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EUR/USD posts marginal gains on Wednesday, to snap a three-day losing streak, and trades near 1.1610 after hitting one-week lows right below 1.1600 earlier on the day. The US Dollar (USD) has lost some of its recent shine, as the Gold sell-off halts and the US government shutdown continues without prospects of an immediate solution.On Tuesday, US President Donald Trump rebuffed meeting requests by Democratic lawmakers from the previous day, saying that he will not meet them until the government reopens. Meanwhile, the shutdown enters its fourth week as the Senate failed to pass a funding resolution for the 11th…

The EUR/USD pair attempts to stabilize around 1.1600 during Wednesday’s Asian session, following a three-day losing streak. The major currency pair struggles to gain ground as the US Dollar (USD) holds its recent upside move, which came in the wake of easing trade tensions between the United States (US) and China.During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, holds onto recent gains near 99.00.Trade tensions between the US and China appear to be receding following comments from President Donald Trump that both Washington and Beijing will reach a consensus after…

The USD/JPY pair attracts some buyers to six-day peaks near 151.90 during the early Asian session on Wednesday. The Japanese Yen (JPY) weakens against the US Dollar (USD) after dovish Sanae Takaichi was elected as Japan’s Prime Minister. Traders will take more cues from the speeches of Federal Reserve (Fed) officials later on Wednesday, including Alberto Musalem and Michael Barr.Japan’s parliament on Tuesday elected ultraconservative Sanae Takaichi as the country’s first female prime minister. Takaichi vowed to strengthen the nation’s economy and defense capabilities and enhance relations with the US. Her victory came after the ruling Liberal Democratic Party (LDP) allied with the Japan Innovation Party and…

Gold (XAU/USD) drifts lower on Tuesday after retesting its record high near $4,380 on Monday. The pullback comes as the US Dollar (USD) extends its recovery gains and traders lock in profits following an overextended rally. At the time of writing, XAU/USD is trading around $4,135, down nearly 5% after briefly slipping to $4,081 earlier in the day.An improved risk appetite is weighing on the Bullion as investors show cautious optimism amid hopes of easing trade tensions between the United States (US) and China. Increasingly positive headlines have fueled expectations that the 100% tariffs US President Donald Trump threatened to…

Canada’s inflation edged higher in September, with the Consumer Price Index (CPI) rising 2.4% from a year earlier, up from August’s 1.9% increase, according to Statistics Canada. The figure came in just above market expectations, while prices gained 0.1% on a monthly basis.The Bank of Canada’s (BoC) preferred core CPI measure, which strips out volatile components such as food and energy, rose 2.8% over the last twelve months and climbed 0.2% on the month.Among the central bank’s closely watched inflation gauges, the Common CPI increased 2.7% on an annual basis, the Trimmed CPI climbed 3.1%, and the Median CPI rose…

Reserve Bank of India (RBI) logo | Photo Credit: FRANCIS MASCARENHAS The Reserve Bank sold $7.7 billion in August to check exchange rate volatility as well as to arrest the decline in value of the rupee against the American currency. The central bank’s net sale of US dollars was at $7.69 billion in August, nearly three times higher than in the preceding month, according to the data on sale/purchase of US dollars published in the RBI’s latest bulletin. The data also showed that the Reserve Bank did not purchase US dollars in July and August. Reserve Bank’s stated position is…

The USD/CAD pair maintains a bullish bias amid weak oil prices and heightened expectations of rate cuts by the Bank of Canada. This week’s upcoming Canadian CPI release could boost the CAD if the data exceeds the forecast. Traders look forward to the Canadian CPI and FOMC’s Waller’s comments for further policy cues.  The USD/CAD forecast shows an uptrend around 1.4050, backed by a waning Canadian dollar amid declining oil prices and rising BoC rate cut bets. The Bank of Canada business outlook indicated an improvement in business sentiment. –Are you interested in learning more about crypto robots? Check our…

After a brief period of uncertainty, Sanae Takaichi was elected as Japan’s first female prime minister early this morning. After she was elected chair of the LDP in early October, this seemed to be a foregone conclusion. However, after coalition partner Komeito surprisingly terminated the coalition following initial exploratory talks, the election, which was supposed to take place in the lower house on October 15, had to be postponed once again, Commerzbank’s FX analyst Volkmar Baur notes. USD/JPY to continue trending sideways”For a brief moment, it seemed as if the opposition parties would be able to agree on a joint…

The EUR/USD pair extends its two-day downside move to near 1.1630 during the Asian trading session on Tuesday. The major currency pair faces selling pressure as the US Dollar (USD) gains on hopes that the ongoing United States (US) government shutdown will end this week.During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, extends its upside to near 98.70. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen. USDEURGBPJPYCADAUDNZDCHFUSD0.06%0.10%0.24%0.08%0.08%0.19%0.06%EUR-0.06%0.04%0.18%0.03%0.03%0.13%0.00%GBP-0.10%-0.04%0.12%-0.02%-0.01%0.09%-0.04%JPY-0.24%-0.18%-0.12%-0.17%-0.15%-0.05%-0.17%CAD-0.08%-0.03%0.02%0.17%0.00%0.12%-0.01%AUD-0.08%-0.03%0.01%0.15%-0.01%0.10%-0.04%NZD-0.19%-0.13%-0.09%0.05%-0.12%-0.10%-0.13%CHF-0.06%-0.00%0.04%0.17%0.01%0.04%0.13% The heat…

The dollar edged higher against the yen on Monday as investors shifted their focus to political developments in Japan and the euro area, while U.S. credit risk concerns lingered.The yen edged lower as hardline conservative Sanae Takaichi is almost certain to become Japan’s first female prime minister after a decisive parliamentary vote.Her expected premiership, backed by a new coalition with the right-wing Japan Innovation Party, has raised investor concerns over potential fiscal expansion, which could weigh on the yen.”Market participants will now be watching closely to see what fiscal plans are put together by the new coalition government,” said MUFG…