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The EUR/USD currency pair traded very calmly during most of Thursday—at least, up until the US inflation report came out, which is now much more important than the ECB meeting. But more on that later. Let's remember that volatility has noticeably declined over the last one and a half to two months, which, perhaps not coincidentally, matches the period when there's been no trending movement in the market. So, the market has effectively taken a pause and seems in no hurry to end it. From our point of view, the US dollar still has plenty of fundamental reasons to keep falling—reasons we discuss constantly. Any strengthening of the dollar should be viewed as a normal correction; any US dollar decline is entirely logical. Yesterday, the European Central Bank left all three key rates unchanged for the second time in a row, which surprised absolutely no one. The ECB has achieved its goal of stabilizing inflation around 2%. And since Donald Trump is not the president of the European Union, there's no need to worry about runaway or unexpected price growth. In America, Donald Trump ignores rising inflation. He doesn't seem to care how much consumer prices are rising. After all, American consumers will pay for all the import tariffs, not China or India. If Americans are willing to pay more for all imported goods in silence, then they'll also have to put up with inflation. Meanwhile, for public opinion and headlines, Trump will lower some taxes, primarily benefiting the wealthy. In the Eurozone, the situation is totally different. The ECB consistently worked toward its 2% inflation goal and achieved it. At that point, the ECB's key interest rate was down to 2.15%, and the deposit rate to 2%. Since inflation isn't decreasing further, no additional monetary easing is needed. So, the ECB's rate decision came as no surprise. In the second half of the day, the dollar, of course, crashed because of the US inflation data, although it did so for fairly formal reasons. We've said recently that any August inflation print in the US wouldn't affect the Fed's decision on September 17. The rise in inflation to 2.9% only means that the Fed will have to fight on two fronts: stimulating the labor market and fighting rising prices. But how can they achieve both goals simultaneously? The correct answer: they can't. The US central bank will have to balance between two fires, but in the end, it may "fail to achieve either goal." Remember: with rising inflation, at a minimum, you shouldn't be cutting rates; at maximum, you should be raising them. In total, the Fed has implemented three phases of monetary easing, totaling a 1% rate cut so far. As we see, after Trump implemented tariffs, even a pretty "tight" Fed policy hasn't been able to curb rising prices. As we warned, inflation in the US will continue to rise. It has struggled to climb further recently because the key rate remains high—but starting September 17, the rate will begin to drop and the Fed will end up cutting to "save the labor market," which may further accelerate consumer price growth. The average daily volatility for EUR/USD over the last five trading days as of September 12 is 78 pips, which is considered "average." We expect the pair to move between 1.1657 and 1.1813 on Friday. The linear regression channel's upper band is turned upward, still indicating an uptrend. The CCI indicator went into the oversold zone three times, warning of a trend resumption. There was also a bullish divergence, warning of an upcoming rally. Nearest Support Levels:S1 – 1.1719 S2 – 1.1658 S3 – 1.1597 Nearest Resistance Levels:R1 – 1.1780 R2 – 1.1841 Trading Recommendations:The EUR/USD pair may resume its uptrend. The US dollar remains under strong pressure from Trump's policies, and he's not going to "stop where he is." The dollar has rallied as much as it could, but now it seems a new round of prolonged decline is about to begin. If the price is below the moving average, consider modest shorts with a target of 1.1658. Long positions remain relevant above the MA, aiming for 1.1780 and 1.1813 to continue the trend. Chart Elements Explained:Linear regression channels help determine the current trend. If both channels point in the same direction, the trend is strong.The moving average line (settings 20,0, smoothed) indicates the short-term trend and trade direction.Murray levels serve as target levels for moves and corrections.Volatility levels (red lines) are the likely price channel for the next day, based on current volatility readings.The CCI indicator: dips below -250 (oversold) or rises above +250 (overbought) mean a trend reversal may be near.The material has been provided by InstaForex Company - www.instaforex.com

GBP/USD 5-Minute Analysis The GBP/USD currency pair also posted quite strong growth on Thursday, even though it experienced a decline in the first half of the day. However, this drop allowed a second extremum to form on the hourly chart, which ultimately resulted in the development of an ascending trendline. So, as the saying goes, "all's well that ends well." The British pound is growing again—because, at this stage, it has no other realistic option. The US inflation report could theoretically have supported the greenback, since inflation increased in August, which may prompt the Fed to cut rates a bit more slowly. However, we were warning that inflation is not currently influencing the Fed's monetary policy—the US labor market is the primary focus for the Fed right now. In the UK, it's been an absolute lull this week. The first reports will be published only on Friday, and even then, they are not likely to change trader sentiment much. These are the monthly GDP and industrial production figures. Monthly GDP is unlikely to attract much attention, and industrial output is not a particularly important indicator—especially for Britain. So even if the pound falls slightly on these reports, the decrease will probably be minor. Yesterday on the 5-minute chart, three buy signals were formed near the Kijun-sen line. During the US session, there was a breakout of the 1.3525-1.3548 area. So, during the European session, traders could open long positions, even though there were at least two dangerous moments when the price tried to settle below the critical line. Still, in the end, the pair delivered the expected growth. COT Report COT reports for the British pound show that in recent years, commercial traders' sentiment has constantly shifted. The red and blue lines—representing commercial and non-commercial net positions—constantly cross and, in most cases, are close to zero. Right now, they are at about the same level, which indicates roughly equal positions for buying and selling. The dollar continues to decline due to Trump's policies, making demand from market makers for the pound sterling less significant at this time. The trade war will continue in some form for a long while. The Fed will cut rates anyway in the coming year. Dollar demand, one way or another, will fall. According to the latest pound sterling report, the "Non-commercial" group opened 600 BUY contracts and 1,800 SELL contracts. Thus, the net non-commercial position decreased by 1,800 contracts during the week. GBP surged in 2025, but it's crucial to note that the primary factor was Trump's policy. As soon as that factor is neutralized, the dollar may rise again, but when is anyone's guess. No matter how fast or slow net positioning in the pound grows or falls, it's the dollar that keeps dropping—and usually at a faster rate. GBP/USD 1-Hour Analysis On the hourly timeframe, GBP/USD is preparing to form a new uptrend—and is currently doing so. Fundamental and macroeconomic backgrounds remain unfavorable for the dollar, so there is still no reason to expect its medium-term growth. For September 12, we highlight the following important levels: 1.3125, 1.3212, 1.3369-1.3377, 1.3420, 1.3525-1.3548, 1.3615, 1.3681, 1.3763, 1.3833, 1.3886. The Senkou Span B (1.3441) and Kijun-sen (1.3522) lines can also generate signals. It is recommended to set your Stop Loss to break even once the price moves 20 pips in the right direction. The Ichimoku indicator lines may move throughout the day; this should be considered when working with trading signals. On Friday, the first UK reports of the week are due, but they cannot be called significant. As such, the market's reaction may be minimal or even non-existent. In the US, the interesting University of Michigan Consumer Sentiment Index will be released, and the reaction will depend on how much the actual number deviates from the forecast. Trading RecommendationsWe believe that on Friday, the uptrend may continue, as practically all factors point in that direction. The target is 1.3615. We expect the pound's growth to continue above this level as well. Illustration Explanations:Support and resistance price levels – thick red lines where movement may end. They are not trading signal sources.Kijun-sen and Senkou Span B lines—These are strong Ichimoku indicator lines transferred to the hourly timeframe from the 4-hour one.Extremum levels – thin red lines where the price has previously rebounded. These act as trading signal sources.Yellow lines – trend lines, trend channels, and other technical patterns.Indicator 1 on the COT charts – the size of the net position for each category of traders.The material has been provided by InstaForex Company - www.instaforex.com

EUR/USD 5-Minute Analysis The EUR/USD currency pair demonstrated quite strong growth on Thursday, which fully matched our expectations. On Thursday, only two events could have triggered volatility: the ECB meeting and the US inflation report. The ECB ultimately left all rates unchanged, as expected. In the final statement, the most noteworthy point was the upward revision of inflation forecasts for 2025-2026. However, this revision was minimal and does not significantly exceed the ECB's target level. Thus, at this time the ECB does not see a threat of uncontrolled price growth. But it was the US inflation report that caused the dollar to fall, even though it didn't have to. Inflation in the US rose to 2.9%, matching forecasts. Growing inflation usually means the Fed may be slightly less "dovish" through year-end than the market expects. However, we warned traders about two things: First, the dollar had been rising without reason and irrationally on Tuesday and Wednesday. Second, the current inflation figure in the US does not matter for the Fed's September 17 decision. As a result, we saw a generally predictable drop in the US dollar. On the 5-minute chart, a great buy signal appeared at the very start of the US session, with a bounce from the 1.1666 level. At the time of the US inflation news, the price had already moved up about 15 pips, so traders could just move their Stop Loss to break even. One had to act quickly, but it was worth it. For the rest of the day, the pair only rose and reached the 1.1750-1.1760 area. Thus, about 60 pips in profit could be earned. COT Report The latest COT report is dated September 2. The chart above clearly shows that the net position of non-commercial traders was bullish for a long time, and bears only tenuously took control at the end of 2024, but quickly lost it. Since Trump became the US president, the dollar has been the only currency to fall. We can't say with 100% certainty that the US dollar's decline will continue, but current world events point precisely in that direction. We still see no fundamental factors for strengthening the euro, but there remain plenty of reasons for the dollar to decline. The global downtrend remains intact, but does it matter where the price has moved over the last 17 years? Once Trump ends his trade wars, the dollar may go up again, but recent events show that the trade war will continue in one form or another. A potential loss of Fed independence is yet another strong pressure factor on the US currency. The positioning of the indicator's red and blue lines still shows a bullish tendency. During the last reporting week, long positions from the "Non-commercial" group decreased by 2,700, while shorts increased by 700. The net position for the week thus decreased by 3,400, which is an insignificant change. EUR/USD 1-Hour Analysis On the hourly timeframe, EUR/USD continues a moderate uptrend. A bounce off the trend line, combined with the US inflation report, sparked a new rise in prices. The pair still spends most of its time in the 1.1615-1.1750 range, but there is an upward skew. The dollar still faces plenty of bearish factors, and even this week, it could have fallen almost every day. For September 12, we identify the following trading levels: 1.1092, 1.1147, 1.1185, 1.1234, 1.1274, 1.1362, 1.1426, 1.1534, 1.1604-1.1615, 1.1666, 1.1750-1.1760, 1.1846-1.1857, as well as the Senkou Span B line (1.1660) and the Kijun-sen line (1.1721). The Ichimoku indicator lines may move during the day, so keep that in mind for trade signals. Don't forget to set Stop Loss to break even if the price moves in your favor by 15 pips—this will protect you from potential losses if the signal turns out to be false. On Friday, Germany will publish the second estimate of August inflation, and the US will release the University of Michigan Consumer Sentiment Index for September. Both reports are secondary, but the sentiment index may trigger some market reaction. Trading RecommendationsOn Friday, the pair may continue moving north, but it needs to break through the key 1.1750-1.1760 area. In this case, long positions will be relevant with the target of 1.1846-1.1857. A bounce from this area would trigger a new corrective pullback. Illustration Explanations:Support and resistance price levels – thick red lines where movement may end. They are not trading signal sources.Kijun-sen and Senkou Span B lines—These are strong Ichimoku indicator lines transferred to the hourly timeframe from the 4-hour one.Extremum levels – thin red lines where the price has previously rebounded. These act as trading signal sources.Yellow lines – trend lines, trend channels, and other technical patterns.Indicator 1 on the COT charts – the size of the net position for each category of traders.The material has been provided by InstaForex Company - www.instaforex.com

Dogecoin (DOGE) is trading around $0.249, pressing against the upper end of a six-week range between $0.22 and $0.25. Technical indicators now hint at a potential rally, with the meme coin attracting renewed attention from investors. The 20-day EMA near $0.225, alongside the 50-day, 100-day, and 200-day averages clustered below $0.220, highlight a strong support zone. With the RSI at 60–61, DOGE shows steady buying momentum without being overbought. Similarly, the MACD histogram has turned positive, signaling a resurgence in bullish sentiment following muted August trading. Resistance at $0.25 Could Unlock Higher Targets Dogecoin’s short-term trajectory hinges on whether it can close above $0.246–$0.250, a level where both resistance and Bollinger Bands converge. A confirmed breakout may clear the path toward $0.263, $0.273–$0.276, and the July high of $0.300. Support sits at $0.238–$0.240, with deeper levels near $0.233–$0.231 and the 20-day EMA at $0.225. Any drop below the 100/200-day cluster around $0.214–$0.213 would weaken the bullish setup. Market analysts also note Dogecoin’s parallel channel pattern, with resistance near $0.29. A breakout here could potentially extend gains beyond $0.3 to as far as $0.50, based on the measured width of the channel. ETF Buzz and Whale Activity Add Fuel Beyond technicals, fundamentals are helping fuel optimism. Grayscale recently filed for a U.S. Dogecoin ETF, while the REX-Osprey Dogecoin ETF officially launched on September 11. These developments underscore rising institutional interest in meme coins, a trend once considered unlikely. Meanwhile, whale activity has picked up, with over 10 million DOGE withdrawn from exchanges. Such moves reduce market supply and are typically interpreted as long-term accumulation. With institutional products entering the market and on-chain metrics improving, the bullish narrative around Dogecoin is strengthening. A decisive move above $0.25 could set the stage for a rally toward $0.30, and possibly higher if momentum carries through. Cover image from ChatGPT, DOGEUSD chart from Tradingview

A Dogecoin exchange-traded fund with the ticker DOJE is set to start trading in the US on September 11, 2025. According to reports, the fund is being launched by REX-Osprey and will provide US investors a regulated way to gain exposure to DOGE without holding the coin directly. Eric Balchunas, a senior ETF analyst at Bloomberg, told market watchers that the fund will hold an asset with “no utility on purpose,” and he publicly challenged supporters to point to clear real-world uses for Dogecoin beyond community interest and trading. Analyst Asks Supporters To Show Practical Uses According to Balchunas, DOJE will be the first US ETF that openly holds an asset whose backers say lacks practical functions. He pushed the community to list where DOGE is used as more than a token of speculation or culture. Some in the Dogecoin community pointed to limited payment tests and merchant experiments, while others emphasized the coin’s long history of publicity and social attention. Reports also note the fund is being structured under the Investment Company Act of 1940 instead of the Securities Act of 1933, a choice that has drawn extra scrutiny. Why Utility Matters For Investors Investors typically seek ways to value an asset beyond pure sentiment. Utility can mean things like payment rails, governance roles, or fuel for smart contracts — uses that create sustained demand. When those uses are limited, price moves can be driven mainly by headlines and momentum. That makes risk evaluation harder for portfolios that require steady, predictable exposures. Some market participants counter that brand recognition, liquidity, and culture can still produce buyer interest, at least while markets are favorable. Less Common Legal Route Based on reports, the legal route chosen for DOJE is unusual for a crypto-linked spot fund. Filing under the 1940 Act instead of the 1933 Act carries different compliance and custody implications. Few ETFs have taken this exact path for a memecoin-style asset, and observers say they will watch how custody and regulatory reviews play out once trading begins. Traders and institutions may treat the fund differently because of the structure and the questions raised over utility. Featured image from Unsplash, chart from TradingView

Lundin Gold (TSX: LUG) (Nasdaq: LUG) said on Thursday its CEO Ron Hochstein will step down after ten years of leadership, to be replaced by Jamie Beck, former CEO and Director of Filo Corp., effective November 7, 2025. Beck brings a proven track record of creating shareholder value within the Lundin Group, the company said. Under his six-year leadership at Filo, the exploration program delivered the discovery of one of the largest copper, gold and silver deposits in the world, culminating in the C$4.5 billion acquisition of Filo by BHP and Lundin Mining in January 2025. During Beck’s tenure as CEO, Filo delivered an approximate 1,700% return for its shareholders. Since joining in 2009, he has held numerous senior roles within the Lundin Group, including at NGEx Resources, Filo Mining, Josemaria Resources, and Lundin Mining. He also has direct experience with Fruta del Norte, having provided financial analysis and support for Lundin Gold’s $240 million acquisition of Fruta del Norte from Kinross Corporation, and later during negotiations on fiscal terms with the Government of Ecuador. Beck is a registered Professional Engineer in the Province of Ontario, holds a Bachelor of Applied Science in Mechanical Engineering from Queen’s University, and an MBA from the University of British Columbia. “With the support of the Board and our two largest shareholders, I have decided that the time is right to transition Lundin Gold to new leadership,” Hochstein said in a news release. “The past ten years with Lundin Gold have been a tremendous adventure and very rewarding. During this time, I’ve had the privilege of working with people committed to making responsible mining in Ecuador a success for all stakeholders. I have worked with Jamie for over 15 years in various roles within the Lundin Group, and I am very confident that he will continue to build on this legacy that began with the vision of Lukas Lundin in 2014.”

Meanwhile, serious concerns are brewing in Congress over Trump's actions aimed at forming a new FOMC lineup. Most lawmakers are openly speaking about Donald Trump pressuring the central bank. Without a doubt, this comes mainly from Democrats—who are in the minority in both chambers—but I suspect Republicans also fully understand Trump's true motives. According to Democrats, the Fed could lose its independence, threatening the trust of businesses and consumers in the central bank. In this case, the public may stop believing in the Fed's ability to contain inflation, which could spark even higher price growth. A chain reaction could begin, with businesses raising prices simply in fear of further future increases. Trump practically states openly that inflation doesn't concern him. Despite rising inflation over the past three months, the president continues to claim there is no inflation. What he means is extremely hard to understand. No inflation at all? Or does he mean a low rate of price growth? But the official data show the opposite. And the onset of the inflation acceleration "paradoxically" matches the timing of Trump's tariffs kicking in at full strength. Moreover, Steven Mirran—almost certain to be confirmed by the Senate in his new role—does not intend to leave his other post in the White House, which by itself is absurd. Essentially, Mirran would be pursuing the goals of both the White House and the Fed, which are absolutely incompatible. The Fed's independence is written into law to prevent any political influence on central bank decisions. FOMC members are supposed to make decisions based solely on economic analysis, which is simply impossible if a Fed governor continues to serve as Trump's adviser. In my opinion, Trump will not abandon his ideas and goals. Following Powell, Kugler, and Cook, there will be new accusations and new dismissals. Trump will litigate to the bitter end because he simply has no other choice. Why back down in a confrontation with the Fed? Trump certainly would gain nothing from that. The same goes for the trade tariffs, which two courts have already blocked. Only the Supreme Court's verdict remains. Wave Picture on EUR/USD:Based on my analysis of EUR/USD, the instrument continues to build a bullish trend segment. The wave structure still entirely depends on the news background related to Trump's decisions, as well as the internal and external politics of the new Administration. The objectives of the trend segment could extend to the 1.2500 area. Therefore, I continue to consider buying the pair with initial targets near 1.1875, which coincides with the 161.8% Fibonacci level, and above. Wave Picture on GBP/USD: The wave structure of the GBP/USD instrument remains unchanged. We are dealing with a rising, impulsive trend segment. Under Trump, the markets can expect a significant number of shocks and reversals, which may have a substantial impact on the wave picture. However, at the moment, the working scenario remains intact, and Trump's policy is unchanged. The objectives for the bullish trend segment are near the 261.8% Fibonacci level. At this time, I believe the corrective wave 2 in 5 has ended. Thus, I still advise buying with a target of 1.4017. The Basic Principles of My Analysis: Wave structures should be simple and understandable. Complex structures are harder to trade and often involve changes.If you are not confident about the market situation, it's better not to enter.Absolute certainty about price direction never exists. Always use protective Stop Loss orders.Wave analysis can be combined with other forms of analysis and trading strategies.The material has been provided by InstaForex Company - www.instaforex.com

GBPUSD rallied after US CPI data all but confirmed a rate cut next week. At least that is the view of market participants who actually priced in as much as 75 bps of cuts through December 2025, according to futures pricing. For more on the US CPI release, please read A hesistant FX Market after the as-expected September CPI release – Technical levels US data had been the talking point heading into the week, and now with CPI and PPI behind us focus may begin to turn to UK GDP data due out tomorrow. For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) UK Economy and GDP Data The UK economy is at a critical point. A new report on the country's Gross Domestic Product (GDP) is expected to reveal more about its health. Experts predict that the UK's economy didn't grow at all in July after a surprisingly strong 0.4% increase in June. While the economy grew by 0.3% in the second quarter of the year, this was slower than the 0.7% growth in the first quarter. One reason for the earlier growth was that businesses were preparing for new US taxes and tariffs, an effect that is not expected to continue. The UK economy appears to be stuck in a "low-growth trap," meaning it's growing very slowly. Although the forecast for growth in 2025 has been slightly increased from 1.1% to 1.3%, this is still considered very weak. In response to the economic situation, the Bank of England (BoE) recently lowered its main interest rate to 4%. However, it plans to make only two more small cuts by the end of 2026. This cautious approach is because the BoE is still worried about inflation, which is the rate at which prices are rising. They expect inflation to reach a high of 3.7% this year. If the upcoming GDP numbers are surprisingly strong, this cautious approach by the BoE could actually make the British Pound stronger against other currencies. Now the consequences of this may come in the form of rate differentials in the months ahead. If the BoE decides to stop cutting rates and the Fed starts with rate cuts, this could leave GBPUSD poised to rise even further. Technical Analysis - GBP/USD From a technical point of view, GBP/USD rallied today and ran into a key resistance level which has held firm over the last month. The resistance level at 1.3584 has been tested two or three times over the past month but has thus far held firm. Today's hammer candlestick close hints at further upside. Immediate resistance rests at 1.3680 before the YTD high at 1.3788 comes into focus. Looking at the possibility of a move lower, immediate support rests at the 1.3500 handle before the 1.3378 handle becomes an area of focus. GBP/USD Daily Chart, September 12, 2025 Source:TradingView 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.

Mantle (MNT) has emerged as the top gainer in the crypto market, soaring to a new all-time high of $1.65 on September 11. The token is up 18% in 24 hours, 46% over the past week, and an impressive 65% in the last month. With a market cap of $5.3 billion and fully diluted valuation at $10.1 billion, Mantle’s surge is being fueled by its deepening partnership with Bybit. The initiative, branded as “MNT x Bybit 2.0,” introduced 21 new trading pairs against top assets like ETH, SOL, ADA, and SUI. Bybit also launched a “HODL & Earn” campaign, rewarding Mantle holders with a share of a 60,000 XUSD pool. This has led to a sharp spike in activity, with spot volume climbing 41% to $655 million and futures volume more than doubling to $268 million. Open interest jumped to $203 million, reflecting heightened speculative demand. Technical Indicators Point to Momentum, and Risk The breakout has placed Mantle firmly above $1.60, with strong support from short-term moving averages. The 10-day EMA at $1.32 and 20-day SMA at $1.22 are trending upward, while momentum indicators like MACD and Momentum remain bullish. Analysts suggest that if the uptrend continues, MNT could test resistance levels of $1.80-$2.00. However, warning signals are emerging. The RSI has climbed above 70, flashing overbought conditions, while the Commodity Channel Index (CCI) surged above 300. Both indicators often precede short-term pullbacks. Bollinger Bands also show price hugging the upper band, suggesting high volatility ahead. What’s Next for Mantle (MNT)? Mantle’s future trajectory will hinge on whether it can sustain demand generated by Bybit’s expansion and its omnichain integration via LayerZero, which boosts utility across multiple blockchains. Its growing role in DeFi, connected with a rising TVL of $1.8 billion, strengthens the bullish case. However, analysts warn that profit-taking or broader market shifts could trigger a correction toward $1.22–$1.36 support zones. For now, investor confidence remains high, but the key question is whether Mantle can build on its momentum or if the rally is nearing exhaustion. Cover image from ChatGPT, MNTUSD chart from Tradingview

On Thursday, gold was trying to maintain its optimism. On Wednesday, the US Bureau of Labor Statistics (BLS) announced that the Producer Price Index (PPI) in the US annually fell to 2.6% in August compared to 3.3% a month earlier. Other indicators showed that the core PPI—excluding food and energy—rose 2.8% year-on-year, down from 3.7% in July. The absence of inflationary pressure from producers, despite the imposed import tariffs, signals weakening domestic demand amid instability in the labor market. Even though the released Consumer Price Index exceeded forecasts, this dynamic supports market expectations of an upcoming interest rate cut by the Federal Reserve at next week's policy meeting. Moreover, market participants are pricing in a relatively low probability of a significant rate cut at the upcoming September 17 meeting, but expect three consecutive 25-basis-point Fed cuts by the end of the current year. This has halted the dollar's strengthening—which tried to rebound from its July 28 lows—and is supporting gold. In trade, US President Donald Trump called on the European Union to introduce 100% tariffs on imports from China and India as part of pressure on Russia to end the conflict in Ukraine. Last month, Trump raised tariffs on Indian goods to 50%, citing continued purchases of Russian oil. Meanwhile, on Wednesday, Polish troops shot down Russian drones that crossed the country's airspace after carrying out missions in western Ukraine. This is the first time that a NATO country opened fire during the Russia-Ukraine conflict, raising the risk of further geopolitical escalation. Trump also threatened to tighten sanctions against Russia following a major aerial bombardment in Ukraine. This further supports gold, limiting any significant downward corrections, as the metal serves as a safe haven for capital. Technical AnalysisFrom a technical standpoint, the daily RSI (Relative Strength Index) continues to remain in overbought territory, confirming the likelihood of consolidation or a minor pullback. However, further declines below Thursday's low around $3612 will meet support near the key $3600 round level, ahead of the weekly low around $3578. A convincing break of this area would clear the way for deeper losses, pushing gold toward intermediate support at $3565–3560, which could bring prices down to last Thursday's low in the $3510 area. The material has been provided by InstaForex Company - www.instaforex.com

On Monday, Steven Mirran may officially become one of the members of the Fed's Board of Governors. Recall that in August, Adriana Kugler decided to leave her post under rather strange circumstances, six months before the end of her term. In my opinion, this did not happen without Donald Trump's influence. And since Kugler had only a few months left at the Fed, she chose not to start a legal battle with the President of the United States—unlike Lisa Cook, who is only just beginning her story at the Fed. Thus, as of Monday, there will be three known "doves" on the FOMC. The first two are Christopher Waller, who remains one of the candidates for the role of Chair after Powell, and Michelle Bowman, whom Trump appointed. A trend is already emerging where only Trump's proteges are ready to vote in favor of rate cuts. What is Trump trying to achieve next? Naturally, to increase the number of his proteges on the FOMC. If with Kugler Trump won an easy victory, with Cook he has a tough struggle ahead. This week the Supreme Court ruled that Cook's dismissal was unlawful, and found the grounds for her removal insufficient. Note that this is a Fed governor, not a McDonald's worker—formal grounds are not enough for her removal. Cook's guilt was not proven, and Trump might as well have cited "traffic violations" as the reason for firing her. The Court explicitly ruled that the administration provided no evidence of Cook's guilt, and removal from office cannot happen based on conjecture or speculation. Moreover, the Court pointed out that any alleged violation of the law with her mortgage occurred before Cook took office at the Fed. Trump's team announced it will appeal this decision, which doesn't surprise anyone. Trump is ready to contest any decision that goes against him to the very end. The only question is, will that end be victorious? Wave Picture on EUR/USD:Based on my analysis of EUR/USD, the instrument continues to build a bullish trend segment. The wave structure still entirely depends on the news background related to Trump's decisions, as well as the internal and external politics of the new Administration. The objectives of the trend segment could extend to the 1.2500 area. Therefore, I continue to consider buying the pair with initial targets near 1.1875, which coincides with the 161.8% Fibonacci level, and above. Wave Picture on GBP/USD: The wave structure of the GBP/USD instrument remains unchanged. We are dealing with a rising, impulsive trend segment. Under Trump, the markets can expect a significant number of shocks and reversals, which may have a substantial impact on the wave picture. However, at the moment, the working scenario remains intact, and Trump's policy is unchanged. The objectives for the bullish trend segment are near the 261.8% Fibonacci level. At this time, I believe the corrective wave 2 in 5 has ended. Thus, I still advise buying with a target of 1.4017. The Basic Principles of My Analysis: Wave structures should be simple and understandable. Complex structures are harder to trade and often involve changes.If you are not confident about the market situation, it's better not to enter.Absolute certainty about price direction never exists. Always use protective Stop Loss orders.Wave analysis can be combined with other forms of analysis and trading strategies.The material has been provided by InstaForex Company - www.instaforex.com

The inflation growth reports published this week in the US didn't help the greenback. The US dollar fell on all fronts, and the EUR/USD pair again attempted to approach the resistance level at 1.1750 (the upper line of the Bollinger Bands indicator on the daily chart). The latest inflation data showed mixed results: the Producer Price Index (PPI) unexpectedly slowed, while the Consumer Price Index (CPI) accelerated as expected. Despite this contradiction, market participants interpreted the overall result quite unambiguously—not in favor of the dollar. Why? This outcome allows the Fed to consider a rate cut of 50 basis points by the end of this year. That would be 25 basis points—this month (the probability of this scenario is nearly 100%)—and another 25 points at one of the remaining meetings this year. After the release, dovish expectations have even increased. But more on that later—let's first break down the structure of the August PPI/CPI. The published Producer Price Index slowed unexpectedly. Headline PPI (m/m) fell to -0.1% (forecast +0.3%) after rising 0.7% in the previous month. For the first time since April this year, the indicator turned negative. On a yearly basis, headline PPI dropped to 2.6% after climbing to 3.1% in July, whereas most analysts expected an increase to 3.3%. Core PPI (m/m) also dipped into negative territory (-0.1%, forecast +0.4%), and the yearly rate slowed to 2.8%, down from 3.4% previously (most analysts were expecting 3.5%). All report components came in "in the red zone." The main driver behind PPI's slowdown in August was cheaper services. Service prices last month declined by 0.2% compared to the previous month (the sharpest drop since April). In particular, prices for freight (especially overland and ocean shipping) dropped, and prices for raw materials and energy stabilized or fell (including metals, lumber, and industrial materials). All this eased cost pressures on producers. Besides, manufacturing companies (especially in engineering, transport, and construction) cut new orders (the ISM manufacturing index reflected this as well), which lowered price pressures further. Export demand also fell—foreign orders for US industrial goods declined. Plus, many companies, ahead of the August tariff deadline, increased inventories and are now selling excess stock rather than placing new orders. PPI is important because it is a leading indicator for final US inflation. The August report indicates that price pressure at the early stages of the supply chain is easing. As PPI usually leads CPI (especially for goods), this report is likely to adjust inflation expectations for the coming months downward, naturally. Meanwhile, the Consumer Price Index reflected an acceleration in consumer inflation in August. Headline CPI rose 0.4% m/m (the fastest growth rate since January), and 2.9% y/y (a yearly high since January). Core CPI increased by 0.3% m/m and 3.1% y/y. All components of the release met forecasts. One of the main drivers of CPI growth in August was housing expenses. For the first time in seven months, energy prices increased. Food, airfares, new/used cars, and transport services also became more expensive. So why did EUR/USD traders ignore the acceleration in consumer inflation, interpreting the report as negative for the greenback? First, the CPI growth in August was predictable. Inflation accelerated within expectations, so the result was largely already priced in. Second, the main drivers of the CPI were volatile components (gasoline, airfares, food), not the stable core (core services ex shelter). Third, even before publication of the August PPI/CPI, traders were confident the Fed would focus on the cooling US labor market at the September meeting—putting less emphasis on inflationary pressures. The PPI/CPI reports didn't shake that confidence. Furthermore, dovish expectations in the market have even grown: according to CME FedWatch, the probability of an additional 25-basis-point rate cut at the October meeting has increased to 82%. A September cut isn't even discussed anymore—the likelihood of a dovish scenario here is almost 100%. The market is even allowing a 12% probability that the Fed could cut rates by 50 basis points at once this month. Thus, the resulting fundamental backdrop supports further growth for EUR/USD—primarily due to US dollar weakness. The first target to the north is 1.1760 (the upper line of Bollinger Bands on the daily chart). The next, more ambitious targets are 1.1800 and 1.1860 (the upper line of Bollinger Bands on the weekly chart). The material has been provided by InstaForex Company - www.instaforex.com

If the Producer Price Index gave the green light to sell EUR/USD on the rise, the Consumer Price Index triggered the exact opposite reaction. The main currency pair was bought as prices fell. Twice in a row, it experienced a rollercoaster ride due to inflation. The ECB was relegated to the sidelines. The euro didn't react at all to new forecasts nor to Christine Lagarde's comments at the press conference. ECB Forecasts for GDP and Inflation The European Central Bank raised its inflation outlook for 2026 from 1.6% to 1.7%, and lowered its 2027 forecast to 1.9%. GDP is expected to expand by 1.2% this year and by 1% next year. Lagarde noted strong domestic demand, which allowed initial tariff problems to be resolved. The Frenchwoman considers the eurozone economy's risks to be balanced, although she previously mentioned they were skewed to the downside. Bloomberg believes that the main difficulties from tariffs are still ahead and predicts a deposit rate cut in December. This contradicts the view of surveyed experts, who believe the ECB has ended its rate cycle. If the Fed eases monetary policy, the yield differential between US and German bonds will narrow. As a result, EUR/USD should rise. Central Bank Rate and Bond Yield Spread Dynamics Recent US inflation data fits this scenario. In August, consumer prices accelerated 0.4% m/m—faster than forecasts—but matched estimates year-over-year, as did core inflation. This suggests the Fed will most likely resume monetary easing in September and will move at a reasonably brisk pace. Especially since the labor market continues to cool, initial jobless claims have jumped to the highest since October 2021. Judging by the policy divergence between the Fed and ECB, EUR/USD should confidently move higher. However, the euro has plenty of vulnerabilities that are holding it back. The political crisis in France is in full swing. Will the new prime minister be able to reach agreements with the parties, or will there be early parliamentary elections? The armed conflict in Ukraine is far from over, and Russian drones are starting to enter Polish territory. Geopolitics weighs heavily on the regional currency. Add to this the potential for rising oil prices due to secondary Western sanctions against Moscow, and it becomes clear why the euro is in no hurry to restore its uptrend against the US dollar. Technically, on the daily EUR/USD chart, there has been a bounce from dynamic support in the form of moving averages, close to fair value. The initiative is back with the bulls. If they manage to hold quotes above the upper boundary of the 1.1625–1.1725 trading range, the risk of a continued rally will increase. The focus should remain on buying. The material has been provided by InstaForex Company - www.instaforex.com

Ripple has carried out a series of large RLUSD burns in recent weeks to remove millions of the stablecoin from circulation. According to data from the RLUSD burn tracker @RL_Tracker, more than 2.7 million RLUSD were recently destroyed in a single transaction, the biggest burn in many weeks. Ripple Burns Massive Amounts Of RLUSD Crypto burns are not new to the crypto industry, especially when it comes to stablecoins. Interestingly, data from the RLUSD burn tracker, @RL_Tracker, has revealed an uptick in the amount of RLUSD burned in the past two weeks, which is worth noting. Particularly, the latest data from @RL_Tracker, which was revealed in a post on the social media platform X, shows that 2,714,248 RLUSD were recently burned at RLUSD Treasury. Blockchain records from on-chain analytics platform Etherscan confirm that these tokens were transferred into a null address from which they cannot be recovered or used, effectively reducing the outstanding supply for good. This was not an isolated occurrence. Ripple has been carrying out a string of large burns in recent weeks, with notable examples including two transactions of 1,000,000 RLUSD each on September 3 and another 1,000,000 RLUSD burn on August 29. Together, these actions have brought the total burned supply to about six million RLUSD tokens in a very short span However, these reductions have been characterized by issuances of millions of tokens in the past few days. Most recently, @RL_Tracker reported that 312,000 RLUSD were minted by the RLUSD Treasury in the past 24 hours. What’s Going On With RLUSD Burns? This back-and-forth between burning and minting is part of Ripple’s supply management cycle of RLUSD, where tokens are constantly adjusted in response to market demand and redemptions. RLUSD is pegged 1:1 to the US dollar and operates on both the XRP Ledger and Ethereum. Like other asset-backed stablecoins, it is fully collateralized by fiat reserves and subject to monthly attestations. When demand for RLUSD rises, Ripple issues new tokens into circulation. On the other hand, excess supply is no longer needed when tokens are redeemed for dollars, and Ripple burns the surplus by sending it to an inaccessible address. Stablecoin mints and burns are not unique to Ripple. Tether, the largest stablecoin issuer, regularly conducts large-scale mints and burns of USDT to adjust supply. The key difference from normal cryptocurrency burns, such as those seen with Shiba Inu, is that stablecoin burns are not carried out to create scarcity, which contributes to price action. At present, RLUSD’s total supply is around 728.7 million tokens and all minted tokens are actively being circulated. The stablecoin has a market cap of about $728 million and has seen its trading volume climb above $87 million in the past 24 hours. It also continues to hold its $1 peg firmly.

Canadian Prime Minister Mark Carney has named several mining operations among the first five major projects to undergo fast-track approval under Canada’s new Major Projects Office (MPO). Key among them is the Foran Mining’s McIlvenna Bay copper-zinc mine in east-central Saskatchewan, operating in one of Canada’s richest mineral belts, which will supply critical minerals for clean energy, advanced manufacturing, and modern infrastructure. Also included is the expansion of the Red Chris copper mine in northwestern British Columbia, which will increase annual copper production by over 15% and extend the mine’s lifespan by more than a decade, while reducing greenhouse gas (GHG) emissions by over 70% when the expanded operations are in full swing. Both projects include collaboration with Indigenous Nations — the Peter Ballantyne Cree Nation in Saskatchewan and the Tahltan Nation in B.C. — underscoring the government’s emphasis on Indigenous partnership in mining operations. These mining projects are part of a broader strategy to both build economic resilience and support Canada’s transition to clean energy. In particular, the government intends for the MPO to close regulatory and permitting gaps and ensure that financing plans are credible, so proponents can make investment decisions with greater certainty and speed. A priority for the MPO will be to help more critical minerals projects get to final investment decisions within a two-year window. This will ensure that Canada’s critical minerals industry can grow and help the energy transition. The inclusion of McIlvenna Bay and Red Chris reflects an effort to position Canada as a powerhouse in the extraction and upgrading of critical minerals — like copper and zinc — that are essential for electric vehicles, renewable energy infrastructure, and low-carbon manufacturing. By fast-tracking these projects, Ottawa aims to generate jobs, stimulate local economies, and meet growing global demand, while aligning with climate targets and Indigenous rights. The other projects referred to the MPO are LNG Canada Phase 2 in Kitimat, B.C., which would double LNG Canada’s output; the Darlington New Nuclear Project in Bowmanville, Ont. — Canada’s first G7 small modular reactor; and the Contrecœur Terminal Container Project near Montréal, which would expand the Port of Montréal’s capacity by about 60%. Together with the two mining ventures, these initiatives reflect the federal government’s priority of expediting critical energy and resource projects that underpin Canada’s transition to a net-zero economy. Carney said the government’s strategy is to accelerate nation-building projects while maintaining standards and partnerships: “At this moment of transformative change, Canada’s new government is focused on delivering major projects to connect our communities, empower Canadian workers, and build Canada’s strength. With the first in a series of new projects, we will build big, build now, and build Canada strong,” he said.

Log in to today's North American session Market wrap for September 11 Markets woke up to a fresh jolt after the US CPI release, which came in broadly as expected at 0.3% MoM, but nonetheless shifted sentiment. The immediate reaction saw the US Dollar tumble, only to settle back into its recent support range, leaving traders guessing on the next breakout. In contrast, US equities surged, with the Dow Jones, Nasdaq and S&P 500 pressing fresh all-time highs, as optimism for a 50 bps FOMC cut keeps creeping back into the picture. The FED Watchtool is showing mixed pricing for the upcoming meeting and participants now await for any comments from WSJ's Timiraos for any further signs. Ethereum and the broader crypto market, however, remain hesitant, unable to mirror the ecstatic risk appetite driving equities – consolidation continues, waiting for a stronger catalyst. Markets will now turn even more impatient for next week's FED Meeting (September 17th) amid the ongoing blackout period which prevents Federal Reserve speakers from commenting on Policy and Economic outlooks. Read More:Ethereum tries to gather momentum after the CPI reportUS Indices open higher after the US CPI report – Dow Jones and S&P 500 technical outlookA hesistant FX Market after the as-expected September CPI release – Technical levelsCross-Assets Daily Performance Cross-Asset Daily Performance, September 11, 2025 – Source: TradingView Volatility in the past 24 hours has stayed relatively restrained despite initial strong reactions. Ethereum saw most if its gains before the 8:30 release. Consequently, Equities took the podium. Gold and US Bonds posted a strong initial reaction but gave back most of their games in a risk-asset rebalancing. A picture of today's performance for major currencies Currency Performance, September 11 – Source: OANDA Labs The US Dollar got rejected after the CPI which coincides again with the ongoing rate cut-pricing theme and finishes the lowest of majors after a gradual but persistent selloff. The DXY is still hanging at the lows of its most recent range. With the three sessions left before the biggest FOMC meeting in years, it will be interesting to see if participants end up taking a directional bet until then. The AUD is at the other end of the FX picture, seeing a consequent rise in the past two sessions and snatches new highs on the year against the US Dollar. A look at Economic data releasing in tonight and tomorrow's sessions For all market-moving economic releases and events, see the MarketPulse Economic Calendar. Some calm markets could be expected looking forward amid a lack of much market-changing data. Keep an eye on tomorrow's University-of-Michigan inflation expectations (10:00 A.M. ET) as today's CPI report will affect the way participants will consider forward looking tariff effects. GBP traders will have to stay awake for the 2 A.M. UK GDP report – This may provide a kicker to the dormant FX market. The action may just await for next Wednesday's FOMC to really get going again. Safe Trades! 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.

Canadian miner Northern Graphite (TSXV: NGC) plans to raise up to C$2.2 million ($1.6 million) on the stock market as it builds on a recent federal lifeline extended to North America’s sole graphite mine. Up to 20 million common shares will be sold at C$0.11 apiece in a non-brokered private placement, Northern Graphite said Thursday in a statement. Net proceeds will be used to start a feasibility study on a planned battery anode material plant in Baie-Comeau, Quebec, and for working capital and corporate expenses. News of the offering comes less than a month after the federal government loaned Ottawa-based Northern Graphite money to boost the company’s main Lac des Îles mine in Quebec. Canada’s C$6.2 million repayable contribution is expected to finance three-quarters of the eligible costs for an extension of the mine’s pit to increase output of the critical mineral. It would help keep the mine in operation and allow the company to continue to serve industrial customers while pursuing a goal of becoming a key supplier to growing defence and battery markets in North America, CEO Hugues Jacquemin said Aug. 26. Work ASAP Northern Graphite’s goal is to break ground as soon as possible to ensure a continuous flow of material. First production from the new zones could take place in six to eight months, the company said. In the meantime, Northern Graphite plans to continue processing ore from existing pit and ore stockpiles through the third quarter and fulfilling orders from inventory thereafter. Lac des Îles has faced operational uncertainty due to a slowdown in the global electric vehicle market, leading to falling prices in battery minerals. Earlier this year, Northern Graphite said it would shut the mine down by the end of 2025 unless it secures C$10 million for an expansion. Located about 150 km northwest of Montreal, the mine has been in operation for 35 years, serving mostly industrial clients such as foundries or carmakers. It supplied 12,000 tonnes of graphite concentrates last year. 2024 resource The pit extension is based on the mine’s January 2024 resource, which outlined 3.3 million indicated tonnes at an average grade of 6.4% graphitic carbon, containing around 213,000 tonnes of the mineral. The site also holds 1.4 million inferred tonnes averaging 7.4% graphitic carbon containing about 106,000 tonnes of the mineral. The stock sale announced Thursday is subject to the receipt of all requisite approvals, including the final acceptance of the TSX Venture Exchange, Northern Graphite said. Shares sold in the private placement will be subject to a statutory hold period of four months from the date of issuance. Northern Graphite envisions starting construction of the Baie-Comeau facility as soon as next year, with operations beginning in 2027. Annual capacity would initially be about 20,000 tonnes, with potential for expansion. The proposed plant is currently awaiting power allocation from Hydro-Quebec, the provincially owned electricity producer. Shares of Northern Graphite fell 6.5% to close at C$0.145 on Thursday in Toronto, giving the company a market value of about C$19 million. The stock has ranged between C$0.045 and C$0.20 in the past year.

SOL Strategies Inc., the company that grew out of Cypherpunk Holdings, made its Nasdaq debut this week under the ticker STKE. According to reports, the move converts the company’s Canadian listings into a US trading venue and gives American investors direct access to a firm that holds a sizable Solana treasury. The firm’s SOL holdings were valued at roughly $83 million–$94 million around the time of the listing, and SOL token prices were trading in the $214–$220 range as markets reacted. Nasdaq Debut And Trading Volatility According to market watchers, STKE opened around $12.85 on Nasdaq before tumbling to roughly $8.18 in early trades, showing heavy volatility in the first session. The company still maintains a presence in Canada, where it trades as HODL on the Canadian Securities Exchange, and its OTCQB shares (CYFRF) are being migrated into the Nasdaq listing. Reports have disclosed that the early price swings were driven by speculative flows and the usual market churn that follows a high-profile uplisting. A Bigger Picture On Holdings SOL Strategies has been built as a Solana-focused treasury and operational group. It runs validators, takes part in staking, and invests in projects inside the Solana ecosystem. The company’s holding size puts it among notable North American SOL treasuries, though some peers hold far more. For example, coverage shows Upexi Inc. holds about 1.9 million SOL, which was valued at roughly $319 million, while DeFi Development Corp holds about 1.18 million SOL, worth about $198 million at market rates cited in reports. Market Reaction And Investor Interest According to market coverage, the Nasdaq listing gave SOL Strategies fresh visibility and attracted both retail traders and institutional curiosity. The share-price swings were large enough to draw headlines, and trading volume spiked as investors weighed the risks and rewards of a treasury-backed crypto firm now trading on a major US exchange. Some traders treated STKE as a way to get indirect exposure to SOL, while others saw it as a pure equity play in a niche operator. Regulatory And Competitive Issues SOL Strategies is smaller than several competitors, raising questions about scale and sustainability if SOL volatility returns. Regulators and market watchers will likely keep a close eye on how crypto treasuries are presented to investors, and on disclosures about staking, validator income, and treasury management. Featured image from Google Images, chart from TradingView

Crypto analyst Whale Guru has outlined his targets for altcoins on their next massive pump to the upside. He predicted that the Ethereum price would reach as high as $25,000 and expects the XRP price to reach triple digits. XRP Price To Reach $300 As Ethereum Rallies To $25,000 In an X post, Whale Guru predicted that the XRP price would reach $300 as Ethereum rallies to $25,000. He highlighted these price levels as his targets for the next pump to the upside. Meanwhile, the analyst also predicted that SOL would reach $2,000, DOGE would reach $5, SUI would reach $10, HYPE would reach $400, WLFI, and PENGU would both reach $10. However, Whale Guru didn’t provide any basis for these ambitious targets for Ethereum, XRP, and the other crypto assets he mentioned. Notably, a rally to $300 for the XRP price represents a 100x increase from its current price. This is one of the largest gains among all the cryptocurrencies, the analyst mentioned. There are several factors that members of the XRP community have alluded to, which could spark massive gains for the XRP price, although the $300 target remains far off. One of these factors includes the imminent launch of the XRP ETFs. Community member Finance Bull recently highlighted the ETFs as what could be the next institutional catalyst for XRP. The ETFs are expected to have a similar impact to the one the Bitcoin and Ethereum ETFs had on BTC and ETH, respectively. Notably, Canary Capital CEO Steven McClurg has predicted that the XRP ETFs could record up to $5 billion in inflows in their first month of trading, which is bullish for the XRP price. He also believes that the XRP ETFs could outperform the Ethereum ETFs. XRP Targets $4.50 As Momentum Builds Crypto analyst CasiTrades has provided a more conservative target for the XRP price, stating that it is targeting $4.50 as the consolidation period ends and momentum builds. In an X post, she revealed that the altcoin has broken out of its months-long consolidation and that confirmation of the breakout is occurring with the test of the $3 level now in play. CasiTrades stated that the next areas to watch are $3.08 and $3.27 when the XRP price clears $3. She indicated that the key is for major Fibonacci levels to turn into support, so a breakout to either of those prices will set up a clean backtest to the key Fib levels. These key levels are the .382 support at $3 and the .236 resistance at $3.25. She added that the Fibonacci extensions point toward the $4.50 zone as a breakout target. At the time of writing, the XRP price is trading at around $3, up almost 2% in the last 24 hours, according to data from CoinMarketCap.

US equities surged again after the CPI release, with all major indices — S&P 500, Nasdaq, and Dow Jones — notching fresh all-time highs. The US dollar has been struggling with rate markets are now progressively betting ofn a 50 bps FOMC cut, though expectations remain fluid. Indeed, the immediate post-CPI reactions took some of that pricing back, before re-upping the odds just above 10%. Players will now expect hints from journalists such as Wall Street Journal's Timiraos, the usual suspect for pre-FOMC FED insights. However, cryptocurrencies are lagging this risk-on rally. While Bitcoin rebounded since its past week $108,000 lows, Ethereum is still trying to regain upside momentum. The broader altcoin and crypto complex has yet to reflect the same strength seen in equities and other risk assets since the morning session. With traders now turning to next week’s FOMC decision, crypto markets await a progressing technical outlook. Let's peak at the current Crypto Market picture before diving in a multi-timeframe Ethereum analysis. Read More:US Indices open higher after the US CPI report – Dow Jones and S&P 500 technical outlookA hesistant FX Market after the as-expected September CPI release – Technical levelsThe Crypto Market picture in today's CPI session Crypto market overview, September 11, 2025 – Source: Finviz The Crypto picture is very mixed overall – watch other risk assets and market leaders (Solana in today's session) to spot how flows evolve. A multi-timeframe Ethereum analysisEthereum Daily Chart Ethereum Daily Chart, September 11, 2025 – Source: TradingView Since our last analysis of the second largest crypto, prices have consolidated above the 4,200 to 4,500 momentum pivot. Momentum has now decreased from extremely overbought levels back to right above neutral which allows for further potential action to develop. The combination of both price and momentum consolidation provides a floor for higher volatility in the upcoming weeks. Despite the lack of momentum, if sentiment stays positive as it is, ETH has formed a floor on which to bounce on. The balance to this potential outcome however would be a failure to rebound from here which can lead to a lower interest in cryptos, which would be detrimental for the digital asset Market. Momentum attracts momentum! Ethereum 1H Chart Ethereum 1H Chart, September 11, 2025 – Source: TradingView Looking closer highlights how strong the ongoing range is. Buyers will have to maintain the upward trendline as a few breakout attempts got rejected during the ongoing session. Consolidating above $4,400 could provide the necessary boost for an upside breakout, but will require a concrete breakout above the consolidation highs (around the $4,500 level). Levels of interest for ETH trading: Support Levels: Consolidation Support 4,250 to 4,280$4,200 to $4,500 consolidation Zone (getting tested)$4,000 to $4,095 Main Long-run Pivot$3,500 Main Support ZoneResistance Levels: Consolidation resistance $4,480 to $4,500$4,950 Current new All-time highs$4,700 to $4,950 All-time high resistance zonePotential main resistance $5,230 Fibonacci extensionA look-back at the ETH/BTC chart ETH/BTC Daily Chart, September 11, 2025 – Source: TradingView Crypto market depth is currently stalling as translated by the most recent slowdown in the ETH/BTC ratio, however with the correction currently stalling, it will be time for crypto aficionados to flex their muscles to lift crypto market sentiment. A rise in the crypto ratio is typically favorable for the Market and with ETH's most recent top, other altcoins are looking at their big brother to get started again. On the other hand, Solana is still powering through. Keep an eye on the ETH/SOL relative performance. A potential rally from here due to the ongoing consolidation may change market dynamics, therefore keep a close eye on the general crypto market sentiment. Safe Trades! Follow Elior on Twitter/X for additional Market News, Insights and Interactions @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.

The XRP price is drawing attention this week as traders watch for signs of a potential upward move. Market analyst Egrag Crypto says the token is pressing hard against a falling wedge pattern and could be close to breaking out. According to the analyst, the lines are converging on the current price, and this could be the stage where momentum shifts quickly. XRP Price Pushes Toward Breakout From Falling Wedge Egrag Crypto says XRP is standing on the edge of what he calls a “significant structural breakout.” For weeks, the token has been moving inside a falling wedge, a formation that often shows pressure building before a breakout. Currently, that pattern is tightening, and the lines are closing in on the price. He believes this is the moment when bulls need to step in with strength. Egrag says the mood among buyers is clear. Bulls are not only waiting; they are preparing for a rally. Momentum is starting to emerge in real time, and every slight upward push indicates that buyers are poised to test the resistance. The wedge formation makes this moment more critical because it often signals that a big move is near. According to his analysis, the XRP chart is no longer in a quiet phase. Instead, it is pressing against a level where pressure could burst. If the wedge breaks to the upside, XRP could start a new bullish phase that traders have been waiting for. Egrag’s message to the XRP community is it is time to rally. $3.13 Becomes The Key Level To Watch Even with the breakout forming, Egrag Crypto points out that one level matters more than the rest. That number is $3.13, and it is the point that could decide the entire move. He explains that without a clear break above $3.13, the setup will not confirm its strength. But if bulls manage to push past it, XRP could open the door to a new wave of powerful upward momentum. Egrag makes it clear that $3.13 is not just a chart number. It is the barrier between a market that is still uncertain and one that is ready to operate. Crossing it would prove that bulls are in control, and it could build the trust traders need to stay in the rally. For many, this price line has already become the target to watch day and night. He says the XRP community must “stay steady and strong” as the market approaches this key level. In his view, this is a turning point that could lift the token far higher than people expect. “Together we rise,” he reminds holders, pointing out that unity could make the difference when the breakout comes.

Ontario Minister of Indigenous Affairs and First Nations Economic Reconciliation Greg Rickford announced a C$61.8 million ($44.68m) investment to kick-start construction of the “corridor to prosperity,” providing road access to the Ring of Fire region. Speaking at the Building Together: Indigenous Business and Infrastructure conference in Toronto, Rickford emphasized that this infrastructure will unlock the region’s vast mineral potential — critical elements like nickel, copper, and gold that will be sold globally. The investment will fund the Main Street Rehabilitation Project in Geraldton, located in the Greenstone municipality of Northern Ontario. Rickford described Geraldton as the gateway to the Ring of Fire, and he confirmed that construction would begin this fall. For 18 years, accessing the Ring of Fire’s valuable minerals has been a challenge. Rickford highlighted that mining projects in Ontario have often been bogged down by complex regulatory processes and multiple layers of consultation, with some communities facing as many as 80 different procedural hurdles. Many of these communities have populations of just a few hundred and limited capacity, making development slow. To address this, Ontario has overhauled its approach, working directly with First Nations communities. Rickford shared that projects which once seemed only possible on paper are now actively producing hundreds of thousands of ounces of gold annually. He explained that Ontario now knows how to streamline processes without compromising environmental standards — “moving at the speed of business,” he said, while ensuring a legacy of infrastructure remains to support ongoing development. Greg Rickford, Minister of Indigenous Affairs and First Nations Economic Reconciliation and Minister Responsible for Ring of Fire Economic and Community Partnerships, makes an announcement on Sept. 10, 2025, in Toronto. CREDIT: YouTube/Government of Ontario. Investing in infrastructure isn’t just about mining. It will benefit communities, including First Nations, by improving broadband, water and wastewater systems, and providing clean energy solutions — especially electrification where diesel power is still common. With climate change shortening the seasonal window for transporting goods to remote First Nations, reliable, all-season roads are crucial. “This is more than building a mine,” Rickford said. “It’s about giving First Nations access to modern infrastructure that many take for granted.” He added that communities along the corridor, roughly spanning the distance from Toronto to Montreal, stand to gain jobs, infrastructure, and equitable participation. The first piece of this project is the five-kilometer Geraldton Main Street, which will connect Highway 11 to Highway 584, eventually linking up with the Trans-Canada Highway. This stretch will create the foundation for the future development of the Ring of Fire, including Migizi Plaza — a large service hub for commodities and machinery staging, built in partnership with First Nations. It will ensure the corridor starts with a “business-ready” environment that supports mining expansion. The Windspeaker media outlet stated after the announcement, Rickford participated in a fireside chat with Webequie First Nation Chief Cornelius Wabasse. They discussed plans with Ontario Premier Doug Ford to develop a secondary offshoot, the Webequie Supply Road, and critical infrastructure for the community, including a multi-purpose facility. Key to ongoing development will be capacity building, training, and employment initiatives such as Red Seal Heavy Machinery certification. Wabasse noted that following the guidance of Elders and his community, he is committed to working with industry and government to foster prosperity. He sees mining and infrastructure projects as vital opportunities for his community’s future.

The US Federal Reserve prepares to announce its latest decision on interest rates. This highly anticipated event has the potential to act as a powerful catalyst for the Bitcoin market, with many analysts and investors speculating that a rate cut could trigger a significant breakout. How A Rate Cut Could Unleash The Next Bitcoin Bull Run The global financial community is entering a crucial week. According to a post on X by crypto commentator Thomas Lauder, in 7 days, the US Federal Reserve will decide whether to cut dollar interest rates, a move that could have far-reaching effects on both traditional finance and crypto markets. This rate cut could give a strong boost to the price of Bitcoin and other financial assets. Lauder explains that a Federal Reserve interest rate cut would have a direct impact on financial markets by lowering the cost of borrowing and injecting liquidity into the market, a dynamic that has historically benefited Bitcoin and other risk assets. The market’s anticipation is high, as evidenced by predictions on Polymarket, where 83% of bettors are forecasting a 25 basis point cut, and another 14% are betting on an even larger reduction. In the meantime, the market operators are positioning themselves ahead of the news. As a result, Lauder predicts that Bitcoin will experience days of high volatility leading up to the announcement. Why Companies Are Accumulating Bitcoin Relentlessly While the other analyst believes that the coming days will likely see high volatility for BTC as the Fed announces the interest rate cut, notable institutional accumulation is still ongoing. MikeWMunz has explained why certain companies are accumulating Bitcoin at a feverish pace even as their share prices stall. These companies are not weak in lettuce hands, and they are capable of delaying the dopamine hits for when it’s appropriate. However, many of these companies are set to be included in the largest indexes, ensuring they receive steady passive flows as Bitcoin executes its next parabolic move upward. MikeWMunz describes this as a lightning in a bottle, which is a perfect moment of strategy, market mechanics, and timing. Furthermore, he pointed out that the shortsighted views and lack of vision of many investors prevent them from understanding this inevitable outcome. The groundwork and foundation for a new financial era is being built right now, and the lack of patience and inability to see this bigger picture is what holds back many investors from realizing the full potential of this shift. “This does not apply to the leaders of these companies, who are pioneering the ships in their respective markets,” he mentioned.”

India is exploring the option of securing rare earth minerals from Myanmar’s rebel‐controlled mines in an effort to reduce its reliance on Chinese supply, Reuters said. Officials from India’s Ministry of Mines have reached out to the Kachin Independence Army (KIA), a powerful insurgent group that controls a major rare earth belt in northern Myanmar, with eyes on a potential supply agreement, it reported earlier this week, citing people familiar with the matter. The talks, according to Reuters sources, revolved around KIA sending rare earth samples from its mines to India for lab testing to ensure their industrial applicability. A separate source from the KIA said the rebel group has already started gathering samples and is assessing the viability of bulk exports. Indian concerns Rare earths — key inputs in electric vehicles, wind turbines and military hardware — have become a major focus for New Delhi, especially after China moved to tighten its shipments of permanent magnets made from these minerals, leveraging its near-monopoly status in the rare earth supply chain. Concerned over the exposure to supply shocks, Indian Prime Minister Narendra Modi held a meeting with Myanmar junta chief Min Aung Hlaing, whose forces are battling the KIA, with discussions centering around rare earth mining deals, Reuters recently reported. However, no deal has been announced since those talks, nor were any other detail provided. India’s outreach to the KIA represents another avenue through which it could gain access to Myanmar’s rare earths. “If China is liaising with the KIA to secure access to rare earths, why should India be left behind?” an independent analyst told Reuters. “That competition also frames this outreach.” Myanmar’s Kachin state in the north is among the world’s few sources of heavy rare earths like dysprosium and terbium, prized for high‐performance magnets. State-owned miner IREL, which was amongst the parties involved with the KIA discussions, last year sent a team to Kachin to study resources. The KIA has consolidated control of key mines amid civil conflict since the military coup in 2021. China already sources some material from the area, though its ties with the rebels remain uneasy due to the ongoing civil war, Reuters said. Meanwhile, India is also looking to address its lack of industrial-scale facilities to process rare earths. has sought partnerships with Japanese and Korean companies to begin commercial production of rare earth magnets. Long-term partners? According to Reuters, India’s collaboration with KIA may result in a longer-term supply arrangement, though the plan faces significant logistical hurdles. The mines lie in remote, mountainous terrain with limited infrastructure, and existing routes primarily funnel material into neighboring China. While IREL has been part of these discussions, the state prefers that a private company assume responsibility for transport, its sources said. “Even if shipments to India were secured, the country would struggle to process them without Chinese expertise,” said Nabeel Mancheri, a Belgium-based rare earths analyst. “Theoretically, if India gets these materials, it could separate and turn them into usable products,” Mancheri added. “But scaling up to produce meaningful quantities for global markets would take time.”

In 21st-century mining, a country’s competitiveness depends not only on what lies beneath the ground but also on what happens in the offices of regulators. This shows how Chile, Australia, Peru, China, and the United States are following different regulatory paths, and how these decisions are defining where the next wave of mining investment will flow. Chile: Higher taxes, but more certainty The 2023 royalty reform raised government revenues through a new ad-valorem rate plus a margin-based tax but also introduced ceilings on total tax burden (46.5% for the largest producers). This combination increases state income while assuring investors that taxation will not rise indefinitely. In parallel, the new 2025 Sectoral Permits Law promises to cut approval times by 30 to 70%, which could increase project Net Present Value (NPV) by 15%. Australia: ESG leadership at a cost At the state level, Queensland’s 2022 coal royalty hike pushed top marginal rates to 40%, boosting fiscal revenues but discouraging new coal investment. Federally, the Nature Positive Plan proposes a national Environmental Protection Agency and stricter biodiversity zoning, raising standards and potentially lengthening approval processes. The Safeguard Mechanism reform of 2023 now obliges mines emitting more than 100,000 tonnes of CO₂ to reduce intensity each year or buy credits, effectively placing a carbon cost on operations. These measures align Australia with global ESG expectations, consolidating its image as a secure and responsible supplier, but at the price of higher costs and longer lead times. Peru: Digital efficiency Instead of new fiscal burdens, Peru chose the path of administrative efficiency. In 2024, authorities announced 21 measures: a five-day admissibility review for EIAs, integrated processing of water and environmental permits, early prior consultation with Indigenous communities, and faster mine closure plan approvals. These were coupled with the launch of a digital platform, enabling companies to track and submit permits online. Additionally, these reforms gave artisanal miners more time to formalize, reducing informality but prolonging environmental risks. The combined effect is a more predictable and efficient system that supports exploration and development, while keeping environmental safeguards intact. China: Strategic lithium With the revision of the 2024 Mineral Resources Law, which comes into force in 2025, China declared lithium a strategic mineral. This raised environmental requirements, set a minimum content of 0.4% Li₂O for a deposit to qualify as lithium ore, and centralized approval of mining rights in the Ministry of Natural Resources. China also consolidated its rare earth sector into state-controlled groups and extended export controls on gallium, germanium, and graphite. These measures raise entry barriers, enforce higher environmental standards, and reinforce state dominance in global battery and clean-energy supply chains. United States: Speed as weapon In 2025, an Executive Order reshaped mining regulation under the logic of national security. By invoking the Defense Production Act and expanding FAST-41 coordination, critical mineral projects can now receive permits in as little as 28 days. The administration also promoted seabed mining and mine-waste recovery, extending extraction into non-traditional domains. These steps radically improve NPVs and timelines for designated projects, but the compression of review periods raises risks of litigation and environmental pushback, potentially undermining long-term certainty. Regulation, it seems, has become the new mining resource. Today, the value of a project is not only extracted from the ground — it is also regulated. While Chile and Peru move toward efficiency and certainty, Australia and the U.S. diverge between tighter environmental control or greater speed, and China strengthens its sovereignty over strategic minerals. The lesson is clear: in modern mining, geology opens the door, but regulation decides who walks in. Summary of Regulatory Changes CountryMajor Regulatory Changes (2022–2025)ObjectiveCurrent StatusExpected Mining ImpactChilePermits reform (2025), new royalty (2023), concessions adjustments, national lithium policyStreamline processes; ensure environmental standards; state involvementEnactedFaster approval, higher certainty, balanced fiscal and governance modelAustraliaNature Positive Plan (federal ESG standards, EPA), climate safeguard reforms, boosted coal royalties (2022)Enhance environmental/societal oversightMixed (EPA pending)Higher costs and scrutiny; positioning minerals as ESG-oriented, but with delay riskPeru21 measures to accelerate permits related to environmental impact, water permits and closure plans; early consultation; digital one-stop platformReduce exploration bottlenecksPhased rolloutQuicker exploration phase; improved investment climateChinaNew Mineral Resources Law (2024), export controls, rare-earth industry consolidationSecure strategic supply; raise sustainabilityEnacted/ActiveIncreased state control, environmental mandates; reduced export dependencyU.S.2025 Executive Order leveraging DPA, FAST41 status/dashboard, emergency permitting (28-day max), seabed EOBoost critical minerals; streamline permitting; reduce foreign relianceUnder implementationFaster approvals, federal coordination, but environmental oversight dilution risks — Pablo Faúndez is Practice Leader of Environment and Society at GEM Mining Consulting.