AUDUSD Divergence and Oil Drops Ahead of Nvidia Earnings

Markets are navigating a tense holding pattern as traders balance a packed macro docket with high-stakes tech earnings [1][2]. Equity benchmarks like the S&P 500 and Dow Jones have maintained mild intraday gains [3][4], helped by cooling bond yields and a steep drop in energy markets [5][6]. That relief stems from easing geopolitical anxieties following reported talks between Iran and Oman regarding safe navigation through the Strait of Hormuz, which took substantial risk premium out of crude contracts [7][8]. Meanwhile, fresh U.S. data highlighted persistent price dynamics, with second-quarter GDP holding at 1.5% and July Core PCE…