The week started with upward pressure on energy prices, US 10-year yield breaching the 5% mark and very uncomfortable questions regarding AI, and this time, it was not about the circular deals, financing capabilities, investor greed, earnings, the impact of AI on different sectors and businesses, the parabolic rise in market prices, PE ratios and so on.

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Australian Dollar hangs near three-week low, above 0.7100 as USD stands firm ahead of Fed

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In-Depth Analysis

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.

Canada's 6.4% unemployment rate: Why Friday's jobs print puts the BoC's slack story on trial

2% wages: Why Canada’s weak jobs data strengthens the BoC’s stance

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Private credit books a Fed hike as income until borrowers stop paying

Cryptocurrencies

Solana Price Forecast: SOL consolidates as ETF inflows and on-chain activity rise

Solana (SOL) edges lower on Tuesday, following a 3% rise to start the week, extending its consolidation around the $100 psychological mark. Institutional confidence holds firm in the layer-1 blockchain, with $11 million in inflows on Monday, showing signs of increased risk appetite ahead of the CLARITY Act cloture vote scheduled for Tuesday.

CLARITY Act faces fresh pressure ahead of key Senate cloture vote

The CLARITY Act is facing fresh opposition from a bipartisan group of state attorneys general ahead of a key Senate vote, with the officials urging lawmakers to reject the legislation unless changes are made to preserve state enforcement powers.

Ripple and Stellar outlook: Extend gains as derivatives support upside

Ripple and Stellar extend their gains after surging over 6% and 8%, respectively, on the previous day. In addition, improving derivatives metrics support a bullish bias, signaling further gains for both altcoins. Derivatives data shows bullish bias among traders. CoinGlass’ long-to-short ratios for XRP and XLM read 1.15 and 1.35, respectively, on Tuesday.

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Stocks

US stocks dive on Monday as CEOs mull AI 'slowdown', soaring Oil and Fed hike

The US stock market is taking a step back on Monday as investors retreat in light of a multitude of scary headwinds. Over the weekend, the leading CEOs of US AI shops agreed that progress on AI models should be slowed down in order to introduce safeguards to frontier models — an event that threatens to curtail the growth outlook for many leading AI industry suppliers.

Weekly Forecast

EUR/USD: To hike or not to hike? Kevin Warsh between a rock and a hard place

The EUR/USD pair settled around 1.1600 for a third consecutive week, unable to find a clear way despite key macroeconomic headlines. The pair held within a tight 100-pip range for the second week in a row, as speculative interest awaits the Federal Reserve (Fed) monetary policy announcement scheduled for Wednesday.

Global inflation watch: Muted momentum outside of energy

Overview: Inflation in August came in broadly as expected in both the US and euro area. Momentum in underlying inflation remained muted on both sides of the Atlantic (see chart). Rising energy prices, particularly European gas futures, have moved up near-term inflation expectations.

Gold: Fed rate call and dot plot key for next directional action

Bitcoin: BTC retreats as macro headwinds grow

Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.

US Dollar: No country for soft landings

There was no respite to the downward trend for the US Dollar (USD) this week, which added to the prior week’s retracement and at some point flirted with the area of four-month lows.