Crude oil futures settled at $63.41, up $1.13 or 1.81% on the day. On the topside, the 100-day moving average at $64.38 remains the next key target. A break above and sustained move through that level would give buyers greater control and open the door for further upside momentum.On the downside, a swing area between $61.45 and $61.94 has provided solid support, holding both yesterday and today. As long as price action stays above that zone, buyers are still in play. However, the real test for bullish conviction remains a move through the 100-day moving average. This article was written by Greg Michalowski at investinglive.com. Source: investinglive.com (Read Full Article)

Gold (XAU/USD) pushes deeper into uncharted territory on Tuesday, climbing to another record high as expectations for further Federal Reserve (Fed) interest rate cuts and lingering geopolitical risks underpin steady safe-haven demand. Source: fxstreet.com (Read Full Article)

BOC Macklem is supporting his US counterpart Powell. Says: Fed chair Powell is doing very good job under trying circumstances.Trump’s the repeated attacks on the Fed are a concern.History shows a central banks that have operational independence for monetary policy do a better job at delivering price stability for their citizens.Accountability goes hand-in-hand with independenceNot market moving war policy related but supportive of the idea of the importance of central bank independence. This article was written by Greg Michalowski at investinglive.com. Source: investinglive.com (Read Full Article)

The US Dollar (USD) remained in the lower end of its recent range as market participants kept assessing different comments from Fed rate setters while key gauges of US business activity disappointed investors somewhat. Source: fxstreet.com (Read Full Article)

Bank of Canada Governor Tiff Macklem says Fed Chair Powell is doing very good job under trying circumstancesTrump’s repeated attacks on the Fed are a concernsays history shows central banks that have operational independence for monetary policy do a better job at delivering price stability for their citizenssays accountability goes hand in hand with independencesays he made his comments about the Fed now because it is starting to have consequences in financial marketsthere is a concern in the market that at precisely at the moment when you want that hedge the most, it may not be there any moreEarlier:BOC’s Macklem: For many investors, the value of the USD as a hedge has been dentedJustin posted an interesting piece earlier, on bargain bin buying of US assets as the USD and Ts slumped: Are capital flows really moving away from the US this year? This article was written by Eamonn Sheridan at investinglive.com. Source: investinglive.com (Read Full Article)

The major US stock indices are closing lower on the day with no new record closes (for a change) The declines were led by the NASDAQ index which at its worst today since September 2. The index fell by -0.95%. The broader S&P index and the Dow industrial average also closed lower.A look at the closing levels shows:Dow industrial average -88.76 points or -0.19% have 46292.78.S&P index -36.83 points or -0.55% at 6656.92.NASDAQ index -215.50 points or -0.95% at 22573.47.Russell 2000-5.82 points or -0.24% at 2457.51.Some of the larger capitalized companies led the way to the downside:Nvidia -2.82%Amazon -3.04%Oracle – at 4.36%Microsoft -1.01%Meta -1.28%Tesla -1.93% This article was written by Greg Michalowski at investinglive.com. Source: investinglive.com (Read Full Article)

Trump officials seek equity stake in lithium Americas as part of renegotiation of $2.26 billion loan for Thacker Pass lithium project, two sources tell ReutersLithium Americas has offered Trump administration no-cost warrants that would equate to 5% to 10% of Company’s common shares, one source saysInfo via Reuters, in summary:The Trump administration is pressing for an equity stake of up to 10% in Lithium Americas as part of ongoing talks to restructure a $2.26 billion Department of Energy loan for the Thacker Pass lithium mine in Nevada. Sources told Reuters that Lithium Americas has offered Washington free warrants equating to 5–10% of its common shares in an attempt to secure funding and finalize revised repayment terms.Thacker Pass, backed by GM with a $625 million investment and a 38% stake, is expected to become the largest lithium source in the Western Hemisphere when it begins production in 2028. The mine is viewed as crucial for U.S. supply chain security and reducing reliance on China, which dominates lithium refining.Officials argue taxpayers should benefit from the project, especially amid concerns about Lithium Americas’ ability to repay given weak prices caused by Chinese oversupply. Alongside equity, Trump aides want GM to guarantee long-term offtake purchases and possibly relinquish some project control to Washington. Negotiations remain ongoing, with Lithium Americas and GM stressing their confidence in the project’s national importance. This article was written by Eamonn Sheridan at investinglive.com. Source: investinglive.com (Read Full Article)

Treat today’s inflation data from Australia as a guide only. Monthly readings are not as reliable as quarterly readings. Indeed, Reserve Bank of Australia Governor Bullock earlier this week:Will still rely very heavily on the quarterly Australian CPI reportThe monthly CPI data from Australia does not show all components of the CPI, that’ll have to wait for the quarterly data release (late in October). The monthly CPI indicator does, however, provide a timelier indication of inflation using the same data collected for use in the quarterly CPI. The monthly reading includes updated prices for between 62 and 73 per cent of the weight of the quarterly CPI basket, its not the full picture.Having said all that, its expected higher in August than in July. Which is not an an encouraging sign, at the margin, for continued rate cuts. This article was written by Eamonn Sheridan at investinglive.com. Source: investinglive.com (Read Full Article)

Tether Holdings, issuer of the largest stablecoin USDT, is in early talks to raise between $15–20 billion by selling roughly 3% of new equity, which would imply a valuation near $500 billion. El Salvador-based companyWith USDT’s market capitalization at $172 billion, well ahead of Circle’s $74 billion USDC, the deal would mark one of the largest fundraising efforts in crypto historyDiscussions are still at an early stage and terms could change—A $500B valuation would cement Tether’s dominance, though scrutiny over reserves could intensify. Circle’s $74B USDC looks dwarfed, highlighting widening market share gapsIf successful, the deal would rank among the largest private raises in the sector. This article was written by Eamonn Sheridan at investinglive.com. Source: investinglive.com (Read Full Article)