investingLive Americas FX news wrap 5 May: USD lower. Stocks higher. Yields lower.

AMD beats Q1 earnings estimates with revenue of $10.25bn and strong Q2 outlook NASDAQ and S&P index close at record levels Crude oil trades between 100/200 hour MAs. Neutral bias. Rubio: Iran creating long range missiles that could reach parts of Europe Bitcoin buyers push to the highest level since the end of January Atlanta Fed GDPNow growth estimate 3.7% Trump news: Will talk about Iran with China's Xi ECB's Villeroy: Not seeing sufficient signs yet to raise rates US New Home sales for March 0.682M vs 0.650M estimate ISM non-manufacturing PMI 53.6 versus 53.7 estimate JOLTs job openings 6.866M vs 6.835M estimate US S&P Global PMI services for April 2026 51.0 versus 51.3 expected Canada S&P Global services PMI 49.2 vs 47.2 last month Sec of War Hegseth: Ceasefire is not over Canada trade balance for March +$1.8B vs -$2.88B estimate. US international trade for March -$60.3B vs -$60.9B estimate investingLive European FX news wrap: RBA hikes to 4.35% as expected, JPY slides further There was a number of economic releases today story with trade data from the US and Canada. The U.S. trade balance for the latest month showed a deficit of -$60.1B, widening from the prior month’s -$57.3B, but coming in better than the -$60.9B estimate. The increase in the deficit was driven primarily by a larger goods trade gap of -$88.7B, which widened by $4.1B, even as the services surplus improved to $28.4B, up $1.6B from the previous month. On the flow side, exports rose to $320.9B (+2.0% / +$6.2B), but were outpaced by imports at $381.2B (+2.3% / +$8.7B), explaining the overall deterioration in the balance. Bottom line: trade activity picked up on both sides, but stronger import growth led to a wider deficit, even as the result modestly beat expectations. Canada showed a trade surplus of $1.8B vs expectations of a deficit of -$2.88B. Later ISM non-manufacturing data came in near expectations of 53.6 versus 53.7 estimate.The data showed solid headline growth but weakening breadth and demand under the surface. The Services PMI 53.6 reading was above its 12-month average of 52.5%, which itself has now increased for a fourth straight month, signaling steady overall expansion. However, growth was less widespread, with only 4 industries expanding versus 13 in March, while new orders fell sharply by 7.1 points, offsetting gains in business activity, employment, and supplier deliveries. Supply conditions tightened, with slower deliveries, and backlogs remained elevated, suggesting lingering capacity constraints.Trade activity was a bright spot, with exports and imports expanding for a third consecutive month. On inflation, pressures remain firm: the Prices Index stayed elevated above 70, with no commodities declining in price and widespread increases across inputs like aluminum, copper, lumber, and petroleum products. Importantly, energy costs have not yet been fully passed through, pointing to continued upward price pressure in the months ahead. The Bottom line: growth continues, but demand is softening, breadth is narrowing, and inflation—driven in part by energy—remains a persistent concern. In other data, the JOLTs job opening remains solid and not deteriorating. New-home sales were higher than expectations as well but prices did come down. In the markets, the U.S. dollar was mostly lower, but price action across the majors was driven by key technical breaks and tests. The USDJPY pushed higher in the European session, finally breaking above its 100-day moving average at 157.30 after multiple days of holding that line as resistance. That break gave buyers the green light to extend toward—and ultimately above—the falling 100-hour moving average near 157.53, strengthening the bullish bias into the close. Looking ahead, the next upside target comes in against the swing area between 157.97 and 158.26. On the downside, risk shifts back to sellers on a move below the 100-hour MA (~157.50) and the 100-day MA (157.33)—key risk-defining levels for buyers. Th