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The rupee consolidated in a narrow range and settled for the day 3 paise lower at 90.64 (provisional) against the US dollar on Friday, tracking the strength of the American currency in the overseas market and a negative trend in domestic equities. Forex traders said the rupee traded in a narrow range with a weakening bias as a firm dollar limited the upside for emerging market currencies, including the rupee.At the interbank foreign exchange market, the rupee opened at 90.69 against the US dollar, and touched an intraday high of 90.60 and a low of 90.79 during the day..At the…
The Indian rupee was little changed on Friday as pressure from weak local stocks and elevated interbank dollar demand met likely central bank intervention to defend the currency, traders said.The rupee closed at 90.6350 per dollar, down marginally from its close at 90.59 in the previous session. The currency was little changed week-on-week.Maturity of positions in the non-deliverable forwards market added to the strain on the rupee on Friday, alongside a risk-off mood in global equities weighed by lingering concerns over the impact of artificial intelligence and shrinking tech sector margins.MSCI’s broadest index of Asia-Pacific shares fell more than 1%…
Danske Research Team expects the second estimate of Euro area Q4 2025 GDP to confirm modest employment growth. National data show strong job gains in Spain but slight declines in France and Germany, leading the bank to project Euro area employment up 0.1% quarter-on-quarter. They see continued job growth as positive but indicative of a cooling labour market.Employment growth slows as economy cools”In the euro area, the second estimate of GDP growth in 2025Q4 will also reveal how much employment changed in the final quarter of last year.””National data show that employment rose sharply in Spain while declined marginally in…
The rupee depreciated 8 paise to 90.69 against the US dollar in early trade on Friday, pressured by the strengthening of the American currency and a negative trend in domestic equities. Forex traders said a firm dollar limited the upside for emerging-market currencies including the rupee. At the interbank foreign exchange market, the rupee opened at 90.69 against the US dollar, registering a fall of 8 paise over its previous close. On Thursday, the rupee appreciated 17 paise to settle at 90.61 against the US dollar. The American currency strengthened on reports that Russia may consider returning to the dollar…
Japan’s Finance Minister Satsuki Katayama said on Friday that markets have stabilized after the initial shock from plans to cut consumption tax on food. Katayama further stated that the debt-to-gross domestic product ratio is expected to drop further. Key quotesFinancial Services Agency to support brokerage firms test launch of using blockchain for securities trading.Markets have stabilized after initial shock from plans to cut consumption tax on food. The Debt-to-Gross Domestic Product ratio is expected to drop further. Believe that overseas financial chiefs have understood our policy. Previous budgets have not considered rising prices and labor costs, when asked about Takaichi’s comments on excessive austerity in the past. Market…
The yen was set for its best week in almost 15 months on Friday, having climbed steadily after Japanese Prime Minister Sanae Takaichi’s historic election win allayed investor worries about the nation’s fiscal health.A resurgent yen has been the main focus for the foreign exchange market this week, particularly as its rise confounded initial expectations that a selloff in the currency could gather pace if Takaichi secured a strong mandate.It was last steady at 152.86 per dollar, but was set to gain nearly 3% for the week, which would mark its largest advance since November 2024.Against the euro, the yen…
The EUR/USD pair trades on a flat note near 1.1870 during the early Asian session on Friday. The major pair steadies amid mixed signals from the latest release of US economic indicators. Traders await the preliminary reading of the Eurozone Gross Domestic Product (GDP) for the fourth quarter (Q4) and US inflation data, which are published later on Friday. Earlier this week, data showed that US Retail Sales were unexpectedly unchanged in December, indicating underlying weakness. The reading followed an unrevised 0.6% increase in November, worse than the expectation of 0.4%. However, the US Nonfarm Payrolls (NFP) data came in…
Silver (XAG/USD) trades lower on Thursday, hovering around $82.85 at the time of writing, down 1.95% on the day. The white metal is correcting after posting a weekly high at $86.30, while the immediate bullish structure remains intact despite the current pullback.The recovery that started from last week’s lows near $64.00 is pausing following the latest US labor market report. Data released by the Bureau of Labor Statistics (BLS) show that Nonfarm Payrolls (NFP) increased by 130K in January, above expectations of 70K, while the Unemployment Rate edged down to 4.3%. These figures ease concerns about a sharp slowdown in…
TD Securities analysts note that UK GDP for December matched expectations at 0.1% month-on-month, but downward revisions to November left Q4 growth at 0.1% quarter-on-quarter, below consensus and Bank of England projections. The bank notes narrow sectoral strength and a sluggish broader economy, suggesting this could influence marginal MPC voters toward a potential rate cut in March.Soft data may sway MPC doves”Index of Services had a very similar story, being above expectations in December at 0.3% m/m, but flat and disappointing on a 3m/3m basis. Furthermore, December’s strength was idiosyncratic to the transport, administrative, and wholesale trade sectors, which doesn’t…
The rupee appreciated 17 paise to settle for the day at 90.61 (provisional) against the US dollar on Thursday, as foreign fund investments lifted investor sentiments.Forex traders said foreign fund inflows, while not massive, provided a psychological anchor. Moreover, the RBI has been quietly ensuring that liquidity remains abundant in the banking system, they said.At the interbank foreign exchange market, the rupee opened at 90.55 against the US dollar, and touched an intraday high of 90.40 and a low of 90.65 during the day.At the end of the trading session on Thursday, the domestic unit was quoted at 90.61 (provisional),…