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DBS Group Research economists Radhika Rao and Chua Han Teng note that the US court ruling invalidates unilateral IEEPA tariffs on ASEAN-6, shifting them to MFN plus a 15% Section 122 levy until July 2026. Malaysia, Thailand, Vietnam and Indonesia see lower effective rates, while Singapore’s rises slightly but remains lowest. The bank keeps its regional economic projections unchanged.IEEPA reversal and Section 122 impact”Firstly, unilateral tariffs imposed by the US on the region under the IEEPA are likely to be deemed invalid.””These countries will now face their respective MFN rates plus a global 15% tariff under Section 122, which will…
West Texas Intermediate (WTI), futures on NYMEX, are down 0.3% to near $66.20 during the European trading session on Tuesday. The Oil price is slightly under pressure, but is still close to its over six-month high of $67.23.A higher US Dollar (USD) is expected to have weighed on the oil price. As of writing, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, is up 0.15% higher to near 97.85 ahead of the United States (US) markets openingThe oil price is broadly firm amid tensions between the US and Iran over Tehran’s nuclear plans. Washington…
The Indian rupee closed modestly weaker on Tuesday, weighed down by a drop in local stocks and strong dollar demand from the non-deliverable forwards market, though losses were limited by central bank intervention.The rupee settled at 90.95 per dollar, down 0.1% on the day, hovering around its weakest level since early February.The dollar index was a tad higher while the Chinese yuan hit the strongest level in nearly three years as traders bet the U.S. Supreme Court ruling against President Donald Trump’s tariffs will bolster Chinese exports.India’s benchmark equity indexes, the BSE Sensex and Nifty 50, fell over 1% each…
The rupee traded in a narrow range on Tuesday and settled 6 paise lower at 90.95 (provisional) against the US dollar amid a firm greenback and higher crude oil prices.A sharp fall in domestic equity markets and uncertainties over the India-US trade deal further pressured the local unit, while foreign fund inflows lent some support, forex traders said.At the interbank foreign exchange, the rupee opened at 90.91 and traded in a narrow range of 90.91-90.97 due to possible intervention by the Reserve Bank of India (RBI). It ended the session at 90.95 (provisional), down 6 paise from its previous close.The…
Danske Bank’s Danske Research Team notes that trade tensions remain elevated after the European Parliament postponed ratification of the EU-US trade deal over concerns about Trump’s new unilateral 15% tariff. China is urging Washington to remove unilateral tariffs, India has delayed talks, and the UK is warning of potential retaliation as the new global tariff framework begins at 10%.EU-US deal delay and global tariff risks”In Brussels, the European Parliament postponed ratification of the EU-US trade deal amid concerns that Trump’s new unilateral 15% tariff breaches the ‘Turnberry accord’ agreed last summer.””Meanwhile, China has urged Washington to remove unilateral tariffs, India…
The rupee fell by 7 paise to 90.96 against the US dollar in early trade on Tuesday, weighed down by a rise in global crude oil prices and a stronger greenback. A poor start to the domestic equity markets further pressured the local unit, but FII inflows provided support, preventing a sharp fall, forex traders said. At the interbank foreign exchange, the rupee opened at 90.91 against the US dollar and slipped further to 90.96, down 7 paise from its previous close.The rupee gained 5 paise to settle at 90.89 against the US dollar on Monday. “The Reserve Bank might…
The Indian central bank was likely selling US dollars on Tuesday to prevent the rupee from falling past the psychologically important 91-per-dollar mark, three traders told Reuters.The rupee was at 90.9525 per dollar, down about 0.1 per cent on the day. Published on February 24, 2026 Source
Gold (XAU/USD) retreats sharply from the $5,250 level, or a fresh monthly peak touched during the Asian session, and for now, seems to have snapped a four-day winning streak. Following the previous day’s knee-jerk fall in reaction to US President Donald Trump’s new global tariffs and the subsequent bounce, the US Dollar (USD) attracts fresh buyers in the wake of the US Federal Reserve’s (Fed) hawkish outlook. This, in turn, is seen as a key factor exerting downward pressure on the commodity.In fact, minutes from the January FOMC meeting showed last week that several Fed officials judged that additional policy…
RBI is likely to start buying dollars to bolster its foreign-exchange reserves once the rupee strengthens to around 88—89 per dollar, according to Citigroup Inc.’s local markets head.“In the short-term, we see the rupee in a band of 90 to 91.25 per dollar,” Aditya Bagree, head of markets for India and the subcontinent, said in an interview in Mumbai. The currency closed 0.1% higher at 90.88 on Monday. Although the RBI’s reserves are at a record high, boosted by a historic rally in gold, it is carrying a $62 billion short forward book. As those contracts mature, the central bank will…
GBP/USD spent Monday spinning in place as market participants await a fresh catalyst to break the pair out of its recent range. The BoE’s February hold came with a surprisingly dovish 5-4 split, and UK Consumer Price Index (CPI) data last week showed inflation easing to 3.0%, reinforcing the case for earlier rate cuts, with most economists now looking to April or March for the next move. On the US side, the Fed is holding rates at 3.50% to 3.75%, and the January CPI print at 2.4% supports a patient approach, though the Supreme Court’s decision to strike down IEEPA…