a world that demands ethical sourcing, sustainability, and transparency. But not everyone sees an existential threat. Industry analyst Paul Zimnisky offers a more tempered view. “This has been a painful period, especially over the past three years,” he told MINING.COM. He attributes much of the downturn to a post-covid demand correction after record sales in 2021 and 2022, a luxury recession in China, and the disruptive rise of lab-grown diamonds. Zimnisky argues the easing of these pressures could return the sector to growth. Still, he acknowledges that the industry’s fate hinges on its ability to rekindle desire for natural diamonds. “If the industry gets lethargic and loses its way on the marketing front, all bets are off,” he warned. For ever? The spotlight now falls on De Beers. Once synonymous with manufactured scarcity and aggressive branding, the company is up for sale. Anglo American has cut its valuation by $4.5 billion in just over a year, and no buyers have emerged. Earlier this month, De Beers announced it would shut down its lab-grown diamond jewellery brand, Lightbox, signalling a return to its roots and a renewed focus on natural diamonds, which inspired the iconic “Diamonds are Forever” slogan. The move marks an effort to reposition the company amid growing pressure on the industry. Kemp believes the future of diamonds lies in verifiable origin and ethical narratives, not in nostalgia. Zimnisky, while optimistic about De Beers’ future under new ownership, agrees that the cultural meaning of diamonds is shifting. “There are constantly changing cultural norms and behaviours,” he noted. Fresh campaigns are targeting Zillennials, the microgeneration born between 1993 and 1998. (Image courtesy of De Beers.) Some have proposed repositioning diamonds as stable, tradable assets. But Zimnisky is sceptical. “Diamonds are not fungible like gold,” he said. “There’s more friction in secondary trading. Still, the rarest and highest quality stones will continue to be seen as stores of value.” For economies “sensitive” to changes in the diamond market, such as Botswana, Canada, Namibia, Angola and Russia, the stakes are high, says Zimnisky. He notes the lesson of recent years is clear: storytelling and marketing are now critical. “This is a luxury product — it needs to be merchandised as such. All stakeholders must contribute to shaping the message.” The old era of diamonds, rooted in mystique and monopolies, is ending. What comes next must be leaner, more transparent, and grounded in today’s values. The glitter hasn’t gone, but it needs a new reason to shine.

The Australian dollar has extended its losses on Wednesday. AUD/USD is trading at 0.6415 in the North American session, down 0.44% on the day. Australia's CPI remains at 2.4% Australia's inflation rate remained unchanged in April at 2.4% y/y for a third straight month, matching the lowest rate since Nov. 2024. The reading was slightly higher than the market estimate of 2.3% but remained within the central bank's inflation target of 2%-3%. Trimmed mean inflation, the central bank's preferred indicator for underlying inflation, edged up to 2.8% from 2.7% in March. The inflation report was mildly disappointing in that inflation was hotter than expected. Underlying inflation has proven to be persistent which could see the Reserve Bank of Australia delay any rate cuts. The markets have responded by lowering the probability of a rate cut in July to 62%, compared to 78% a day ago, according to the ASX RBA rate tracker. A key factor in the July decision will be the second-quarter inflation report in late July, ahead of the August meeting. The Reserve Bank lowered rates last week by a quarter-point to 3.85%, a two-year low. The central bank left the door open to further cuts, as global trade uncertainties are expected to lower domestic growth and inflation. Federal Reserve minutes likely to highlight uncertainty The Federal Reserve releases the minutes of its May 7 meeting later today. At the meeting, the Fed stressed that it wasn't planning to lower rates anytime soon and the minutes are expected to confirm the Fed's wait-and-see stance. US President Trump has been zig-zagging on trade policy, imposing and then cancelling tariffs on China and the European Union. Fed Chair Powell said at the May meeting that the economic uncertainty due to tariffs means that the appropriate rate path is unclear and that message could be reiterated in the Fed minutes. AUD/USD Technical AUD/USD is testing support at 0.6417. Below, there is support at 0.6393There is resistance at 0.6460 and 0.6480 close AUDUSD 1-Day Chart, May 28, 2025 /media/images/AUDUSD_2025-05-28_16-58-30.width-1400.png Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. 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. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

Trump Media stock ($DJT) is no longer just chasing clicks from the MAGA faithful; it is now a stock with teeth, sniffing blood in the Bitcoin pool. The company announced a $2.5 billion capital injection led by institutional investors, with plans to park a major portion in Bitcoin—a corporate treasury play that mirrors stocks like MicroStrategy and Tesla. (DJT) Exploring Trump Media’s Stock Performance Roughly 50 institutional players are backing Trump Media’s $2.5 billion push, split between stock and convertible debt. The goal: stack Bitcoin at scale. It’s earmarked for one of the most aggressive Bitcoin treasury moves to date. Anchorage Digital and Crypto.com will handle custody. Devin Nunes, Trump Media’s CEO, called bitcoin an “apex instrument of financial freedom,” stating: “This is the first of many ‘crown jewel’ acquisitions we’ll pursue.” BREAKING: Devin Nunes, CEO and Chairman of Trump Media, stated, “We consider Bitcoin the ultimate symbol of financial liberty, and moving forward, Trump Media will integrate cryptocurrency as a key component of our asset portfolio.” pic.twitter.com/ESutqRdhMp — Watcher Oracle (@WatcherOracle) May 28, 2025 Nunes emphasized that holding bitcoin gives the company a defensive tool against “discrimination by financial institutions” targeting conservative businesses. Key Technical Analysis of Trump Media’s Stock: Despite the high-profile announcement, Trump Media’s stock remains volatile. Shares saw a sharp drop of 10% following the news and are down 30% year-to-date. Here’s what the TA looks like for DJT: Support Levels: Strong support zones lie between $23.20 and $23.60, with deeper support at $22.00. Resistance: The first major resistance sits at $24.50, followed by $25.75 near the 200-day SMA. Moving Averages: A bearish death cross has formed, with the 20 SMA at $23.52 and the 200 SMA at $24.31. Personally I am not bullish $djt but for some reason sentimental reason maga supporters are bullish I believe $13 is an ideal buy zone pic.twitter.com/V8Y8BQyzy8 — Rice cooker (@anytimeFXmetal) May 27, 2025 99Bitcoins analysts are watching for a potential recovery if shares can reclaim the $24.50–$25.00 range. While short-term trends lean bearish, a rounded bottom is forming hinting at stable prices soon. Spotlight on the Bitcoin 2025 Conference Another flashpoint is the Bitcoin 2025 conference, which we are attending by the way, come say hi! — and where the Trump administration is doubling down on its crypto-friendly image. The speaker list reads like a GOP-crypto crossover special—Vice President JD Vance, Donald Trump Jr., Eric Trump, and MicroStrategy’s Michael Saylor are all slated to take the stage starting with JD today. “Vice President JD Vance keynote confirmed on May 28 at 9:00 AM,” announced organizers. Despite efforts to rebrand Bitcoin as politically neutral, crypto in 2025 remains tethered to the GOP, cemented by Trump Media’s $2.5 billion war chest and a conference lineup straight from conservative central casting. EXPLORE: XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Trump Media stock ($DJT) is no longer just chasing clicks from the MAGA faithful; it is now a stock with teeth, sniffing blood in the Bitcoin pool. Another flashpoint is the 2025 BTC conference where the Trump administration is doubling down on its crypto-friendly image. The post Will Trump Media Stock Join Crypto Stock Winners After Bitcoin Treasury Move? appeared first on 99Bitcoins.

Adaptive Trade Precision with ForexIGO’s Momentum Tracker Adaptive Trade Precision with ForexIGO’s ForexIGO, an automated trading software developed for MetaTrader 4 (MT4), is designed to give traders an edge in two of the most actively traded markets: Gold (XAU/USD) and GBP/USD. Built for precision and discipline, it leverages momentum-based logic to detect trading opportunities as they form, not after they’ve passed. With built-in flexibility and structured automation, ForexIGO aims to bridge the gap between human decision-making and rule-based trading systems. It delivers a consistent and adaptive solution for volatile markets, making it a reliable tool for both seasoned traders and those exploring algorithmic tools for the first time. Overcoming the Lag: The Problem with Traditional Indicators Most indicators react, not predict. By the time an RSI dips or a moving average crossover, the real momentum’s already moved on. When timing slips, so does your competitive edge, others will capitalize first. ForexIGO solves this with a smarter approach. Instead of waiting around for lagging signals, its system responds to momentum shifts as they’re forming. Traders aren’t chasing moves, they’re positioned ahead of them. That edge is critical in fast-moving markets like Gold and GBP/USD, where precision timing isn’t optional, but essential. Momentum-Based Logic: A Smarter Trading Framework Momentum is central to ForexIGO’s strategy, but it’s how the system uses it that sets it apart. The bot combines oscillators, moving averages, and price action cues to detect shifts in buying and selling pressure before they’re obvious to the rest of the market. These signals are layered with candlestick pattern recognition to anticipate when trends are gaining strength or losing steam. Unlike manual trading, which leans on gut feel or delayed reactions, ForexIGO sticks to predefined logic, removing subjectivity and tightening execution. Its structure mirrors core principles of algorithmic trading, like volatility tracking and dynamic level mapping, but delivers it in a clean, accessible way. You get disciplined, reliable automation, without drowning in complexity or giving up control. Smart Execution: Pattern Recognition and Recovery Logic Building on its momentum logic, ForexIGO applies candlestick pattern recognition to read market context more precisely. This added layer helps the system avoid common traps like false breakouts, whipsaws, or exhaustion spikes-situations where many strategies falter. By factoring in how price behaves, not just where it moves, it strengthens its timing and trade quality. When a trade doesn’t move immediately in the expected direction, the system employs a light martingale strategy. It increases position size in controlled steps, always within limits set by the user, to recover from minor losses and turn the trade around. Unlike old-school martingale systems that double down blindly, this one is smart, calculated, and built with risk in mind. It’s part of a broader automated risk management framework focused on capital protection. All trades are executed with tight parameters, and users can customize stop-loss levels, take- profits, and lot sizing according to their preferred risk profile. The result? A system that adapts to the market, but also adapts to the trader. Emotion-Free, Consistent Trading Emotion wrecks more trades than bad strategy ever will. Hesitation, revenge trades, second- guessing, they’re all killers. ForexIGO cuts that out completely. It runs on rules, not feelings. Entries and exits are executed when the setup is right, not when nerves say go. There’s no guesswork, no hesitation, just clean, consistent execution backed by momentum logic. It hits the trigger when conditions align, not when fear or greed gets loud. For traders who want discipline without micromanaging every move, this is how you stay sharp in fast markets. FAQs 1. Is ForexIGO beginner-friendly? Yes, ForexIGO is designed to be accessible for both new and experienced traders. The setup is straightforward, and the interface integrates directly into MT4 for ease of use. 2. How flexible is the strategy? Absolutely. Users can adjust key parameters such as risk levels, lot sizes, trading sessions, and martingale steps. This ensures that the bot can fit your unique trading preferences. 3. Which pairs can I trade with ForexIGO? ForexIGO is optimized for XAU/USD (Gold) and GBP/USD, with logic specifically tuned for those instruments. 4. How does the bot handle risk? The bot uses a built-in risk management module with adjustable limits. Stop-loss levels, trailing stops, and capital exposure rules can be defined by the user. 5. Does ForexIGO run 24/5? Yes, as long as your MT4 terminal is connected and your VPS or computer is online, ForexIGO will scan the markets and execute trades based on its strategy parameters. About ForexIGO https://forexigo.com ForexIGO is an advanced trading solution engineered for traders who want structured, rule- based performance in volatile markets. Designed for MT4, it combines momentum trading strategies, candlestick pattern logic, and practical recovery mechanisms in one seamless package. You can use it to enhance a manual strategy or make the shift toward full automation. ForexIGO supports both with structure and control.

Valterra Platinum (JSE: VAL), formerly Anglo American Platinum (Amplats), began trading as a standalone entity on the Johannesburg Stock Exchange on Wednesday, marking the official demerger from parent company Anglo American. The miner, the world’s biggest producer of the precious metal by value, will also have a secondary listing on the London Stock Exchange from next Monday. The move is part of Anglo American’s (LON: ALL) broader restructuring strategy, announced last year to counter a $49 billion takeover bid from BHP (ASX: BHP). Anglo America is now focused on iron ore and copper, after receiving a substantial dividend from its platinum subsidiary before the split. Valterra’s debut on the JSE was marked by volatility, with shares opening lower before reversing course. The stock opened at 712.58 Rand ($37.8) and was last trading at 738.54 Rand ($39.2) as of 2 PM local time. The spinoff closes a chapter spanning over two decades in which platinum-group metals (PGMs)—including palladium, rhodium and iridium—powered both Anglo American’s growth and South Africa’s mining economy, overtaking gold as the country’s primary mineral exports. Growing pains Valterra steps into independence amid serious headwinds. Prices for key PGMs have slumped since early 2023, with palladium down 43% and rhodium plunging by 56%. That’s a sharp reversal from the record profits South African PGM miners posted just a few years ago. “I fundamentally believe PGM prices should be higher than where they are today, just given the deficits we see within the market and a positive outlook for PGMs given the changes in the nature of the energy transition,” Valterra chief executive officer Craig Miller said in a Bloomberg television interview Wednesday. A recent UBS report warned Valterra is expected to enter net debt of R8.4 billion by the end of June due to demerger costs and lost output following severe floods in February. Production at the Tumela mine in Limpopo province was suspended that month after heavy rains disabled the site’s pumping systems. Miller said Tumela is expected to resume operations by mid-year. Despite the setbacks, Miller remains optimistic. “We’ll have a really good second half. We’ve had a reasonable first half, but it’s had its challenges,” he said on the sidelines of the JSE. Chief executive officer Craig Miller. (Image courtesy of Valterra Platinum.) Analysts are also cautiously optimistic, citing signs of a recovery in platinum prices and solid demand from the jewellery and automotive sectors following recent industry events in London. To ease investor concerns about post-spinoff instability (or “flowback”), Anglo will retain a 19.9% stake in Valterra for now. The London listing is also intended to broaden the company’s investor base and maintain liquidity. Valterra is now the world’s fourth-largest platinum miner. Its launch adds momentum to Anglo’s wider asset reshuffle, which includes selling its coking coal operations in Australia, offloading nickel mines in Brazil, and evaluating options for its struggling De Beers diamond division. Still, uncertainty lingers. Some investors believe if Anglo’s valuation doesn’t significantly improve, the company could face renewed takeover interest. “The spin-off of Valterra removes the key hurdle and increases the probability of another M&A approach,” UBS analysts said in a research note on May 21. “The potential for M&A increases further as or when Anglo exits De Beers.”

Overview: The US dollar is mostly softer today against the G10 currencies. Ironically, the New Zealand dollar is the strongest following the widely expected quarter-point cut by the central bank. The Canadian dollar is the laggard, the only G10 currency not to have found traction against the greenback. Most emerging market currencies are also enjoying a firm tone, including the South Korean won, ahead of what is expected to be a quarter-point cut from its central bank tomorrow. Despite the strong gains in US equities yesterday, most of the Asia Pacific equity markets fell today. Taiwan, South Korea, and Singapore bucked the trend. Europe's Stoxx 600 is given back most of yesterday's 0.33% gain, while US index futures are also trading lower. Bond markets are also under pressure. Japan's 40-year bond auction saw its weakest reception in nearly a year and yields across the curve rose. European 10-year benchmark yield are mostly 2-4 bp higher, though Italian bonds are doing best in the eurozone and are nearly flat. The 10-year US Treasury yield is up nearly three basis points to 4.47%. The US will sell $28 bln two-year floating rate notes and $70 bln five-year notes today, alongside $60 bln four-month bills. After being hit for 1.3% yesterday, gold has returned firmer. It is up nearly 0.75% around $3324 in late European morning turnover. July WTI is trading quietly in a narrow (~$60.85-$61.45) range inside yesterday's (~$60.25-$62.15) range. USD: The initial attempt by North American traders to sell into the dollar's gains in Asia and Europe yesterday found ready buyers in the Dollar Index near 99.20. It was from there that DXY was bid to new session highs close to 99.60 with the help of the rebound in the Conference Board's measure of consumer confidence. It reached slightly above 99.85 in Asia Pacific turnover today, stopping shy of last Friday's high (~99.95). A move above 100.00-100.10 lifts the tone. If Federal Reserve officials are not persuaded that the soft data will necessarily carry into the hard data, today Richmond and Dallas Fed surveys will receive little attention. That said, the oil and gas rig count has fallen for four consecutive weeks through May 23 and at 566, the rigs, it is the lowest since November 2021. The FOMC minutes will likely confirm what officials have subsequently signaled. The central bank is in no hurry to cut rates, the median projection of two rate cuts this year risks being fragmented. EURO: The euro's attempt to recover in early North America yesterday stalled in front of $1.1380 and as European markets were closing for the day, the euro fell to new session lows near $1.1320. It slipped below $1.1300 briefly today, where options for 1.4 bln euros are set to expire today. Important support is seen in the $1.1275-85 area held and the euro recovered to near $1.1340 in Europe. There are also options for nearly 1.3 bln euros at $1.14 that also roll off today. The ECB's inflation forecast surveys are not important in the current context. They were unchanged at 2.5% for the three-year view but rose to 3.1% from and 2.9% for the one-year outlook. Instead, the real story this week is the soft eurozone actual CPI. France reported yesterday. Its EU harmonized year-over-year rate eased to 0.6% from 0.9%. Germany and Spain's May CPI are expected to ease to 2.0%, while Italy's may slip below that threshold when reported at the end of the week, while the aggregate estimate is due next Tuesday. The swaps market is nearly fully discounting an ECB rate cut at next week's June 5 meeting and another cut in early Q4. CNY: Since the dollar reached a record near CNH7.43 against the offshore yuan in early April, it has fallen by about 3.6% to Monday's low of almost CNY7.1615. It reached a three-day high today slightly shy of chart resistance seen near CNH7.2015. Beyond that there may be scope toward CNH7.2100-50. However, the greenback has come off and fell to session lows near CNH7.1860 in early European hours. The PBOC set the dollar's reference rate below CNY7.19 for the third consecutive session but lifted it to CNY7.1894 from CNY7.1876 yesterday and CNY7.1833 on Monday. There are two press reports that are talking points. The first is that China's new five-year plan (to be formally unveiled next March) may double down on economic independence and the import-substitution strategy. Second, reports indicate that the PBOC wants major lenders to raise the share of yuan lending in cross border activity from around 25% to 40%. JPY: The fact that the dollar rallied to almost JPY144.50 and had its best session in two weeks despite the seven basis-point pullback in the US 10-year yield underscores the decoupling that has taken place in recent weeks. In early North American activity, the greenback was sold to around JPY143.85 before setting new session highs. The dollar approached the resistance in the JPY144.60-80 area that houses the (38.2%) retracement of the dollar's decline from the May 12 high (~JPY148.65) and the 20-day moving average. It entered that band today and was repulsed. The dollar was sent back to JPY144.00, where it stabilized in the European morning. It is not clear what the Ministry of Finance will do. It sent out a survey broadly Monday night to market participants about the current market conditions and views on issuance, but today's 40-year bond auction was poorly received (weakest demand since last July). Here is the issue: CPI in April was 3.6%. The 30-year bond yield rose to nearly 3.20% last week and is now a little above 2.90%. The 40-year bond yield is near 3.35%, having reached 3.70% last week. In the near-term, the key may be the price of rice. Koizumi, the new farm minister, appears to be staking his political future on being able to drive the price of rice lower and nearly doubling last month. He has ordered the auction of 300k metric tons of rice from government stockpiles. If he is successful, he may challenge Prime Minister Ishida in the fall, regardless of the outcome of the July upper house elections. Separately, the government indicated it will tap the reserve funds in the current budget and earmark JPY900 bln (~$6.3 bln) to help blunt the effect of the US tariffs. GBP: Sterling set a new three-year high slightly shy of $1.36 on Monday, when the UK and US markets were closed for holidays. It was sold to session lows near midday in NY near $1.3500. It tested support near $1.3460 and recovered back above $1.3500. Resistance in early North American turnover may extend toward $1.3530. The euro fell to a new eight-week low against sterling yesterday, slightly below GBP0.8375, but it looks to be bottoming. A downtrend line comes near GBP0.8425 today and around GBP0.8410 ahead of the weekend. CAD: The US dollar put in a bullish hammer candlestick against the Canadian dollar on Monday after it fell to a new seven-month low (~CAD1.3685). It reached CAD1.3835 yesterday and is consolidating in CAD1.3800-CAD1.3840 range today. Options for $380 mln at CAD1.3830 expire today. A move above there targets CAD1.3870. While the swaps market has about a 1-in-4 chance of a Bank of Canada rate cut next week, economists who submitted their response to Bloomberg this month favor a cut 7-to-4. AUD: The Australian dollar set a six-month high on Monday slightly above $0.6535 and recorded the session low yesterday in North America near $.6435. It found support today near $0.6425 and recovered back to $0.6450 in early European turnover. Australia's April CPI was unchanged at 2.4%. The trimmed mean measure remained stuck in the 2.7%-2.8% band for the fifth consecutive month. The CPI may have been slightly disappointing, but the Reserve Bank of Australia will see the May report before it meets next in early July. The futures market has about a 60% chance of a cut discounted in July (down from around 70% yesterday). There are nearly 70 bp of cuts discounted for this year, which is about five basis points less than yesterday. Still, the RBA is perceived to be the most dovish of the G10 central banks. As widely expected, the Reserve Bank of New Zealand cut its overnight cash target rate by a quarter-point to 3.25%. It has reduced its key rate by 100 bp this year after cutting by 125 bp last year. The swaps market has another cut fully discounted and a little more than a 25% chance of another. MXN: Latam currencies tended to do well yesterday, but the Mexican peso was a laggard and straddled little changed levels most of yesterday's North American session. Still, outside of the beleaguered Argentine peso, which fell nearly 1% yesterday, the Mexican peso was among the worst performers in the region. The greenback extended its gains marginally today to almost MXN19.31. Late today, Mexico's central bank will release its quarterly inflation report. This report takes on special importance give that headline inflation in the first half of May rose about the top of the target range for the first time this year and the core rate it threatening to do the same. Banxico will likely underscore the downside risks to growth and may bring its 0.6% growth projection more in line with the IMF's, which sees a small contraction. In addition to the tariffs and the re-shoring thrust, the US is also challenging Mexico by proposing to tax foreign worker remittances by 3.5% (rather than 5% in the initial draft). In 2024, worker remittances were worth almost $65 bln to Mexico, most coming from the US. While Mexico will cope, several small countries in central America will find it more difficult. Disclaimer

American Tungsten (CSE: TUNG) announced Tuesday it has commenced construction and building work to support exploration and mine planning at its Ima tungsten project in Idaho. The rehabilitation and exploratory review work will enable definition drilling and bulk sampling to support the formation of its mine plan, it said. Ima is a past-producing underground tungsten mine situated on 22 patented claims located in east central Idaho. Between 1945 and 1957, the property produced approximately 199,449 metric ton units of tungsten trioxide (WO3). It was subsequently explored for molybdenum and tungsten by various operators between 1960 and 2008. “The team is excited to have come back from a successful site visit that paves the way to rehabilitation, environmental sampling and stakeholder relations in order to begin plans to bring Ima back to production,” American Tungsten CEO Ali Haji said in a news release. American Tungsten said it has contracted rehabilitation of certain sections of the property’s road, is initiating collection of baseline environmental data and conducting a thorough review on project infrastructure, and continues the digitization of historical exploration information and modeling. “Review and compilation of the historical drilling, sampling and metallurgical testing completed by historical operators has identified multiple drill targets across the property and demonstrated viability of gravity separation of tungsten and sulfide flotation processes,” VP exploration Austin Zinsser said. He added that the team “developed a plan to initiate work where the prior operator left off, with delineation drilling and continued flowsheet development for the vein system on the upper level.” American Tungsten’s Toronto-listed shares were up 7.4% at market close Tuesday. The company has a C$18.6 million ($13.5 million) market capitalization.

BHP (ASX: BHP) announced Tuesday it will establish its first industry AI hub in Singapore to accelerate digital transformation and AI adoption in the mining and resources sector. The hub, the world’s biggest miner said, will focus on solving enterprise-wide challenges using AI technologies to improve safety and lift productivity. Once established this month, the hub of BHP AI specialists will look at further integration of data-driven decisions, intelligence and automation into the company’s core operations. With the support of Enterprise Singapore, and in partnership with AI Singapore (AISG), BHP said it selected Singapore to further develop its AI capabilities for its innovation ecosystem, strong digital infrastructure and alignment with BHP’s ambitions to scale technologies that deliver operational value. The hub will support the growth of BHP’s digital capabilities in Singapore and the region, with plans for a number of AI specialists to lead collaboration between BHP teams and local AI partners to solve business problems. BHP noted it is using AI to make a real-world impact to its operational systems. Three 3 billion litres of water and 118 GWh of energy have been saved since FY22 through AI-powered plant control at its Escondida copper mine in Chile. The hub is intended to create opportunities for collaboration and build capability as BHP works to unlock the potential of AI across its operations, it added. “As BHP accelerates our digital transformation and grows our internal AI capabilities, we see tremendous opportunity to work with AI Singapore and other global leaders to help deliver solutions to complex, enterprise-wide challenges,” BHP chief technical officer Johan van Jaarsveld said in the statement.

Premier David Eby unveils mining investment plan on May 26 in Vancouver. Image from BC Gov Photos Via flickr. British Columbia Premier David Eby outlined an approach to mining development in the province’s northwest that combines economic growth, reconciliation and conservation in a speech to the mining industry, First Nations and conservation organizations in Vancouver on Monday. The vision, Eby emphasized, is to realize an opportunity for tens of billions of dollars in investment and thousands of jobs throughout the province. British Columbia currently produces or has the potential to produce 19 of Canada’s 34 critical minerals essential to Canada’s economic independence and national security. BC has a rich copper endowment, with a range of porphyry, skarn, and massive sulphide deposits. The International Energy Agency highlights copper in particular demand, with a forecasted supply shortage by 2035. Earlier this month, Mining Association of British Columbia (MABC) CEO Michael Goehring mapped opportunities for BC to become a global player in critical minerals markets after the 2025 Economic Impact Study was released, which identified 27 mining projects representing C$90 billion ($65 billion) in potential economic activity for the province. In the coming weeks, the province said it will provide details on how the plan will be executed. Key points of the strategy include working to complete consent-based agreements with First Nations; an inclusive expedited process to protect important lands and watersheds in partnership with First Nations that balances development of economic opportunities with investments in the social well-being and physical infrastructure of northern communities. The plan also emphasizes working with other provinces and Ottawa to seek new trade agreements that prioritize BC’s minerals and metals; continuing government’s work to provide resources to speed up permitting while maintaining high environmental standards and BC’s commitment to reconciliation. Building out BC’s clean electricity grid is a priority, as is powering new mines and mine extensions, and providing certainty and timeliness for investors through future regulatory and infrastructure policy changes and aligning approval processes for projects of provincial or national significance with Ottawa so that there is one project, one review. “Here in British Columbia, economic development, conservation of precious water and land, and partnership with First Nations go hand-in-hand,” Premier Eby said in a news release on Monday. “Our approach makes BC a world-class place to invest, and our province has all it takes to succeed in the face of global challenges. By working together to seize the potential in the northwest, we can also drive private-sector investment,” Eby said. The Association for Mineral Exploration (AME) released a response to the announcement on Monday. “Mineral exploration in Northwest BC supports thousands of workers and families throughout the province, and the development of every operating metal mine in BC started with a discovery by a prospector or junior mining company,” AME said. “The province’s proposed strategy must quickly bring confidence and clarity with access to land for mineral exploration and development. To succeed, it must be an open and transparent process that includes the mineral exploration sector at the table with government, First Nations and other partners. AME appreciates the transparent approach that the provincial government has taken at this very early stage and looks forward to receiving more detail.”

Wildfires burning near the northwestern Manitoba town of Lynn Lake have spurred Alamos Gold (TSX, NYSE: AGI) to temporarily pause operations at its nearby project, the company said. Lynn Lake ordered all residents and visitors to evacuate on Tuesday morning due to the approaching fires, the town said on its Facebook page. Alamos staff were offering to help the town in its fire response, while while it wasn’t immediately clear if nearby explorer Corazon Mining (ASX: CZN) had been affected. Fires were classified as burning out of control just north of the town on Tuesday afternoon, according to the Manitoba government’s online FireView map. “Our main priority right now is focusing on the safety of everyone affected and supporting the town of Lynn Lake with resources at our disposal to help in their response,” Rebecca Thompson, Alamos Gold vice president of public affairs, told The Northern Miner by email. “The Manitoba Fire Services is leading the fire suppression efforts, and we have offered… equipment, personnel and support services.” Credit: Manitoba government Credit: Manitoba government Line of fire Alamos’ precautions follow wildfires in southeast Manitoba that threatened Grid Metals’ (TSX: GRDM) projects and Sinomine’s Tanco mine, one of Canada’s two producing lithium mines. Almost two weeks ago, Grid had suspended activities at its projects in the area and employees from the China-controlled Tanco had reportedly driven out of the area. Two residents in the nearby town of Lac du Bonnet were killed ton May 14 amid the fires. Alamos’ permitting-stage Lynn Lake project consists of the MacLellan deposit, about 10 km northeast of the town, and the Gordon deposit about 55 km east. Earlier in May, a fire broke out at MacLellan during very high winds and the site was evacuated, Thompson said. The fire was suppressed, and it was deemed safe to return the following day. Corazon Mining Corazon Mining (ASX: CZN) holds its Lynn Lake nickel-copper-cobalt exploration project in the area. Its Fraser Lake Complex is about 5 km south of the town. Corazon’s MacBride copper-zinc-gold project is about 60 east of Lynn Lake. Officials from the Perth-headquartered company didn’t immediately reply to emails on Tuesday seeking comment.

Log in to today's North American session recap - May 27, 2025 The US dollar is leading all majors in what was a steady green day after coming back from closed US Markets. The risk-on tone that kicked off the week continues to hold, with equity index futures closing higher across most major regions. Once again, Japan's Nikkei leads the charge, surging an impressive 4% on the day. The rally was fueled by comments from Japanese Finance Minister Kato, who announced the government plans to reduce issuance of longer-term bonds. You can read more on that development here. All US Indices are closing above 1.80% with the Russell 2000 leading the charge at 2.60%, followed by the Nasdaq at 2.35%. Bitcoin reverses its overnight retracement and is closing around +0.90% on the day, still trading near it's all-time highs, very close to $110,000. Oil did not benefit from today's positive sentiment having closed down 0.80% on the day, having although bounced off the bottom of its $60-$64 range. A picture of today's performance for major currencies close Currency Performance, May 27 - Source: OANDA Labs /media/images/Screenshot_2025-05-27_at_4.36.41PM.width-1400.png The yen has taken a hit from recent comments that were made at the 2025 BOJ-IMES Conference in Tokyo. The currency had been rallying against the Dollar since the 12th of May. You can take a look at our most recent USD/JPY analysis for more technical levels. USD/JPY is finishing the day up 1.05%. The USD is at the other extreme, finding buyers at the 98.70 level, as the DXY is now trading at 99.60. The Dollar Index serves as a reliable gauge of market sentiment toward the Greenback, offering insight into current demand—or lack thereof. The NZD is the second worst performer of the day as cuts are getting priced in again, with the Kiwi closing down 0.83% against the US dollar. You can find another in-depth analysis for tonight's RBNZ meeting right here. Economic Calendar for the May 28th Session close MarketPulse Economic Calendar for May 27 & 28, 2025 (click to enlarge) /media/images/Screenshot_2025-05-27_at_4.53.41PM.width-1400.png Today's overnight session is a busy one, starting with the Australian CPI at 21:30 E.T., expected at 2.3%. We will also finally have the RBNZ Rate decision, coming at 22:00 E.T. Most analysts are expecting a 25 bps cut. There is a speech from FED's Waller around the same time as he speaks in the 2025 BOJ-IMES Conference in Tokyo, Japan - Waller tends to move US markets particularly when it comes to cuts, as he will present a panel on Monetary Policy. Tomorrow we will see the release of Germany's Employment data, FOMC Minutes at 2:00 P.M and a few Central Bank speakers with no major actors planned. Safe Trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. 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. © {CURRENT_YEAR} OANDA Business Information & Services Inc.

EV battery manufacturers based in China, South Korea and Japan have almost complete control of the global market and it’s not changing any time soon. During the first quarter of 2025 a combined $3.01 billion worth of battery metals were contained in the packs of newly sold EVs worldwide, up a modest 1.3% year over year. The stagnant costs of the EV metal basket is great news for cell suppliers and battery manufacturers as demand for raw material continues to boom. The tonnes of graphite, lithium, nickel, cobalt and manganese deployed during the first three months was up a robust 27% year on year to a combined 428.2 kilotonnes, according to data from EV supply chain research consultants Adamas Intelligence. Keeping in mind that the installed tonnage does not take into account any losses during processing, chemical conversion or battery production scrap (often well into double digit percentages), so required tonnes and revenues are meaningfully higher at the mine mouth. The accompanying graph shows the spending of the more than 60 global cell suppliers and battery manufacturers by country of ownership. It’s virtually an all-Asia affair with Chinese, South Korean and Japanese battery makers representing 94% of raw material spending. EV batteries are a particularly top heavy industry with the big 4 – CATL, LGES, BYD and Panasonic – accounting for two out of every three dollars spent. Top spender in North America, Ultium Cells, is a fast-growing partnership between LG Energy Solution and General Motors, so technically a portion of the battery manufacturer’s spending could also be assigned to the East, making the dominance of Asian players even more prevalent. Moreover, since lithium iron phosphate or LFP’s market share in China has been above 50% for the better part of three years and top EV maker BYD has long since moved to an all LFP line up, battery suppliers there under spend their NCM-reliant competitors by reducing spend on pricier nickel and cobalt. That means on a combined battery capacity deployed basis their control of the market is even more substantial. Nevertheless, Chinese battery makers spend more than half the global total (Japan’s other EV battery champion, AESC, is majority owned by China’s Envision group). Panasonic’s 9% market share in dollar terms is higher than for total battery capacity deployed (6% in Q1 on GWh terms, according to Adamas) due to the large proportion of its cells ending up in conventional hybrids where nickel metal hydride is the cell of choice and LFP has made no inroads. Despite its already towering presence in the market, CATL, fresh from a blockbuster share offering in Hong Kong, is aggressively pursuing growth. The presence outside China of the Fujian-based company, which in its present form was only established in 2011, is set to rise rapidly – as is the adoption of LFP cathode chemistries. CHARTS: EV battery metals bill ticks up as cobalt, nickel prices strengthen CATL already has a foothold on Western markets with its largest operating plant outside China located in Thuringia, Germany. A giant 100 GWh factory currently under construction in Debrecen, Hungary capable of equipping as many as 1.5 million EVs per year, is set to come on towards the end of the year, and plans for a 50 GWh facility in Zaragoza, Spain are far advanced. All three manufacture LFP cells. Wrestling control from the incumbents has been slow. The world’s number two automaker, Volkswagen’s PowerCo, has yet to put into production any of its planned (and scaled back) battery plants, the largest of which is located in Ontario, Canada. Premier Ford’s BlueOval facility using CATL’s LFP technology is set to start production next year, but given the trade tensions between Washington and Beijing, the Chinese giant’s involvement may be reduced further. Tesla’s ambitious plans to become a battery manufacturer in its own right also seem to have hit a wall, with its Austin, Texas factory representing only 15% of total raw material tonnes contained in Tesla models sold during the first three months of the year. Worldwide, Tesla remains CATL’s number one customer. While France’s ACC, part owned by Stellantis and Mercedes-Benz deserves an honourable mention, the $8 billion failure of Europe’s great battery hope – Northvolt – shows the benefits of economies of scale and institutional knowledge in the still fast-growing EV industry. On top of that, China’s grip on the mine to megawatt pipeline provides the underpinnings of its continued dominance. For a fuller analysis of the battery metals market check out the latest issue of the Northern Miner print and digital editions. *Frik Els is Editor at Large for MINING.COM and Head of Adamas Inside, providing news and analysis based on Adamas Intelligence data.

Reserve Bank of New Zealand (RBNZ) Rate Decision Traders are closely monitoring the RBNZ meeting scheduled for Tuesday, May 27, 2025. Market consensus, based on Bloomberg analyst surveys, strongly anticipates a 25 basis point (bps) rate cut, bringing the official cash rate to 3.25%. This follows a previous 25 bps cut in April. Further RBNZ rate cuts are possible in 2025 due to global trade uncertainties and potential economic slowdowns. The recent New Zealand Employment Change Q/Q showed a 0.1% increase, as expected, though the previous quarter's data was revised downward. The New Zealand Unemployment Rate remained steady at 5.1%, better than the 5.3% forecast. Federal Open Market Committee (FOMC) Minutes and US Data The release of the FOMC Minutes for the May 6/7 meeting on Wednesday can be significant for NZD/USD. Traders will seek insights into FOMC members' views on tariff impacts, inflation expectations, and the potential for slow growth and a weak labor market. The latest FOMC statement highlighted "risks of higher unemployment and higher inflation." Fed Chair Jerome Powell has emphasized prioritizing inflation over short-term growth. US Personal Income, Personal Spending, and Personal Consumption Expenditure (PCE) data are due Friday from the Bureau of Economic Analysis. The Core PCE Price Index M/M is expected to rise 0.1%, while the Y/Y is expected to decrease from 2.6% to 2.5% NZD/USD Technical Analysis (May 27, 2025) close NZD/USD Daily Chart - Source: Tradingview.com Past perfomance is not indicative of future results /media/images/NZDUSD_2025-05-27_14-01-35.width-1400.png Widening Pattern: The NZD/USD pair has exhibited a "widening pattern" formation since early 2025. Price Range: Influenced by global trade tariff updates, and following a dip to 0.5530 (the lower boundary of the widening formation), the NZD/USD exchange rate surged to 0.6000 (the upper boundary). Sideways Trading Range: Since late April 2025, NZD/USD price action has been trading within a defined range of 0.5830 to 0.6000, indicated on charts by blue lines. Key Resistance Levels: The current NZD/USD price is testing a significant confluence of resistance: Upper level of the current trading range (around 0.6000)Daily pivot point at 0.6004Weekly R1 resistance at 0.6025Potential Breakout: A break and close above these resistance levels could signal a bullish continuation, potentially turning the current range into a "flag formation" for the uptrend initiated in early April. Critical Support Levels: A critical support zone exists: Weekly pivot point at 0.5950Convergence of moving averages: EMA9, SMA9, and SMA20Overbought Indicators: Stochastic Oscillator has been in overbought territory since April, aligning with price action.Relative Strength Index (RSI) is also approaching overbought levels, reflecting current price momentum. Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. 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. © {CURRENT_YEAR} OANDA Business Information & Services Inc.