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AUD/USD remains confined in a multi-day-old trading range ahead of Australian CPI, Chinese PMIs
AUD/USD extends its sideways consolidative price move for the fourth straight day on Wednesday as traders prefer to wait on the sidelines ahead of the crucial data/event risks. The quarterly Australian CPI report, accompanied by the official PMI prints from China, should provide some impetus to the Aussie.
USD/JPY tumbles as BoJ rate hike rumors, overshadows strong US data
The USD/JPY finished Tuesday’s session with losses amid rumors that the Bank of Japan will hike rates on Wednesday’s monetary policy decision. This headline overshadowed a strong US jobs report in the United States, reinforcing a tight labor market.
Gold consolidates just below the $2,400 mark
Gold fluctuates in a narrow channel below $2,400 after closing the first trading day of the week little changed. The 10-year US Treasury bond yield holds steady slightly below 4.2% after US data, making it difficult for XAU/USD to gain traction.
Ethereum price dynamics combined with Q2 insights suggest ETH has potential for another rally in current cycle
Ethereum is down 1.5% on Tuesday despite several market participants acknowledging its ninth anniversary. Meanwhile, Glassnode shared key ETH Q2 insights that may prove beneficial as the market takes shape in Q3.
Australia CPI Preview: Inflation figures could set the RBA path
Australia will publish fresh inflation-related figures on Wednesday, just before the Bank of Japan and the US Federal Reserve monetary policy announcements. The Australian Bureau of Statistics will release two different inflation gauges on Wednesday.