Author: admin

Silver (XAG/USD) trades around $72.05 on Wednesday at the time of writing, up 0.70% on the day. The white metal extends its bullish momentum for a fourth straight day and reached a fresh all-time high at $72.71 earlier in the day, highlighting sustained investor appetite for precious metals.Expectations of an accommodative monetary policy from the Federal Reserve (Fed) remain a key driver. According to the CME FedWatch tool, markets see more than a 70% chance of cumulative interest rate cuts of at least 50 basis points by 2026. These expectations contrast with the Fed’s official projections, as the latest dot…

West Texas Intermediate (WTI) Crude Oil trades little changed on Wednesday as markets slip into holiday mode, with prices hovering near two-week highs amid thin liquidity. The US benchmark remains underpinned by rising tensions between the United States and Venezuela, which have added a modest geopolitical risk premium. At the time of writing, WTI is trading around $58.33 per barrel, pausing after a three-day advance.From a technical perspective, the daily chart points to a modest recovery in WTI, with prices reclaiming the 21-day Simple Moving Average (SMA) near $58.04. Buyers re-emerged last week after prices revisited the psychological $55 level,…

There were 214,000 Initial Jobless Claims in the week ending December 20, a decrease of 10,000 from the previous week’s unrevised level, the US Department of Labor (DOL) reported on Wednesday. This reading came in better than the market expectation of 223,000.In this period, the 4-week moving average declined by 750 to 216,750.”The advance number for seasonally adjusted insured unemployment during the week ending December 13 was 1,923,000, an increase of 38,000 from the previous week’s revised level,” the DOL noted in its press release.Market reactionThe US Dollar Index showed no immediate reaction to this report and was last seen…

The British Pound (GBP) trades slightly lower against the Japanese Yen (JPY) on Wednesday, though thin holiday trading conditions are keeping price action contained within a tight range. At the time of writing, GBP/JPY trades around 210.60, holding firm near year-to-date highs and its highest level since August 2008.The Japanese Yen has remained broadly weak this year, as fiscal concerns under the new leadership of Sanae Takaichi and a gradual pace of monetary policy normalisation continued to weigh on the currency. Against this backdrop, GBP/JPY is up around 6.9% year to date, reflecting persistent policy divergence between the UK and…

EUR/GBP trades in negative territory around 0.8725 on Wednesday at the time of writing, extending a sequence of declines that began earlier in the week. The pair remains under pressure as the Pound Sterling (GBP) benefits from the Bank of England’s (BoE) relatively hawkish communication. At the same time, the Euro (EUR) limits the downside from the perception that the European Central Bank’s (ECB) easing cycle is approaching its end.The Pound Sterling appreciates after the BoE delivered a widely expected 25-basis-point cut to its benchmark interest rate, bringing it to 3.75% at its latest meeting. This marks the first reduction…

The Pound Sterling (GBP) revisits the three-month high around 1.3535 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair trades firmly as the Greenback underperforms, with unexpectedly stronger flash United States (US) Q3 Gross Domestic Product (GDP) data failing to diminish Federal Reserve (Fed) dovish expectations.During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, posts a fresh 11-week low near 97.75.The US Bureau of Economic Analysis (BEA) reported on Tuesday that the economy grew by 4.3% compared to the same quarter of the previous year,…

The USD/CHF pair extends its losing streak for the third trading day on Wednesday. The Swiss Franc pair posts a fresh three-month low at 0.7860 during the European trading session as the US Dollar (USD) continues to underperform its peers despite surprisingly upbeat United States (US) Q3 Gross Domestic Product (GDP) data. US Dollar Price This week The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the weakest against the New Zealand Dollar. USDEURGBPJPYCADAUDNZDCHFUSD-0.63%-0.93%-1.12%-0.88%-1.51%-1.75%-0.99%EUR0.63%-0.30%-0.51%-0.26%-0.89%-1.12%-0.36%GBP0.93%0.30%-0.13%0.04%-0.60%-0.83%-0.06%JPY1.12%0.51%0.13%0.28%-0.34%-0.58%0.05%CAD0.88%0.26%-0.04%-0.28%-0.55%-0.87%-0.10%AUD1.51%0.89%0.60%0.34%0.55%0.06%0.54%NZD1.75%1.12%0.83%0.58%0.87%-0.06%0.78%CHF0.99%0.36%0.06%-0.05%0.10%-0.54%-0.78% The heat map shows percentage changes of major currencies against each other. The base currency…

The USD/JPY pair trades 0.23% lower to near 155.80 during the European trading session on Wednesday. The pair extends its losing streak for the third trading day on Wednesday, which started after failing to gain further above an almost 11-month high near 158.00. Japanese Yen Price This week The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the US Dollar. USDEURGBPJPYCADAUDNZDCHFUSD-0.66%-0.95%-1.11%-0.88%-1.51%-1.75%-0.95%EUR0.66%-0.29%-0.51%-0.23%-0.87%-1.11%-0.31%GBP0.95%0.29%-0.11%0.06%-0.58%-0.81%-0.01%JPY1.11%0.51%0.11%0.28%-0.35%-0.59%0.07%CAD0.88%0.23%-0.06%-0.28%-0.56%-0.87%-0.07%AUD1.51%0.87%0.58%0.35%0.56%0.05%0.57%NZD1.75%1.11%0.81%0.59%0.87%-0.05%0.82%CHF0.95%0.31%0.00%-0.07%0.07%-0.57%-0.82% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency…

The Indian rupee closed modestly ‍weaker on Wednesday as dollar demand from local corporates and on account of maturing ⁠positions in the non-deliverable forward (NDF) market blunted positive cues from gains in most regional peers.The rupee ended at 89.7850 per U.S. dollar, down about 0.1% on the day.Most Asian ‌currencies edged ‌higher but traders said local flow dynamics continued to dominate price action for the rupee, even though ‌it has bounced back from the record-low levels hit last week.The maturity of positions in the NDF market also spurred dollar-buy bids at the daily reference rate, a trader at a Mumbai-based…

The rupee pared initial gains and settled for the day lower by 16 paise at 89.79 (provisional) against the US dollar on Wednesday, fuelled by persistent capital withdrawals from foreign investors, alongside heightened greenback demand from bullion importers. Forex traders said that despite the central bank’s announcement of USDINR swaps and Open Market Operations (OMO), the measures failed to boost market sentiments, amid strong dollar demand and rising crude oil prices. At the interbank foreign exchange, the rupee opened at 89.56 against the US dollar, then touched an intra-day high of 89.51, registering a 12-paise gain from its previous close.…