• Crude Oil pops above a crucial pivotal level as it recovers for a second day in a row.  
• Tropical storm Francine hits Louisiana, with several on- and offshore installations in the region evacuated. 
• The US Dollar Index trades above 101.50 and tests its upper boundary of its bandwidth for a break higher. 

Crude Oil pops over 1.50% for a second day in a row after booking over 1.50% gains on Wednesday, which was the biggest daily gain for Crude Oil in two weeks. The uptick comes amid increasing concerns over the impact of tropical storm Francine on US production and after the most recent OPEC report – which cut the outlook for Oil demand – was deemed unrealistic considering recent US and global economic activity. 

The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of currencies, is stronger and tests the upper band of its tight bandwidth in which it has been trading for over two weeks. The stronger Greenback emerged after US Consumer Price Index data revealed a surprise uptick in the monthly core measure. That closed the door for a 50-basis-point rate cut from the US Federal Reserve next week, supporting the US Dollar.