WTI – Buy trade idea explained [Video]
![WTI – Buy trade idea explained [Video]](https://editorial.fxsstatic.com/images/i/West-Texas-Intermediate_2.png)
Potential for the further upside movement.
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Petar Jaćimović
FXCentrum
Petar Jaćimović was born on 8 July 1989 in Jagodina, Serbia.
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GBP/USD approaches the May high, while trading near 1.3650 in the European session on Thursday. The US Dollar slips again even as markets assess whether the US Treasury buyback will be a game-changer. Attention now remains on US data and Middle East headlines for further trading impetus.
EUR/USD is at its highest level in three months, above 1.1700, in European trading on Thursday. The pair regains traction as the US Dollar resumes its downside, led by the US Treasury's bond buyback plan.. US Jobless Claims data are next in focus amid lingering Iran risks.
Gold sticks to modest intraday losses and remains below the $4,500 mark in the European session on Thursday. Despite geopolitical uncertainties, the US Dollar loses ground again, resuming the previous day’s slump to a three-month low.
Bitcoin extends its gains, inching toward $72,000 on Thursday, as crypto markets continue to cheer the US Treasury’s decision to double its debt buyback operations. The move has sharply improved market sentiment and liquidity conditions, helped trigger a short squeeze, and overall provided a positive catalyst for the broader crypto market.
Yesterday was marked by a coup from the US Treasury, which suddenly announced that it will ‘at least double’ the maximum size of its buyback operations for longer-term debt, hoping to ease pressure on long-term yields and borrowing costs. Phoah! The markets reacted heavily to the news. The US 10-year yield fell sharply, while the 30-year yield dropped from its highest levels since 2007.
The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.
