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In a move that surprised some and thrilled others, the U.S. Department of Labor has officially scrapped its earlier warning about crypto in retirement plans. The original message? Be extremely careful if you’re thinking about adding Bitcoin or other cryptocurrencies to 401(k) accounts. Now, that warning is off the table. The Labor Department’s reversal means crypto in 401(k) plans is now a viable option for plan sponsors under Trump’s guidance. The Old Rule: Proceed With Caution Back in 2022, under the Biden administration, the Labor Department told plan managers to think twice before touching crypto. They were worried about the usual stuff: wild price swings, scams, unpredictable regulations. And to be fair, those concerns weren’t made up. Bitcoin has had its ups and downs, and the crypto world isn’t exactly known for being boring or stable. The guidance didn’t block crypto investments outright, but it did raise a big red flag. The message was clear: if you put crypto into a retirement plan, you’d better be ready to defend it, because the government would be watching closely. The New Rule: You Decide Now, things are different. The Department of Labor has pulled back and said it’s not going to single out crypto anymore. Instead of warning plan sponsors not to go there, it’s leaving the decision up to them. That doesn’t mean crypto is suddenly risk-free. It just means the federal government isn’t leaning over anyone’s shoulder anymore. If a retirement plan wants to include Bitcoin or Ethereum, that’s now between the plan’s fiduciaries and their participants. The only rule that still stands is the basic one under ERISA: do what’s best for the people in the plan. Make smart decisions. Minimize unnecessary risks. But how you interpret that is up to you. DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now Part of a Bigger Crypto Pivot This change didn’t come out of nowhere. It’s part of a wider shift under Trump’s leadership, where crypto is being treated less like a threat and more like a serious part of the financial system. - Price Market Cap - - - 24h 7d 30d 1y All Time Log Trump has started accepting crypto for campaign donations. He’s suggested creating a national reserve of digital assets. And his media company recently made headlines for exploring a multi-billion-dollar Bitcoin strategy. Taken together, it’s pretty clear his team sees crypto as more than just internet money. Don’t Get Too Comfortable That said, this doesn’t mean every 401(k) plan is about to start offering crypto. Most plan sponsors are still cautious, and for good reason. Crypto is still volatile. It’s still hard to value. And it comes with unique challenges like custody and security. Financial planners usually recommend keeping any crypto exposure small, maybe just a sliver of your total retirement savings. Something like 1 to 3 percent, depending on your risk tolerance. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in May 2025 What It Means for You If you’re someone who wants to see crypto in your retirement plan, this is a step in that direction. It won’t happen overnight, but at least now, the federal government isn’t making it harder than it needs to be. And if you’re more cautious? Nothing’s changed there either. You can still stick to what you know. Stocks, bonds, mutual funds, they’re all still on the menu. What’s changed is that crypto just got a seat at the table. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways The U.S. Department of Labor has dropped its previous crypto warning, allowing 401(k) plans to include Bitcoin and other digital assets. This marks a shift from earlier guidance that discouraged plan sponsors from offering crypto due to volatility and regulatory uncertainty. The change aligns with the Trump team’s broader pro-crypto pivot, including campaign donations and proposals for a national digital reserve. While crypto is now permitted, plan fiduciaries must still act in participants’ best interests and manage risk under ERISA guidelines. Most retirement plans are likely to remain cautious, but this policy change opens the door for future crypto adoption in 401(k) accounts. The post Crypto Cleared for 401(k)s as Trump Team Reverses Course appeared first on 99Bitcoins.

The Trump name got loud applause at the Bitcoin 2025 conference in Las Vegas. Donald Trump Jr. and Eric Trump showed up in person, carrying a message that the family isn’t just paying attention to crypto. The plan puts Trump Media right in the center of the crypto conversation, showing it’s not just a media company but a financial player with bold ideas. A Change from Skeptics to Supporters It wasn’t long ago that the Trump family didn’t think twice about crypto. Their world was real estate, finance, and legacy institutions. But times have clearly changed. At the Vegas event, the message was clear: they’ve gone from sitting on the sidelines to actively betting on Bitcoin’s future. JUST IN: Eric Trump says "everyone in the world wants #Bitcoin, everybody is buying Bitcoin" "0.1 BTC is going to be worth an absolute fortune" pic.twitter.com/0942a3dSWI — Bitcoin Magazine (@BitcoinMagazine) May 28, 2025 And it’s not just about talking points. This is part of a bigger trend. Former President Trump has recently embraced digital assets after years of calling them risky or unnecessary. His campaign now takes crypto donations, and he’s promised to roll back regulatory pressure if he gets back in the White House. They’re Not Happy With the Old System Part of the family’s new stance comes from growing frustration with how money works in the traditional system. Both Trump sons pointed to what they see as a lack of personal control in banking, and they say crypto offers something better. In their view, digital assets let people move money on their terms, without red tape or the usual hoops. Their comments tapped into a familiar feeling for a lot of people in the room. In an industry built around the idea of individual control, the Trumps positioned themselves as champions of financial freedom, or at least the version of it that runs on Bitcoin. DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now Trump Media’s $2.5 Billion Bitcoin Play More than just talk, there’s a serious financial move on the table. Trump Media & Technology Group, the company behind Truth Social, is aiming to put together a $2.5 billion Bitcoin treasury. That would make it one of the largest crypto holdings by any private US company. - Price Market Cap - - - 24h 7d 30d 1y All Time Log This is part of a bigger strategy to blend media, money, and influence. Whether it’s about trust in the system or staying ahead of the curve, they want to be seen not just as supporters of Bitcoin, but as players who are putting real value into it. The Politics of Bitcoin Just Got Louder Of course, mixing crypto with politics always raises questions. Some see the move as bold and forward-thinking. Others are already sounding alarms about conflicts of interest, especially if public policies start aligning too closely with private investments. But no matter where you stand, it’s hard to ignore what’s happening. Bitcoin used to be a niche topic in politics. Now it’s showing up in campaign speeches, on debate stages, and at major conferences, with the Trumps leading the charge. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 A Sign of What’s Coming The Trump family’s full-court crypto press is just one example of how mainstream digital assets have become. What used to be a fringe movement is now being embraced by political figures, corporate leaders, and everyday investors alike. Whether or not their Bitcoin bets pay off, one thing’s clear: crypto is no longer on the sidelines of the national conversation. It’s front and center, with the next election and beyond set to shape where it goes from here. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Donald Trump Jr. and Eric Trump used the Bitcoin 2025 conference to spotlight Bitcoin as a core part of the Trump family’s financial and political vision. The brothers signaled a shift from crypto skepticism to full support, describing Bitcoin as essential to wealth protection and freedom. Eric Trump took aim at traditional finance, calling it outdated and positioning Bitcoin as a faster, more transparent alternative. Trump Media & Technology Group is reportedly planning to buy $2.5 billion worth of Bitcoin, aligning the brand with major institutional holders. The move raises questions about potential conflicts of interest if Trump re-enters office while heavily invested in Bitcoin. The post Donald Jr. and Eric Trump Spotlight Bitcoin at Las Vegas Conference appeared first on 99Bitcoins.

Bitcoin couldn’t retake the $110k mark, facing a big sell-off, turning the crypto market into a bloodbath. What game is Price Volume in 24h Price 7d playing, and what can we expect from it? Is it the geopolitical situation or pure profit taking below the all-time high? Shaking off weak hands before teleporting to a new ATH or a new bear starting? - Price Market Cap - - - 24h 7d 30d 1y All Time Log Bitcoin and Crypto Space Dealing With Harsh Conditions Today, Bitcoin faced a big selloff with a lot of long liquidations. This happened for various reasons, one of which was that the Fed didn’t cut rates as they said. On May 7, 2025, they announced that rates are going to stay 4.25%-4.50%. That statement marked a sentiment shift from bullish to bearish, triggering the start of controlled profit-taking and risk deleveraging among traders. FOMC minutes drop at 2PM EST today. Markets are stalling like a boomer trying to post a meme. Back on May 6–7, the Fed kept rates locked at 4.25%–4.50%. They called the economy solid and the labor market resilient. Classic Fed talk – calm on the mic, sweating behind the… pic.twitter.com/9Zt6ZRT5yx — Chapo (@El_Crypto_Chapo) May 28, 2025 DISCOVER: Best Meme Coin ICOs to Invest in May 2025 Somehow, this created a rumor that the Fed will cut the rates at the June meeting or even earlier by the end of the month. All that was not supported by any reliable information, leaving the participants in chaos. Another key factor affecting the crypto market in general is the uncertainty caused by President Donald Trump’s tariffs. These range from 10% tariffs on all imports from more than 57 countries, to staggering 145% tariffs on goods from China. That led to a tariff trade war game that has severely disrupted the market. No longs or shorts have been safe, and many liquidations have been tested. The latest development is a 50% tariff on all European Union imports, starting June 1, 2025. BREAKING: President Trump is slapping the European Union with a 50% tariff starting June 1st. pic.twitter.com/ZT6lZbH3p3 — Benny Johnson (@bennyjohnson) May 23, 2025 DISCOVER: Top Solana Meme Coins to Buy in May 2025 Another trading tension that happened earlier this year was restricting Nvidia’s GPUs from being sold to China. That resulted in a $2.58 trillion sell-off in the traditional tech market, furthermore making the crypto landscape tougher. This, as well as all regulatory and political developments, is playing a big role in crypto-behaviour. When one of the biggest, if not the biggest, industries today is taking a 180-degree turn, things can get ugly. Crypto and Bitcoin Technical Side of The Market Everything that we have said above aligns perfectly with the current technical side of Bitcoin and the whole crypto market. It is hard to say where exactly the bull run has started, but over the past two and a half years, Bitcoin has been printing higher highs. Recently, BTC printed a new ATH but shortly after went down $110k mark. From a technical point of view, this is something normal for the crypto market and especially for BTC. Profit-taking is important, and this is something everybody should do. (Source) If BTC does not manage to reclaim that region, it can form a reversed W pattern, which can send it to the $70k mark. And we all know that this is crypto, and everything is possible, and it can be violent. Another indicator that is showing bearish signs is RSI 14. While Bitcoin is printing higher highs Relative Strength Index (RSI) is printing lower highs. This is something that can be misleading, but after all, this shows relative strength. (Source) This bearish divergence can lead to some short-term to medium-term selloff, but at this point, this is completely normal. On the daily timeframe, we can see that the price is still respecting the 200 SMA and EMA trend. We can see in recent months Bitcoin wiggling all over the place, leaving both sides with huge losses or gains. Swings from $80k to $110k are well within the range of Bitcoin’s typical volatility. (Source) All that being said, this doesn’t mean we are not bullish on BTC. Short term, everything can happen, but we know Bitcoin comes stronger and ready to push for another ATH. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in May 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways The Crypto market between the US and China trade war. Is Bitcoin going to reclaim $110k mark? The post Crypto Market Down Today: Bitcoin Faced $110k Resistance appeared first on 99Bitcoins.

Log in to today's North American session recap - May 27, 2025 The US dollar was leading all majors today before the NZD took its spot, even after last evening's RBNZ cut by 25 bps. There was no major news today except for some employment in Europe, FOMC Minutes that didn't provide anything new but more importantly the NVIDIA Earnings. There has been a mistake in the first report published indicating an EPS at $0.81 instead of $0.96! US indices closed down small on the day but Futures rallied back on the correction. Bitcoin lost some ground today though still remaining in the same range - more on this coming up through the morning session. BTC finishes the North-American session down 1.32% US Oil on the other hand has had quite a green day, completing it's round up from the 60.5 level, closing around $62.40 (up 1.32%). You can read on our last analysis on US Oil here for more technical levels. A picture of today's performance for major currencies close Currency Performance, May 27 - Source: OANDA Labs /media/images/Screenshot_2025-05-28_at_7.04.20PM.width-1400.png The NZD finished on top of Forex majors, followed by the US Dollar completing its 3rd positive day. The DXY closes just below the 100.00 psychological level. The price action remains key for the upcoming days to see if markets really turned the page on US dollar weakness. The laggard of the day was the JPY down around 0.6% on the day. Gold also lagged today down 0.70%, trading around $3,270. Even though the precious metal opened at $3,375 at the beginning of the week, it remains about less than $300 from its all-time highs. Economic Calendar for the May 29th Session close MarketPulse Economic Calendar for May 29, 2025 (click to enlarge) /media/images/Screenshot_2025-05-28_at_7.05.50PM.width-1400.png The calendar for the 29th of May is packed with key data. The morning N.A. session will be starting with US Core PCE Data and Canada Q1 GDP numbers at the same time. Expect movement as the FED and markets players are all expecting to see how the data unfolds from tariff effects. The afternoon will only have a few Central Bank speakers with the most important being Goolsbee at 10:40 E.T. and Kugler at 15:00 E.T. The Japan CPI can also be a market mover as a beat would force the hand from the Bank of Japan to adjust their policy faster. For now, no moves are expected from the Central Bank until October. The Year over Year number is expected at 3.5% - the Data releases at 19:30. 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.

Powell laid out in his post-meeting press conference and what has already been echoed in recent speeches by other Fed officials. Persistent uncertainty around trade policy, risks to both sides of the Fed’s dual mandate (employment and inflation), and the ongoing debate about which side presents the greater medium-term risk are keeping the FOMC in wait-and-see mode. So far, nothing in the incoming data through early May appears to have shifted the Fed’s stance or prompted a lean toward any specific policy path. Participants agreed that with growth and the labor market remaining solid, and policy already moderately restrictive, the Fed is well positioned to stay patient. The minutes note that heightened uncertainty warrants a cautious approach until the full economic effects of recent government policy changes become clearer. A reminder on what the FED is waiting to cut Those hoping for more concrete guidance will find little in these minutes. The Committee reiterated that future decisions would be guided by a broad set of data, the economic outlook, and the balance of risks. New York Fed President John Williams recently stated that clarity on the impact of tariffs likely won’t emerge until the June or July meetings, while Cleveland FED's Hammack and Atlanta’s Bostic (both non-voting members this year) suggested it could take until late summer or even three to six months to gather enough information. For now, the Fed is keeping its options wide open. It is expected that to that we get 25bp rate cut in September, as labor market softness is expected to outweigh residual inflation concerns by then. While uncertainty around policy shifts clouds the forecast, we believe the current market pricing—reflecting only about a 45% chance of a cut by September—is underestimating the likelihood of easing. DXY Intra-Day Chart close DXY 1H Chart, 28 May. Source: TradingView /media/images/Screenshot_2025-05-28_at_3.30.39PM.width-1400.png The FOMC Minutes did not add much to the volatility as the DXY is consolidating just below the 100.00 Psychological Level. Both the MA 20 and 200 are acting as support. It is notable that the DXY broke out of the past week's descending channel. 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.

Magrathea, a California-based start-up developing technology to produce carbon neutral light metal from seawater, has launched its next-generation magnesium chloride electrolyzer to split magnesium salts to make magnesium metal at its pilot facility in Oakland. The launch is a component of its plans to establish the first new commercial-scale magnesium electrolyzer in the United States in the past 50 years, the US Department of Defense-backed company said. Magnesium unlocks a wide range of applications, such as stiffening aluminum in alloys, steel making, nuclear inputs, automotive, aerospace, and next-generation defense applications. Russia and China currently control 90% of the global primary magnesium supply and there is no significant producer in any NATO country. The company said this milestone is a crucial step to advance the technical and data framework for a future scaled plant, adding that the project positions Magrathea’s technology to provide American companies with access to US-based critical mineral supply chains amid shifting trade policies and export controls. “Magnesium is one of the most important critical materials, but NATO countries face a dire shortage of non-China supply,” CEO Alex Grant said in a news release. “At our core, Magrathea’s innovative technology revitalizes a proven process with our own twist for considerable efficiency improvement and expense reduction,” Grant said. “We expect to reduce the technology’s operating expenses to make it cost-competitive with alternative production methods that exist today, including in China.” Magrathea is in conversations with several major defense, chemical and mining industrial players to form a strategic partnership to scale up it technology, it said. Over the coming months, the company plans to use data gathered from the pilot-scale electrolyzer to create a scalable technical model aimed at achieving the highest efficiencies from both environmental and economic perspectives.

The Greenback has recovered some of its Sunday open losses, as the DXY touched a low of 98.65. The Dollar has rallied well in the past two sessions as Memorial Day gave strength to the USD. A contributor to this USD strength have been recent comments from Japan's Mister of Finance announcing that they would supply less JGB's - the buying of the latter weakened the JPY and some rebalancing towards US Assets. The Dollar is coming off a rough week after Friday, 16th May, Moody’s Credit Rating Downgrade led to some broad USD selling, which led to Bitcoin consolidating above prior all-time highs and Gold making a comeback towards $3,300. The Canadian Dollar on the other hand has had a fairly muted performance on the week. It's up on a week-over-week look against most majors but lost 1.17% against the USD since Monday. Major North-American stock indices are all up on the week, with the Nasdaq 100 leading the charge. You can take a look at key intra-day levels for USDCAD further in the article. US Dollar Mid-Week Performance vs Majors close USD vs other Majors, May 28, 2025 - Source: TradingView. /media/images/Screenshot_2025-05-28_at_1.05.31PM.width-1400.png The USD has seen broad strength against all majors after starting the week down small - A strong Consumer Sentiment report surely contributed to the mix. As seen before, the JPY has been the worst performer of all majors, followed by the Australian Dollar. The RBA cut rates last week giving some fundamental weakness to the currency. Other currencies haven't depreciated too much versus the Greenback, as this week hasn't seen the release of major data, expect more volatility as we approach the end of the week. CA Dollar Mid-Week Performance vs Majors close CAD vs other Majors, May 28, 2025 - Source: TradingView. /media/images/Screenshot_2025-05-28_at_1.19.54PM.width-1400.png The Loonie has had a mixed performance over the week. It's broadly unchanged on the week against most majors though it is lagging on the USD and the NZD that is holding strong even after yesterday evening's cut from the RBNZ. The CAD is also up against the AUD and the JPY but that is mostly due to the weakness of the two Asian Pacific currencies. No major data came in Canada in the beginning of this week, with some misses on low-tier data - weak Manufacturing and Wholesale trades. Intraday Technical Levels for the USD/CAD close USD/CAD 1h Chart, May 28, 2025. Source: TradingView /media/images/Screenshot_2025-05-28_at_1.36.41PM.width-1400.png USD/CAD broke out from the descending channel formed throughout the past week (in blue). Prices are now contained in a 300 pip range between the 200 MA at 1.3850 and the 20 MA at 1.3820 - a key level to watch for is the immediate pivot at 1.38150. A daily close above hints at a test of upper resistances, while a close below will point towards a retest of the channel situated at the Support 2 Key technical zones to look out for: S1: 1.3810 to 1.3820S2: 1.3790 to 1.3800S3: 1.3720 to 1.3730 R1: 1.38450 to 1.38550R2: 1.38850 to 1.39R3: 1.39300 to 1.39400 US and Canada Economic Calendar for the Rest of the Week Coming up right now is the release of the FOMC Minutes where we will get a better idea at the different views within voting members. You can access the upcoming report right here. Thursday 29 we will see the release of US Q1 GDP numbers expected with a Year on Year reading expected at 3.7% and Jobless claims expected at 230K. The afternoon we will see speeches from Goolsbee, Kugler and Daly in that order. Goolsbee and Kugler are voters, with the former having a relatively dovish position - it will be interesting to see what he has to say. Friday 30 has more key data with the release of US Core PCE expected at 2.5% Y/Y, 0.1% Month on Month. We will also see the release of Canadian GDP expected at 1.7% annualized - a beat could contribute for some more strength in the CAD while a miss would just amplify the move from this week. Do not miss also the Chicago PMI at 9:45 and U-of-Mich Consumer Sentiment at 10:00. close Calendar for US and Canadian Events for Thursday 22 and Friday 23. MarketPulse Economic Calendar (click to enlarge) /media/images/Screenshot_2025-05-28_at_1.56.03PM.width-1400.png 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.

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