Ripple tumbled nearly three percent, or $0.01 on Friday for the fourth session out of five, resuming the recent decline amid a crypto selloff wave and heading for the second weekly loss in a row, after testing December 2017 lows yesterday on US regulatory concerns. 

As of 07:05 GMT, Ripple dropped 2.80% to $0.33395, with an intraday high at $0.3460, and a low at $0.32992, with Ripple's market value now receding to $33.5 billion. 

World Bank Announces First Ever Blockchain Bond 

The World Bank is partnering up with the Commonwealth Bank of Australia to set up the world's first blockchain bond, which was priced by the markets as clear international support for the technology that underpins cryptocurrencies. 

It's expected the bonds will carry 100 million Australian dollars in value, to be called bond-i, an acronym standing for Blockchain Offered New Debt Instrument, with an ethereum-based blockchain to be used in these bonds for its suitability. 

SEC Delays Crypto ETF Decision 

In less cheerful news for cryptocurrencies, the U.S. Securities and Exchange Commission (SEC) has delayed its final decision on requests to set up bitcoin exchange-traded funds to late September, in another development that upset crypto enthusiasts in the States. 

The SEC stated: "The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission, ... designates September 21, 2018, as the date by which the Commission shall either approve or disapprove the proposed rule change."

The Path of Ripple 

It's worth mentioning that Ripple was first launched on March 7, 2015, to start trading at $0.015, with the virtual currency losing nearly two thirds of its value by early 2016 to $0.0059, before rising 5% during 2016 to $0.0063, and then skyrocketing 28,000% to $1.748 by the end of 2017, before marking unprecedented highs in January at $3.30, then losing 85% of value rapidly in the last few months, and finally closing the first half of the year below $0.5.

Silver futures slid nearly one percent in American trade to August 3 lows, on track for the ninth weekly decline in a row, the longest such streak in four years, while the dollar index spiked to July 2017 highs, following earlier inflation data form the US today. 

As of 06:34 GMT, silver September futures dropped 0.95% to $15.31 an ounce, marking week lows, while the dollar index rose 0.90% to 96.37 against a basket of major rivals, scaling 13-month highs. 

Earlier US data showed consumer prices rose 0.2% m/m in July as expected, accelerating from 0.1% in June, while core prices, excluding food and energy, rose 0.2% as expected with no change from June. 

On a yearly basis, consumer prices rose 2.9% as expected with no change as well, while core prices accelerated to 2.4% from 2.3%. 

The dollar index has strengthened considerably against major currencies, heading for the third weekly profit in a row on prospects of two more Federal Reserve rate hikes this year. 

Dollar's rivals have taken a beating, mainly euro and sterling on prospects of an unorganized Brexit, while the yuan has slumped as well due to the US-China trade war. 

Oil futures rose over one percent in American trade, with US crude bouncing off June 22 lows, and Brent off July 18 lows, while still heading for their second weekly losses in row.

The dollar index powered up to July 2017 highs as major rivals in Europe and Asia swooned due to various economic and political factors, and following earlier upbeat data from the US, the world's largest energy consumer. 

As of 05:17 GMT, US crude futures due in September rose 1.14% to $67.57 a barrel, while Brent October futures climbed 1.12% to $72.88 a barrel, as the dollar index spiked 0.95% to 96.41, marking 13-month highs. 

US Inflation Data

Earlier US data showed consumer prices rose 0.2% m/m in July as expected, accelerating from 0.1% in June, while core prices, excluding food and energy, rose 0.2% as expected with no change from June. 

On a yearly basis, consumer prices rose 2.9% as expected with no change as well, while core prices accelerated to 2.4% from 2.3%. 

US Inventory Drawdown 

The Energy Information Administration released its report on US crude stocks on Wednesday, showing a drawdown of 1.4 million barrels in the week ending August 3, compared to a 3.8M buildup in the previous reading, while analysts expected a 2.8 million decline, with total stocks now down to 407.4 million barrels, 1% below five-year averages for this time of year. 

Gasoline stocks rose 2.9 million barrels, making them 4% above five-year averages, while distillate stocks, including heating fuel, rose 1.2 million barrels, still 10% below averages. 

The EIA also cut forecasts for global oil demand growth by 60 thousand bpd in 2018, and by 140 thousand bpd in 2019 to 1.66 million and 1.57 million bpd respectively, while expecting US output to rise by 1.31 million bpd this year, down from 1.44 million in previous forecasts.  

IEA Releases Monthly Report 

The International Energy Agency released its monthly report, at which it noted receding worries over supply shortages as producers raise output around the world, while oil demand is expected to rise by 110 thousand bpd in 2019.  

The EIA expects oil supplies outside OPEC to rise by 100 thousand bpd in 2018 and 2019, noting nonetheless that maintaining current levels of oil supplies will be quire difficult in the future as US embargoes Iranian exports in November, while other producers face issues as well.

The US has reimposed blanket sanctions on Iran this week, targeting its access to dollars, gold, and precious metals amid a push by the American administration to isolate Iran. 

Société Générale expects the US sanctions in November to cut Iranian exports by about one million bpd. 

Iran Claims Improper Redistribution in OPEC's Output 

Iranian oil minister Bijan Zanganeh has called for an emergency OPEC meeting in case the organization failed to stop some of its members from increasing their output past the agreed-upon quota in the deal to cut global output this year, noting that Iran has already sent complaints to OPEC about observations of such acts by some members. 

US Oil Rig Count 

Banker Hughes, a US oil services company, reported an increase of 10 in the rig count to a total of 869 rigs, the first increase in three weeks.

US output is down to 10.80 million bod, still above Saudi Arabia's 10.29 million bpd levels, while below Russia's 11.21 million bpd. 

Sterling fell in American trade to June 26, 2017 lows versus the dollar, on track for the longest daily losing streak since late 2017, and the longest weekly losing streak since early 2017, following a basket of data from the UK and US earlier today. 

As of 02:51 GMT, GBP/USD shed 0.33% to 1.2782, with an intraday high at 1.2837, and a year low at 1.2723. 

Flood of UK Data 

Earlier UK data showed industrial output rose 0.4% m/m in June according to data released by the Office for National Statistics, the first such increase in three months, and compared to a 0.4% drop in May. 

Manufacturing production rose 0.4% m/m in June according to data released by the Office for National Statistics, similar to the May's reading and edging estimates of a 0.3% expansion. 

The UK goods trade balance marked a deficit of £11.4 billion in June, below estimates of £12.0 billion, however, the deficit widened by £4.7 billion in three months ending June to £8.6 billion due to falling goods exports while imports paced higher, according to data provided by the Office for National Statistics.

An index tracking the services sector rose 0.5% in the three months ending June, up from 0.4% in the previous reading. 

Most importantly, the UK economy grew by 0.4% q/q in the second quarter of 2018 according to data released by the Office for National Statistics, accelerating from 0.2% in the first quarter and matching analysts' expectations. 

The pound is facing increasing pressures as the chances of an unorganized Brexit increases as negotiations with the European Union fail to reach a middle ground. 

Upbeat US Inflation Data 

Earlier US data showed consumer prices rose 0.2% m/m in July as expected, accelerating from 0.1% in June, while core prices, excluding food and energy, rose 0.2% as expected with no change from June. 

On a yearly basis, consumer prices rose 2.9% as expected with no change as well, while core prices accelerated to 2.4% from 2.3%.