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The Swiss Franc (CHF) holds onto Monday’s losses around 0.8088 against the US Dollar (USD) during the Asian trading session on Tuesday. The Swiss Franc pair faces selling pressure due to continued outperformance by the US Dollar amid firm expectations that the Federal Reserve (Fed) will hike interest rates this year.At press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, ticks higher at around 101.05, the highest level seen in over a year.According to the CME FedWatch tool, the odds of the Fed hiking interest rates this year are almost 87%.Hawkish Fed bets…
Gold price (XAU/USD) trades on a flat note near $4,190 during the early Asian session on Tuesday. The precious metal steadies as traders continue to assess the developments surrounding the US-Iran peace deal.US Vice President JD Vance said on Monday that negotiations between the US and Iran have made “great progress” despite “threatening” and “whining,” per CNBC. Vance added that the talks in Bürgenstock, Switzerland, were continuing and Tehran had agreed to permit International Atomic Energy Agency (IAEA) inspectors back into Iran.The talks were strained over the weekend when Iran announced it had closed the Strait of Hormuz over Israeli…
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD remains supported around 1.29 as the Singapore Dollar (SGD) Nominal Effective Exchange Rate (S$NEER) trades near the top of its band, implying the pair should hover close to this level. In the short term, they expect consolidation between 1.2900 and 1.2935, while over the coming weeks the pair could push toward 1.2960 if support at 1.2870 holds.Upside bias while consolidation persists”24-HOUR VIEW: While we indicated last Friday that USD “could continue to rise,” we highlighted that “negative divergence is forming, and a break above the major…
The RBI also maintained its gold holdings at 880.52 tonnes, though their valuation declined | Photo Credit: SHASHANK PARADE The Reserve Bank of India sold a net $8.94 billion in the foreign exchange market in April, data released on Monday showed, as it stepped in to support the rupee that had plunged to record lows amid the U.S.-Iran war.The RBI said in its monthly bulletin that it purchased $16.23 billion and sold $25.17 billion in April. In March, the central bank had sold a net $9.8 billion.The volume of the central bank’s gold holdings, meanwhile, was unchanged during May at…
The Reserve Bank of India sold a net $8.94 billion in the foreign exchange market in April, data released on Monday showed, as it stepped in to support the rupee that had plunged to record lows amid the U.S.-Iran war.The RBI said in its monthly bulletin that it purchased $16.23 billion and sold $25.17 billion in April. In March, the central bank had sold a net $9.8 billion.The volume of the central bank’s gold holdings, meanwhile, was unchanged during May at 880.52 metric tonnes, even as its value declined from $120.23 billion in late April to $112.6 billion last month,…
TD Securities strategists expect Canada’s May Consumer Price Index (CPI) to rise, with headline inflation projected at 3.1% year-on-year and 0.8% month-on-month, driven by higher energy prices and seasonal factors. Core goods and travel-related components are seen providing additional support, while CPI-trim and CPI-median are forecast to hold steady, keeping core inflation broadly aligned with Bank of Canada projections.Headline and core inflation expectations”We look for headline CPI to firm by 0.3pp to 3.1% y/y in May as prices rise 0.8% m/m (market: 3.0%, 0.7%), fueled by another large increase for energy products and seasonal tailwinds.””Core goods should see a modest…
The rupee depreciated 34 paise to close at 94.67 (provisional) against the US dollar on Monday, weighed down by the strength of the American currency in the overseas market.Forex traders said the rupee witnessed volatility as steady debt and deposit inflows pulled the domestic currency in one way, while the lack of clarity on the Middle East peace deal and a firm dollar pulled it the other way.At the interbank foreign exchange market, the rupee opened at 94.42, registering a decline of 9 paise from its previous close. In intraday trade, the rupee traded in the range of 94.24 to…
Here is what you need to know on Monday, June 22:Investors cling to a cautious stance at the beginning of the week as they assess the latest headlines coming out of the Middle East. In the second half of the day, May Consumer Price Index (CPI) data from Canada will be watched closely by market participants. Additionally, several policymakers from major central banks will be delivering speeches. US Dollar Price Last 7 Days The table below shows the percentage change of US Dollar (USD) against listed major currencies last 7 days. US Dollar was the strongest against the New Zealand…
USD/CHF remains stronger for the fourth consecutive day, trading around 0.8080 during the Asian hours on Monday. The pair remains close to a nearly seven-month high of 0.8091, reached on June 19, as the US Dollar (USD) receives support from safe-haven demand, which could be attributed to renewed concerns over a US-Iran peace deal.CNBC reported on Sunday that US President Donald Trump threatened direct strikes on Iran if Hezbollah continues its attacks on Israel. This warning has severely clouded the outlook for diplomatic progress between Washington and Tehran, completely dismantling the current peace framework, even as Vice President JD Vance…
The dollar was firm on Monday as uncertainty clouded a tentative U.S.-Iran peace deal following threats from President Donald Trump to restart the war in the Middle East and Tehran’s announcement it had closed the Strait of Hormuz. Despite rising tensions, U.S.-Iran peace talks stretched into their second day in Switzerland under the terms of a memorandum of understanding reached last week to extend a ceasefire from April for at least another 60 days. Chris Weston, head of research at Pepperstone, said it was not surprising how quickly adherence to the terms of the deal had broken down. “Ultimately, what…