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11 May 2026, 03:30

Netanyahu wants Israel to eliminate US funding, says Iran war not over amid rising oil prices

Israeli Prime Minister Benjamin Netanyahu has said on a broadcast interview aired on CBS’s “60 Minutes” that he would like to “draw down to zero the American financial support” for Israel and its military amid remarks that the war with Iran is far from over. Netanyahu mentioned these thoughts in his first US broadcast interview since the conflict in Iran started, speaking with CBS News correspondent Major Garrett on Sunday. The interview aired as the war between the US and Iran now moves into its 11th week. He claims the war is not in any way over yet, citing unresolved threats from enriched uranium, proxy forces, and ballistic missile programs. This comes as suspected Iranian drone strikes in the Persian Gulf tested a fragile ceasefire the same day it was announced. Israel and Iran war, Strait of Hormuz and oil price fallout The war’s economic toll has been felt globally, as its consequences have continued to mount in the past weeks. Iran’s military actions against neighboring Gulf states disrupted shipping through the Strait of Hormuz, a chokepoint for roughly one-fifth of the entire world’s oil supply. Cryptopolitan has previously reported that the closure sent energy prices into sharp, rapid rises all over the world, climbing as oil markets traded in a continuous disruption of oil supply. White House efforts to close a deal that would reopen the strait and stabilize energy prices remain ongoing, according to CBS News . Netanyahu acknowledged that the threat to the Hormuz Strait “became understood” as fighting progressed, and conceded he does not “claim perfect foresight.” BREAKING: Israel’s President Netanyahu says he wants US financial support to Israel to “draw down to zero.” pic.twitter.com/IPnTXAVC3B — The Kobeissi Letter (@KobeissiLetter) May 10, 2026 US financial aid phase out and what this means Netanyahu’s interest in phasing out US financial support is a change in rhetoric, given Israel receives billions annually in military aid from the US. The prime minister said Israel receives about $3.8 billion of US military aid per year. The US had also agreed to provide a whooping $38 billion to Israel in military aid from 2018 till 2028. Netanyahu did not provide a timeline or specifics on how the phasing out to zero would work during the interview. However, this stand is not surprising as Israel has become increasingly unpopular among US citizens. A survey conducted by Pew research in March stated that sixty percent of US adults have a rather unfavorable sentiment towards Israel, while 59% of the respondents had little belief in Netanyahu to make right decisions regarding global affairs. The prime minister has also claimed that it was “absolutely the right time” to reset the US-Israeli financial relationship, stating that he “didn’t want to wait for the next congress.” Global crude oil markets have also reacted to this flurry of news with slight surges as Brent crude currently trades at $104.6 at the time of writing, up 3.2%. WTI crude, natural gas, and gasoline are also all up 3.76%, 2.54%, and 1.89% respectively as at the time of writing. The smartest crypto minds already read our newsletter. Want in? Join them .

11 May 2026, 03:20

Australian Dollar Holds Weakness as Markets Eye China Inflation Data

BitcoinWorld Australian Dollar Holds Weakness as Markets Eye China Inflation Data The Australian dollar remained under pressure against the US dollar in early Asian trading on Tuesday, extending its recent decline as investors adopted a cautious stance ahead of China’s consumer price index (CPI) release. The AUD/USD pair hovered near session lows, reflecting persistent headwinds from global trade uncertainties and diverging monetary policy expectations between the Reserve Bank of Australia (RBA) and the Federal Reserve. Market Context and Key Drivers The Australian dollar has been struggling to regain upward momentum, weighed down by a combination of factors. China’s economic data, particularly inflation figures, is closely watched by forex traders given Australia’s deep trade ties with its largest export partner. A weaker-than-expected CPI reading from China could signal subdued domestic demand, potentially reducing commodity demand and further pressuring the Aussie. Meanwhile, the US dollar has found support from hawkish Fed rhetoric and resilient US economic data, widening the interest rate differential in favor of the greenback. The RBA’s recent decision to hold rates steady, while acknowledging inflation risks, has done little to shift the narrative, leaving the AUD vulnerable to external shocks. China CPI: What to Expect Economists polled by Reuters expect China’s headline CPI to rise 0.4% year-on-year in March, slightly higher than the previous month’s 0.3% gain. However, core inflation remains subdued, reflecting weak consumer confidence and a property sector that continues to drag on the economy. A miss on expectations could renew concerns about deflationary pressures in China, which would have negative implications for the Australian dollar and commodity-linked currencies. Analysts at Commonwealth Bank of Australia noted that “the Aussie is increasingly sensitive to Chinese economic releases, as markets look for signs of a sustained recovery. A soft CPI print could push AUD/USD below the 0.6500 support level.” Broader Implications for Forex Markets The AUD/USD pair is currently trading near the lower end of its recent range, with support around 0.6520 and resistance near 0.6600. A break below the support level could open the door for a test of the 0.6450 region, last seen in early March. Conversely, a stronger-than-expected Chinese CPI reading could trigger a short-term bounce, though the broader trend remains bearish. Beyond the CPI release, traders are also monitoring developments in US trade policy and geopolitical tensions, which continue to inject volatility into risk-sensitive currencies like the Australian dollar. The RBA’s next policy meeting in May will also be a key event, with markets pricing in a low probability of a rate cut in the near term. Conclusion The Australian dollar’s near-term trajectory hinges on China’s inflation data and its implications for global demand. While a positive surprise could provide temporary relief, the structural headwinds facing the Aussie—including a strong US dollar, sluggish Chinese growth, and cautious RBA policy—suggest that any recovery may be limited. Traders should remain vigilant for increased volatility around the data release and adjust their positions accordingly. FAQs Q1: Why is the Australian dollar affected by China’s CPI data? China is Australia’s largest trading partner, and its inflation data provides insights into domestic demand and economic health. Weak CPI may signal lower commodity demand, negatively impacting the Australian dollar. Q2: What is the current support level for AUD/USD? The AUD/USD pair has support around 0.6520. A break below this level could lead to a test of the 0.6450 region. Q3: How does RBA policy influence the Australian dollar? The RBA’s interest rate decisions and forward guidance affect the AUD’s yield attractiveness relative to other currencies. A hawkish stance supports the dollar, while a dovish stance weakens it. This post Australian Dollar Holds Weakness as Markets Eye China Inflation Data first appeared on BitcoinWorld .

11 May 2026, 03:10

China Inflation Beats Forecasts: CPI Hits 1.2% in April, Signaling Steady Consumer Demand

BitcoinWorld China Inflation Beats Forecasts: CPI Hits 1.2% in April, Signaling Steady Consumer Demand China’s consumer price index (CPI) rose 1.2% in April compared to the same month last year, official data showed on Saturday, accelerating from March’s 0.9% increase and surpassing the 0.8% consensus forecast among economists. The stronger-than-expected reading suggests domestic demand is stabilizing, even as the broader economic recovery faces headwinds from global trade tensions and a sluggish property sector. Key Drivers Behind the CPI Beat The National Bureau of Statistics attributed the uptick primarily to rising food prices, which climbed 2.5% year-on-year. Fresh vegetable prices surged 8.3% due to adverse weather in key growing regions, while pork prices, a staple protein, edged up 1.4% after months of decline. Non-food inflation remained moderate at 0.8%, with service sector prices rising 1.1% as domestic tourism and dining out continued to recover. Core CPI, which strips out volatile food and energy costs, held steady at 0.7% year-on-year, unchanged from March. This indicates that underlying inflationary pressures remain contained, giving policymakers room to maintain accommodative monetary settings if needed. Market and Policy Implications The data comes ahead of the People’s Bank of China’s (PBOC) next rate decision in mid-May. Most analysts expect the central bank to hold its one-year loan prime rate at 3.1% and the five-year rate at 3.6%, as inflation remains below the PBOC’s 3% target for 2026. However, the above-consensus CPI print may reduce the urgency for further stimulus, particularly as industrial producer prices (PPI) have been rising steadily. Producer price index (PPI) data for April is scheduled for release next week, with markets forecasting a 4.5% year-on-year increase. A sustained rise in factory-gate prices could eventually feed through to consumer costs, though the pass-through has been muted so far due to weak retail competition and cautious household spending. What This Means for Investors and Consumers For financial markets, the CPI beat is a modest positive signal for consumer-linked sectors such as food & beverage, retail, and tourism. However, the data alone is unlikely to shift the PBOC’s gradual approach to policy normalization. For ordinary households, the rise in fresh vegetable prices is the most immediate impact, though the overall inflation rate remains well below levels that would strain real incomes. International observers will watch the next round of trade negotiations between Beijing and Washington closely. Any escalation in tariffs could disrupt supply chains and push import costs higher, adding to inflationary pressures later in the year. Conclusion China’s April CPI reading exceeded expectations, driven largely by seasonal food price increases. While the data signals steady consumer demand, core inflation remains subdued, suggesting the PBOC is likely to keep policy unchanged in the near term. The key risk to the inflation outlook remains external, particularly trade policy developments that could affect input costs and supply chains. FAQs Q1: Why did China’s CPI inflation exceed expectations in April? A: The main driver was a sharp rise in fresh vegetable prices due to adverse weather in key agricultural regions. Food prices overall increased 2.5% year-on-year, pushing the headline CPI above the 0.8% consensus forecast. Q2: How will this inflation data affect the PBOC’s monetary policy? A: The PBOC is expected to hold rates steady at its next meeting. Core inflation remains below the 3% target, and the central bank is likely to maintain a cautious, data-dependent approach, prioritizing economic stability over reacting to a single monthly print. Q3: What is the outlook for Chinese consumer prices for the rest of 2026? A: Inflation is expected to remain moderate, with the full-year average likely between 1.5% and 2.0%. Key variables include global commodity prices, trade policy, and the pace of domestic demand recovery. A sharp escalation in tariffs could push inflation higher by raising import costs. This post China Inflation Beats Forecasts: CPI Hits 1.2% in April, Signaling Steady Consumer Demand first appeared on BitcoinWorld .

11 May 2026, 03:05

Australian Dollar Under Pressure as China’s CPI Data Signals Deflationary Trend

BitcoinWorld Australian Dollar Under Pressure as China’s CPI Data Signals Deflationary Trend The Australian dollar edged lower against the US dollar on Monday, extending its recent losses as fresh inflation data from China pointed to persistent deflationary pressures in Australia’s largest trading partner. The AUD/USD pair slipped below the 0.6500 mark, reflecting market concerns over weakening demand from China and its potential spillover effects on the Australian economy. China’s CPI Data Disappoints Markets China’s Consumer Price Index (CPI) for February rose just 0.7% year-on-year, below market expectations of 0.8% and down from January’s 0.9% reading. The data, released by the National Bureau of Statistics, signals that deflationary risks remain entrenched despite recent stimulus measures from Beijing. Core inflation, which excludes volatile food and energy prices, remained subdued at 0.5%. The softer-than-expected CPI print reinforces the view that China’s economic recovery remains uneven. For the Australian dollar, which is highly sensitive to China’s economic health due to Australia’s commodity export reliance, the data adds to headwinds already weighing on the currency. RBA Rate Cut Bets Weigh on AUD Domestically, the Australian dollar has been under pressure from growing expectations that the Reserve Bank of Australia (RBA) may cut interest rates later this year. The RBA held its cash rate steady at 4.10% at its March meeting, but softened its forward guidance, acknowledging that inflation is moderating faster than previously anticipated. Market pricing now implies a 60% probability of a rate cut by August, compared to just 30% a month ago. Lower interest rate expectations typically reduce a currency’s appeal to yield-seeking investors, contributing to the AUD’s recent weakness. Impact on Traders and Importers A weaker Australian dollar has mixed implications. Exporters, particularly in the mining and agricultural sectors, benefit from improved competitiveness abroad. However, importers face higher costs for goods and services, which could feed into domestic inflation over time. For Australian consumers, a lower AUD means more expensive overseas travel and imported electronics. Technical Outlook for AUD/USD From a technical perspective, the AUD/USD pair is testing key support around the 0.6480 level, a zone that has held multiple times since November. A decisive break below this level could open the door for a move toward the 0.6400 handle, last seen in October. On the upside, resistance is seen near 0.6550, followed by the 50-day moving average at 0.6600. Conclusion The Australian dollar’s decline reflects a confluence of external and domestic pressures: persistent deflation in China, growing RBA rate cut expectations, and a broadly stronger US dollar. While the currency may find some support from elevated commodity prices, the near-term outlook remains tilted to the downside. Traders will be watching upcoming Australian employment data and US Federal Reserve commentary for further directional cues. FAQs Q1: Why does China’s CPI data affect the Australian dollar? China is Australia’s largest trading partner, accounting for over 30% of total exports. Weak Chinese inflation signals subdued demand, which reduces demand for Australian commodities like iron ore and coal, negatively impacting the AUD. Q2: What is the current RBA interest rate? The Reserve Bank of Australia’s cash rate stands at 4.10% as of March 2025. Markets are pricing in a potential rate cut by August 2025 due to easing inflation. Q3: Is a weaker Australian dollar good or bad for the economy? It is a mixed bag. Exporters benefit from more competitive pricing abroad, but importers face higher costs, which can increase domestic inflation. Consumers feel the pinch through more expensive imported goods and overseas travel. This post Australian Dollar Under Pressure as China’s CPI Data Signals Deflationary Trend first appeared on BitcoinWorld .

11 May 2026, 03:00

Canadian Dollar Pressured by Stronger USD, but Rising Oil Prices Provide a Floor

BitcoinWorld Canadian Dollar Pressured by Stronger USD, but Rising Oil Prices Provide a Floor The Canadian dollar remained under pressure against a broadly stronger US dollar on Wednesday, though a continued rally in crude oil prices helped limit the downside for the commodity-linked currency. The USD/CAD pair traded near session highs, reflecting persistent demand for the greenback amid shifting interest rate expectations and global risk sentiment. What’s Driving the Canadian Dollar Lower? The primary catalyst for the loonie’s weakness is the renewed strength in the US dollar. The US Dollar Index (DXY) climbed to multi-week highs as markets reassessed the Federal Reserve’s monetary policy path. Resilient US economic data, including stronger-than-expected retail sales and labor market figures, have tempered expectations for aggressive rate cuts in 2025. This has pushed US Treasury yields higher, making the dollar more attractive to yield-seeking investors. In contrast, the Bank of Canada (BoC) has maintained a more cautious tone. While the BoC held its key interest rate steady at its last meeting, recent domestic data—including a slowdown in GDP growth and cooling inflation—has fueled speculation that the central bank may begin easing policy sooner than its US counterpart. This policy divergence is a key headwind for the Canadian dollar. Oil Prices: The Key Counterweight Limiting the loonie’s losses is the sharp rise in crude oil prices. West Texas Intermediate (WTI) crude surged past $85 per barrel, its highest level in several months, driven by tightening global supply. OPEC+ production cuts, ongoing geopolitical tensions in the Middle East, and a drawdown in US crude inventories have all contributed to the rally. As a major oil exporter, Canada’s economy and currency are highly sensitive to energy price fluctuations. Higher oil revenues improve Canada’s terms of trade and typically provide a tailwind for the loonie. The correlation between oil prices and USD/CAD remains strong, and the recent move in crude has prevented a more significant breakdown in the Canadian dollar. Market Implications for Traders For forex traders, the current dynamic presents a classic tug-of-war. The near-term trend favors the US dollar, but the resilience of oil prices introduces a layer of support that could lead to range-bound trading in USD/CAD. Key technical levels to watch include the 1.3800 resistance zone and support near 1.3650. A break above resistance could open the door to a test of the 1.3900 area, while a sustained move below support would signal a shift in momentum. Fundamentally, the outlook hinges on the next set of economic data releases. US inflation figures (PCE) and Canadian GDP data due later this week will be closely scrutinized for clues on the relative pace of monetary policy. Conclusion The Canadian dollar is caught between a strengthening US dollar and rising oil prices. While the immediate pressure from a hawkish Fed repricing is clear, the energy price rally provides a crucial buffer. Traders should monitor both central bank communications and oil inventory reports for the next directional catalyst. The loonie is likely to remain volatile, with the balance of risks tilted toward further weakness unless oil prices accelerate significantly or US data disappoints. FAQs Q1: Why is the US dollar getting stronger? The US dollar is strengthening because strong US economic data has reduced expectations for aggressive interest rate cuts by the Federal Reserve, making the dollar more attractive compared to currencies from countries with looser monetary policy outlooks. Q2: How do oil prices affect the Canadian dollar? Canada is a major oil exporter. When oil prices rise, Canada’s export revenues increase, which improves the country’s trade balance and typically supports the Canadian dollar. Conversely, falling oil prices tend to weaken the loonie. Q3: What is the key level to watch in USD/CAD? The key resistance level is around 1.3800. If the pair breaks above that, it could target 1.3900. On the downside, support is at 1.3650. A break below that level would suggest the Canadian dollar is gaining strength against the greenback. This post Canadian Dollar Pressured by Stronger USD, but Rising Oil Prices Provide a Floor first appeared on BitcoinWorld .

11 May 2026, 02:50

Japanese Yen Slides Against Firmer USD as Iran Tensions Escalate; Intervention Risks Loom

BitcoinWorld Japanese Yen Slides Against Firmer USD as Iran Tensions Escalate; Intervention Risks Loom The Japanese yen weakened against a broadly stronger US dollar on Tuesday, pressured by escalating geopolitical tensions in the Middle East following renewed hostilities involving Iran. The move pushed the USD/JPY pair higher, though persistent intervention risks from Japanese authorities limited further depreciation. Geopolitical Tensions Drive Safe-Haven Demand for USD Renewed military action and heightened rhetoric between Iran and regional actors triggered a flight to safety in global markets. The US dollar, traditionally a primary safe-haven currency, benefited from the uncertainty, drawing capital away from risk-sensitive assets and currencies like the yen. The yen, despite its own safe-haven status, has been under sustained pressure due to the wide interest rate differential between Japan and the United States. Market participants noted that the yen’s decline was more pronounced against the dollar than against other major currencies, reflecting the greenback’s broad strength. The USD/JPY pair rose to the mid-151 range during Asian trading, approaching levels that have previously prompted verbal warnings and actual intervention from Japan’s Ministry of Finance. Intervention Risks Cap Yen Weakness Japanese officials have repeatedly signaled their readiness to intervene in the foreign exchange market to counter disorderly and speculative movements. Finance Minister Shunichi Suzuki and top currency diplomat Masato Kanda have both issued warnings in recent weeks, emphasizing that authorities are watching currency moves with a high sense of urgency. These warnings have created a cautious environment for traders, who are wary of pushing the yen too far too fast. The 152 level is widely viewed as a potential trigger point for intervention, similar to the pattern seen in late 2023 when Japan stepped in to support its currency. As a result, while the yen remains under pressure, the pace of depreciation has been moderated by the constant threat of official action. Market Implications and Outlook The combination of geopolitical risk and intervention risk presents a complex outlook for USD/JPY. On one hand, any further escalation in Iran-related tensions could drive the dollar higher, pushing the pair toward the 152 threshold. On the other hand, traders must weigh the risk of sudden, sharp yen strengthening if Japanese authorities decide to intervene. Beyond geopolitics, the focus remains on the Bank of Japan’s monetary policy path. The BOJ has begun to normalize policy, but the pace remains gradual, keeping the yield gap with the US wide. This structural factor continues to underpin yen weakness, making any intervention a potential temporary fix rather than a long-term solution. Conclusion The Japanese yen’s slide against the US dollar reflects a market caught between escalating Middle East tensions and the persistent threat of official intervention. While the dollar’s safe-haven appeal is likely to persist in the near term, traders remain cautious of triggering a response from Tokyo. The evolving geopolitical situation and upcoming US economic data will be key factors determining whether the yen can stabilize or faces further losses. FAQs Q1: Why is the Japanese yen weakening despite geopolitical tensions? The yen is weakening primarily due to the wide interest rate differential between Japan and the US. While the yen is a safe-haven currency, the US dollar is currently attracting more safe-haven flows because of higher yields and its status as the world’s primary reserve currency. Q2: What level might trigger Japanese intervention in the forex market? While Japanese authorities do not specify exact levels, the 152 level on USD/JPY is widely considered a potential trigger point, similar to the intervention seen in late 2023. Traders are cautious near this threshold. Q3: How do Iran tensions affect the USD/JPY pair? Escalating tensions in the Middle East increase demand for safe-haven assets. The US dollar benefits from this flight to safety, pushing USD/JPY higher. However, the yen’s own safe-haven status and intervention risks create a counterbalance that limits the pair’s upside. This post Japanese Yen Slides Against Firmer USD as Iran Tensions Escalate; Intervention Risks Loom first appeared on BitcoinWorld .