Market News

Crude oil futures are moving higher today, currently trading at $85.41 — up around $2 on the session.

The high extended to $86.79, the best level since August 21. At session highs, the price was testing the key 100-day moving average at $86.73.

Buyers briefly pushed price above that MA, but momentum faded fast and price rotated back down. I like to say the buyers had their shot, and they missed.

What next?

With sellers winning out near the highs and the 100-day MA, the ball is now in their court.

They need to show they can take control/more control by breaking through downside targets.

The first is the 200-hour moving average at $84.17.

A break below that puts the 100-hour MA at $82.82 in play and as the next target..

Below that, traders will…

The EURUSD moved sharply lower at the end of last week, with the selling continuing at the start of the new trading week in the Asian-Pacific session. The low stalled near 1.15733, where the 100-day moving average and the 38.2% retracement of the move up from the end-of-July low converged. Buyers leaned against that key support cluster and pushed the price higher.

The rebound has now taken the pair into a swing area between 1.1613 and 1.16215. A move above that area would have buyers looking toward another important cluster of resistance:

• 200-day moving average at 1.16305*
• 100-hour moving average at 1.16359
• 200-hour moving average at 1.16558

Technically, the sellers from Friday still have the opportunity to maintain control. To do so,…

The major European indices are closing mixed with a German Dax the worst performer, while the UK's FTSE 100 is the best performer.

A snapshot of the closing levels shows:

• Frances -0.79%
• German DAX, -1.09%
• UK's FTSE 100, +0.29%
• Spain's Ibex, -0.34%
• Italy's FTSE MIB, +0.1%

As European traders head for the exits, markets remain focused on rising oil prices, higher long-term yields and geopolitical tensions surrounding Iran.

Treasury Secretary Scott Bessent, speaking at the G20 summit, said Iran is taking U.S. sanctions seriously and is “lashing out kinetically” because it is losing economically. He added that the U.S. will continue to exert pressure, but Iran’s economy does not need to collapse—it simply needs to “come to its senses.”

On the…

The AUDUSD is little changed on the day, but the technical picture is setting up an important decision for traders.

The pair moved sharply lower Friday after Fed Chair Kevin Warsh’s more hawkish comments at Jackson Hole. An attempt to correct higher today ran out of momentum, sending the price back toward its rising 200-hour moving average at 0.7157.

That moving average is the key barometer for buyers and sellers.

The 200-hour moving average has provided support on several occasions during the recent move higher. As long as the price remains above it, buyers retain a modest technical advantage. However, a break below—and the ability to stay below—would be something new and shift the bias more firmly to the downside.

On a break lower, the next…

Treas Sec Bessent on CNBC:

• Oil prices will come down.
• Pres. has been saying Iran is not ready to make a deal.
• Operation outcast will make Iran  make a deal
• The bond market is most resilient in the world
• Had a robust meeting with PBOC chief last night
• If there were a problem with the US bonds, people would be selling our bonds and buying others. We are the best performing bond market. 
• Regarding US bond market don't believe I can change equilibrium price.
• The 10 year yield is at levels when the Pres. took office.  
• Meeting with Canadian counterpart. We are not in war with Canada.
• Canada was offered the best trade deal than any country in the world.
• Carney is not doing what's best for Canadian people
• Does not want to speculate on what Fed chair will…

The final trading day of the month also marks the start of a new trading week for the broader S&P 500 and Nasdaq Composite. At current levels, the S&P is up 2.54% for the month, while the Nasdaq has gained 3.69%. Both indices are trading lower today, however, giving back some of those gains.

The pressure comes amid concerns about rising U.S. interest rates following Fed Chair Kevin Warsh’s hawkish comments at Jackson Hole on Friday. Increased tensions in the Middle East have also pushed oil prices sharply higher. The U.S. 10-year yield is up 3.8 basis points at 4.76%, while the 30-year yield is up 5.2 basis points at 5.260%.

The S&P 500 is currently down about 31 points, or 0.41%, at 7678.26. The decline has taken the index below its…

The USDCAD is moving lower today, but remains confined between key moving averages as buyers and sellers battle for control.

Recall from last Friday, that the pair found support near the converged 200-hour and 200-day moving averages (green lines on the chart above) ahead of Fed Chair Kevin Warsh’s more hawkish speech at Jackson Hole. The subsequent rise in US yields helped send the US dollar sharply higher and the USDCAD up..

That rally carried USDCAD from the lower moving-average support cluster toward its 100-day moving average. In early trading today, the price extended to a new high of 1.3911—about four pips short of the 100-day moving average near 1.3915.

Sellers leaned against that key technical level and pushed the pair back to the…

Bessent at the G20:

• Iran is taking sanctions seriously
• Iran is lashing out kinetically because they are losing economically
• We will continue to exert pressure
• Iran's economy doesn't have to collapse just needs to come to its senses
• Real wages are growing
• Only way to get out of debt is to grow our way out of debt.

Seems like he is given up on cutting costs to cut the deficit. It is giving up on lowering rates that would help the deficit, and going all in on the economy holding up in the face of higher oil prices, higher inflation. 

This article was written by Greg Michalowski at investinglive.com.

Platinum Price Trade Idea: A Patient Long Setup With 12-to-1 Reward-to-Risk Potential

Platinum futures are approaching an important support area within a rising higher-timeframe channel. The long scenario looks for an entry near 1,805, with invalidation below 1,737 and an ambitious upside target near 2,621. This creates approximately 12 units of potential reward for every unit risked, but only if the channel support continues to hold.

Key takeaways for platinum traders Planned entry: Around 1,805 The setup looks for an entry close to the lower part of the rising channel rather than after an extended rally. Invalidation: Below 1,737 A decline beneath this level would materially damage the bullish channel structure. …

• Prior +2.8%
• HICP +2.9% vs +3.1% y/y expected
• Prior +2.8%
• Core CPI Y/Y +2.4% vs +2.4% prior
• Full report here

Germany’s inflation rate is expected to rise to 2.9% y/y in August. On a monthly basis, consumer prices increased by 0.2% compared with July. The Harmonised Index of Consumer Prices (HICP), the measure used for comparisons across the Eurozone and which the ECB targets, also rose 2.9% annually and 0.2% monthly, matching the national CPI reading.

A key driver behind the increase was the rise in energy costs. Energy prices climbed 10.5% from a year earlier, significantly faster than the 8.3% increase recorded in July and the 3.4% rise seen in June.

Meanwhile, underlying inflation remained more contained. Core inflation, which excludes the…

This article was written by Greg Michalowski at investinglive.com.

Pres. Trump is ranting to start the week. On Truth Social he posts:

Iran is officially a Failed Nation. IT IS DEAD! They have no Navy, they have no Air Force, they have no currency, they are not paying their soldiers or police, Inflation is at 300%, and their leadership is in total disarray and incapable of properly representing the country. The only thing they have is FAKE NEWS from the USA, a willingness to kill their protesters (now over 100,000 people dead. They must be tried for war crimes against humanity!), and a good line of “BULLSHIT.” Thank you for your attention to this matter! President DONALD J.TRUMP

Trump first made that specific claim (no Navy. no Air Force) on March 3, 2026, during an Oval Office meeting with German…