XLM/USD Exchange rate

AUD/USD advanced for the third consecutive session on Wednesday, reaching four-month highs in levels shy of the 0.6700 hurdle ahead of the release of the key labour market report in Australia on Thursday.

The strong CPI-driven pullback in the Greenback allowed EUR/USD to maintain its multi-session rebound well in place, approaching the key 1.0900 region on Wednesday.

Gold trades modestly higher on the day above $2,360 in the American session. The data from the US showed that annual inflation edged lower to 3.4% in April as expected. The benchmark 10-year US Treasury bond yield stays in the red below 4.4%, allowing XAU/USD to keep its footing.

Bitcoin (BTC) price has shown strength, displaying a god candle on Wednesday during the early hours of the American session. Notably, it is an interesting turn considering how poorly BTC has been performing during this session in the recent weeks.

The first CPI report of Q2 should be seen as welcome news by the FOMC. The headline CPI rose 0.3% in April, a tenth below consensus expectations, while the core CPI also increased 0.3%, in line with expectations but a downshift from the pace registered in Q1.