New Zealand Exports climbed from previous $7.94B to $8.62B in April

FXStreet Team FXStreet

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

AUD/USD eyes 0.7000 on softer USD, ahead of Chinese data

AUD/USD consolidates below 0.7000 in Wednesday’s Asian session, ahead of China's inflation and trade balance data. However, focus will be on the US consumer inflation figures, which will drive the US Dollar and provide a fresh impetus. Meanwhile, the recent pullback in US bond yields keeps the USD below an 18-month low, though hawkish Fed and geopolitical risks limit losses, capping the currency pair.

USD/JPY consolidates below 158.50; looks to US CPI for fresh impetus

USD/JPY steadies below mid-158.00s during the Asian session on Wednesday, with looming intervention risks supporting the Japanese Yen and capping the upside amid a softer US Dollar. However, geopolitical uncertainties act as a tailwind for the safe-haven USD and the currency pair. Traders also seem hesitant ahead of the release of the latest US consumer inflation figures.

Gold: Bears struggle to breach below $4,150

Gold now gives away its initial gains and resumes its decline, revisiting the $4,160 region per troy ounce on Tuesday. The precious metal’s pullback comes despite the fresh downward trend in the Greenback in combination with a mixed performance of US Treasury yields across the board and easing tensions on the geopolitical front.

Ethereum holds $2,500 as open interest drops to lowest level since February

Ethereum (ETH) quickly bounced back above $2,500 on Tuesday after sharp Asian equity selloffs briefly spilled into the crypto market. South Korea's KOSPI declined 5.4% while Japan's Nikkei 225 dropped by 1.8%. The volatility spike bled into cryptocurrencies, triggering a cascade of forced liquidations.

S&P 500 earnings just hit a record. The AI data centre bill hasn't landed yet

S&P 500 companies are on track for a third straight quarter of earnings growth above 25%, according to FactSet. Their profit margin hit 17% in the April-June quarter, the highest in FactSet data going back to 2009. The cash behind those earnings has been shrinking for two years, and almost all of the shrinkage is in the handful of companies building data centres for artificial intelligence (AI).

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?