AUD/USD jumps toward 0.7200 after Australian CPI data
AUD/USD picks up fresh bids and jumps toward 0.7200 in Asia on Wednesday. The headline annual and monthly Australian Consumer Price Index (CPI) inflation readings came in hotter-than-expected in July at 3.5% and 1%, respectively, reinforcing RBA interest rate hike expectations and lifting the Australian Dollar (AUD) amid a steady US Dollar.
as traders keenly await the release of Australian consumer inflation figures for some impetus ahead of the US PCE Price Index later this Wednesday. Meanwhile, a fall in oil prices amid a report that the US and Iran have reached a ceasefire agreement, along with sliding US bond yields and receding Fed rate-hike bets, is seen as undermining the US Dollar and keeping the pair near its highest level since early June.
USD/JPY turns south to near 159.00 as traders await US PCE data
USD/JPY has broken out of its consolidation phase to the downside and is battling 159.00 in the Asian session on Wednesday. Reports of a possible US-Iran ceasefire deal drove Oil prices down overnight and eased inflation fears. Adding to this, the US Treasury’s buyback strategy and receding Fed hike bets drag US bond yields lower, undermining the US Dollar and the pair ahead of the US PCE Price Index.
$4700 back on Gold buyers’ radar as US core PCE inflation data looms
Gold is heading back toward the fresh 15-week highs of $4,697 in Wednesday’s Asian trades, reversing a brief dip below the $4,650 level. Gold buyers find renewed strength from a broadly subdued US Dollar (USD), as they look to reposition ahead of the US core Personal Consumption Expenditures (PCE) Price Index data for July.
Bitcoin pauses near $80,000, Ethereum at $2,500, XRP below $1.50
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CRYPTOCURRENCIES
Ripple bulls eye another breakout with $1.70 in sight
Ripple (XRP) upholds a strong bullish outlook, while consolidating near $1.50 on Tuesday. A 72% rally last week pushed the token to $1.70 before it pulled back to seek support amid possible profit-taking and an overstretched market trend.
Polygon extends rally as bull market discovers steady network growth
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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.
STOCKS
Stock market: Will money flow into Europe?
Nasdaq 100 rebound looks strong… or is it just a trap?
The Nasdaq 100 spent the past few sessions recovering strongly from its November lows, rebounding from 24,307 and climbing back into the 25,100–25,150 mid-range zone. While the candles look convincing, the broader picture reveals a different story: the index remains trapped inside a 4H range structure.
WEEKLY FORECAST
EUR/USD: US Dollar falls apart, what’s next?
The US Dollar collapsed this week, helping EUR/USD reach a fresh three-month high just above the 1.1700 mark, heading into the weekly close a handful of pips below that level but still firmly up. The USD sell-off was triggered by the United States Department of the Treasury, which announced on Wednesday that it will increase the government debt repurchase size by at least double.
The Japanese Yen’s historic rescue is running out of steam
Gold: Bulls dominate as US Treasury Department intervenes in bond market
Following the previous week’s choppy action, Gold gathered bullish momentum and advanced to its highest level since late May and touched $4,600. While XAU/USD’s technical outlook highlights buyers’ dominance in the near term, next week will feature key events that could ramp up market volatility.
Bitcoin: The US Treasury saves BTC
Bitcoin extends gains, trading above $77,000 on Friday after rallying over 20% and reaching its highest level since mid-May. Crypto markets continue to cheer the US Treasury’s decision to double its debt buyback operations, posting their 7th-largest liquidation event in history.
US Dollar: The US Dollar’s new enemy is the bond market
Week ahead – Fed’s Jackson Hole and Nvidia earnings to dictate markets
Kevin Warsh to make his Jackson Hole debut amid confusing messaging. But a major hawkish surprise unlikely after bond market intervention. Nvidia earnings to also determine market direction as stock rally cools.
EDUCATION
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