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The rupee fell 15 paise to 89.90 against the US dollar in early trade on Wednesday, weighed down by foreign fund outflows and a muted opening in the domestic equity markets. Forex traders said foreign portfolio investors continue to offload Indian equities, which has been weighing on the Indian rupee in the last few months. At the interbank foreign exchange, the local unit opened at 89.89 against the dollar, then fell to 89.90, down 15 paise from its previous close.On Tuesday, the rupee rose 23 paise to close at 89.75 against the greenback. ” US-India trade uncertainties continue with FPIs…
Gold price (XAU/USD) extends the rally above $4,350 during the Asian trading hours on Wednesday. Gold’s price has surged about 65% this year and is set to record its biggest annual gains since 1979. The rally in the precious metal is bolstered by the prospect of further US interest rate cuts in 2026. Lower interest rates could reduce the opportunity cost of holding Gold, supporting the non-yielding precious metal.Furthermore, the persistent Israel-Iran conflict and the ongoing US-Venezuela tensions could boost the yellow metal. It’s worth noting that traders seek assets that can preserve value during periods of uncertainty, which supports a traditional…
USD/JPY remains caught in near-term congestion just north of the 156.00 handle during the final week of 2025’s trading year. Yen traders are battling headwinds on multiple fronts, with the Bank of Japan (BoJ) carrying much of the vexation risk for Yen markets.The BoJ broke away from the pack as the only central bank raising interest rates heading into the end of the year after delivering another quarter-point interest rate hike on December 19. Further rate hikes. The current cash rate from the BoJ currently sits at a three-decade peak of 0.75%.Even with climbing Japanese interest rates, the world’s favorite…
AUD/USD trades around 0.6700 on Tuesday at the time of writing, up 0.10% on the day, as markets remain cautious ahead of the release of the Minutes from the December meeting of the Federal Open Market Committee (FOMC), due later in the day. The pair benefits from moderate support to the Australian Dollar (AUD), driven by expectations that the Reserve Bank of Australia (RBA) could maintain a more restrictive bias for longer than other major central banks.Hawkish expectations surrounding the Australian central bank are underpinned by the still-uncertain inflation outlook. In its latest communication, the Reserve Bank of Australia reiterated…
The Pound Sterling (GBP) trades flat around 1.3500 against the US Dollar (USD) during the European trading session on Tuesday, close to an over three-month high of 1.3535 posted last week. The GBP/USD pair consolidates as the US Dollar wobbles ahead of the release of Federal Open Market Committee (FOMC) Minutes of the December meeting, which will be published in the late New York session.At the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades flat around 98.00.Investors await the FOMC minutes to get detailed cues on policymakers’ views on the monetary…
The Indian rupee gained against the U.S. dollar on Tuesday, snapping a three-day slide as index-rebalancing inflows and trimmed dollar longs lifted sentiment in thin year-end trade.The rupee ended 0.2% higher at 89.79 per dollar after opening at 89.9325. It stayed rangebound through the morning and had settled at 89.9750 on Monday.”The rupee experienced a significant appreciation post the RBI reference rate, as year-end obligations were met alongside rebalancing flows taking effect,” said Dilip Parmar, forex research analyst at HDFC Securities.”Still, the currency’s gains were underpinned by thin liquidity and a steady stream of dollar supply from banks.”Parmar expects the…
The rupee rose 14 paise to close at 89.84 (provisional) against the greenback on Tuesday primarily on account of dollar selling by the Reserve Bank. Strong industrial output numbers supported the local unit, but a stronger greenback, higher global crude oil prices, and foreign fund outflows prevented sharper gains, forex traders said. At the interbank foreign exchange, the rupee opened at 89.98 against the dollar and traded in the range of 89.72-89.98 during the day. The local unit eventually settled at 89.84 (provisional), up 14 paise from its previous close. The rupee depreciated 8 paise to close at 89.98 against…
Silver price (XAG/USD) gains more than 2% after registering a steep drop of more than 7% in the previous session, trading around $74.40 per troy ounce during the early European hours on Tuesday. Traders engaged in aggressive profit-taking after the XAG/USD pair hit a record high of $85.87 in the previous session.The technical analysis of the daily chart timeframe suggests the price of the precious metal moves upwards within an ascending channel pattern, strengthening the bullish bias. The 14-day Relative Strength Index (RSI) stands at 70.51 (overbought), signaling stretched momentum.The nine-day Exponential Moving Average (EMA) rises above the 50-day EMA,…
The rupee rose 3 paise to 89.95 against US dollar in early trade on Tuesday buoyed by a weaker greenback and strong IIP numbers. However, FII outflows, marginally higher crude oil prices, and a weaker opening in the domestic equity markets capped sharp gains in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 89.98 against the US dollar before rising to 89.95, up 3 paise from its previous close.The rupee depreciated 8 paise to close at 89.98 against the US dollar on Monday. “The RBI (on Monday) protected the top end of the…
Some of Asia’s strongest currency trends are starting to unravel in the final trading days of the year, with the South Korean won and the Thai baht leading the reversals.The embattled won, which was approaching a threshold last breached during the global financial crisis, has bounced back since the middle of last week, as authorities signaled their support for the currency. On the other end of the spectrum, the baht, the second-best performing Asian currency this year, is ceding ground on fears the central bank may push back against the rally, which threatens the nation’s exports. The won continued to advance…