
EIA Crude Inventories Draw 0.4M vs Forecast 1.4M Draw
EIA crude inventories drew 0.4M for the week ending September 4, versus a 1.4M draw forecast and a 4.5M prior draw — a smaller-than-expected decline.
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EIA crude inventories drew 0.4M for the week ending September 4, versus a 1.4M draw forecast and a 4.5M prior draw — a smaller-than-expected decline.

USD/CAD near 1.3815 after a 1.3835 high as the loonie firms and WTI extends near $97.20. FedWatch ~64% chance of a 25 bp hike on this stamp; DXY ~98.96.

GBP/USD under pressure near 1.3525 (−0.17%) as hot PPI keeps a September Fed hike in play. FedWatch nearly 70% chance of a 25 bp increase; Brent above $100.

Silver slides near $64.35 (−4.39%), below $65, as hot PPI lifts Fed hike bets. FedWatch ~70% this stamp, up from about 61% pre-data. DXY ~98.90; 10y ~4.92%.

Democrats are pushing a CLARITY Act provision directing regulators to set conflict-of-interest standards for vertically integrated crypto firms, citing FTX/Alameda-style structures, while Republicans warn the language could be weaponized by a future Democratic president. Sen. Cory Booker is negotiating wording with Sens. Lummis and Boozman ahead of next week’s cloture vote. Ethics language and bank opposition to stablecoin yield remain open.

Nasdaq is investing $100 million in Payward, the parent of crypto exchange Kraken, through its venture arm, valuing the company at $21 billion, according to Bloomberg via Wu Blockchain. The capital injection deepens a March strategic partnership aimed at tokenized-equities trading, settlement, and custody infrastructure.

Treasury Secretary Scott Bessent urged the Senate to advance the CLARITY Act, warning that walking away would forfeit enhanced crypto national-security tools and signal the U.S. is ceding digital-asset leadership. The Sept. 15 vote is cloture on the motion to proceed to H.R. 3633 — it needs 60 votes and is not final passage. The tone shifts from July’s market-structure urgency to a national-security frame.

Kalshi notified the CFTC it is self-certifying GOLDPERP and SILVERPERP under Regulation 40.2(a), with a Wednesday September 9 listing intent. The cash-settled contracts never expire, trade 24/7, and track Pyth gold and silver spot. The move expands Kalshi’s perpetual futures beyond crypto.

U.S. Bank completed a live pilot using USBDC, its proprietary U.S. dollar-backed stablecoin, for a cross-border payment between its North America and Europe entities on the Stellar blockchain. The test covered minting, redemption, freezing, and clawback and validated the bank’s Digital Asset Platform. The bank frames USBDC as one of the first bank-issued stablecoins on a public blockchain.

USD/CAD near 1.3815 after a 1.3835 high as the loonie firms and WTI extends near $97.20. FedWatch ~64% chance of a 25 bp hike on this stamp; DXY ~98.96.

GBP/USD under pressure near 1.3525 (−0.17%) as hot PPI keeps a September Fed hike in play. FedWatch nearly 70% chance of a 25 bp increase; Brent above $100.

USD/INR hits a fresh 10-day high at 95.47 as oil extends its rally on intact US–Iran tensions. RBI still intervening in spot and NDF; FCNR mobilisation stamped at $136.38bn.

AUD/USD eases to the 0.7160 area (tech 0.7167) from a ~0.7220 peak as hot PPI firms the dollar. China ~$54B financial stimulus and RBA hike bets still support; oil near $100.

USD/JPY advances near 154.15 (+0.40%) as hot PPI (5.4% YoY) and claims at 206K lift the dollar. FedWatch nearly 70% chance of a rate hike on this stamp, up from about 61% pre-data.

EIA crude inventories drew 0.4M for the week ending September 4, versus a 1.4M draw forecast and a 4.5M prior draw — a smaller-than-expected decline.

WTI jumps toward $97.00 (+2.93%) as US–Iran escalation lifts the supply-risk premium. Reuters: Iran hit 10 ships near Hormuz after the US sank five Iranian tankers; Houthi hits on Saudi energy facilities.

Lagarde says inflation stays well above target into 1H27 and returns around target toward end-2027, with longer-term expectations near 2%. Data-dependent stance; further tightening may follow. Soft ECB print + EUR post-print — PC≠hike reprint.

ECB hikes 25 bps as expected: Main Refi to 2.65%, marginal lending 2.9%, deposit facility 2.5%. Staff projections accompany the print; Lagarde press conference is a separate follow.

VLCC earnings on the ME–China run hit a record near $800,000 a day, while US Gulf–Asia lump-sum fixtures print a record ~$29.5 million (~$15/bbl ex war-risk), Bloomberg and OilPrice stamp. Persian Gulf conflict and shipping workarounds are tightening the tanker list.

Silver slides near $64.35 (−4.39%), below $65, as hot PPI lifts Fed hike bets. FedWatch ~70% this stamp, up from about 61% pre-data. DXY ~98.90; 10y ~4.92%.

Gold near $4,368 (−0.75%) as hot PPI keeps Fed hike odds elevated. FedWatch ~64% next-week hike vs Reuters economists’ pause through year-end — both quoted, not averaged. DXY ~98.96; 10y ~4.92%.

Gold slides near $4,346 after an intraday high of $4,434 as hot PPI lifts the dollar, yields and Fed hike pricing. FedWatch ~64% next-week hike vs Reuters economists’ pause through year-end — both quoted, not averaged.

Silver slides 2.3% to near $65.80 in Europe as the dollar recovers ahead of PPI. DXY ~99.86 on this stamp (not averaged with gold’s ~98.90). Headline PPI eyed at 5.3% YoY; Commerzbank ~60% hike odds.

Gold near $4,383 in Europe after an intraday high of $4,434 as the dollar steadies ahead of PPI. FedWatch ~62% Sep hike vs Reuters economists’ pause through year-end — both quoted, not averaged. DXY ~98.90; 10y ~4.85%.
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