Oil: A small step for OPEC – Commerzbank

FXStreet Insights Team FXStreet

The eight OPEC+ members that had recently voluntarily reduced their production decided over the weekend, as expected, to further scale back their production restrictions, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.

Oil price gives up gains

"However, they opted for a smaller step, similar to the previous month, by increasing production by 'only' 137,000 barrels per day. This eased concerns that production would be expanded as significantly as in previous months."

"Between April and September, OPEC's production rose by 1.7 million barrels per day, equivalent to an average of 340,000 barrels per month according to Bloomberg. The Oil price initially climbed yesterday but soon gave up those gains. Even though the production increase was smaller than feared, it comes at a time when the supply outlook is already favorable."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD remains stuck in tight range above 1.3600

GBP/USD extends its consolidation into a second consecutive day on Tuesday and fluctuates in a narrow band above 1.3600. The US Dollar stabilizes as investors assess US sanctions on Iran, while diplomatic efforts creep back amid reports that Pakistan is carrying an offer to Iran to halt the siege and lift sanctions under the Memorandum of Understanding.

EUR/USD stays below 1.1700 after weak US consumer confidence data

EUR/USD struggles to gather recovery momentum and trades below 1.1700 in the second half of the day on Tuesday. The US Dollar (USD) benefits from the cautious mood as investors assess the latest developments in the Middle East. Meanwhile, disappointing consumer sentiment data from the US helps the pair hold its ground.

Gold takes a breather after climbing to a fresh three-month high, US PCE in focus

Gold (XAU/USD) extends its intraday decline during American trading hours on Tuesday after setting a fresh three-month high of $4,697 earlier in the day.

Crypto Today: Bitcoin soars past $80K as Ethereum and XRP hold gains

Bitcoin (BTC) is trading above $80,000 on Tuesday. This is the highest level the Crypto King has traded since mid-May, underscoring a positive shift in investors' risk-on sentiment, liquidity conditions and the technical outlook.

Nvidia earnings: A quick look at expectations

The 2026 Q2 earnings season is nearly over for S&P 500 members, with the reporting cycle notably positive. But looming large this week is none other than AI-favorite NVIDIA (NVDA) , whose results will wrap up the reporting cycle for the Magnificent Seven group as well.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

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.