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China’s yuan climbed on Monday to a fresh 14-month high against the dollar, as broad weakness in the U.S. currency overcame concerns over an economic slowdown in the Asian giant and a softer-than-expected official guidance fix. Higher seasonal corporate demand also lent support to the yuan as exporters usually convert a larger share of foreign exchange receipts for various payments and administrative requirements due towards the end of the year. In the spot market, the onshore yuan rose 0.05% to 7.0508 per dollar by 0323 GMT, its strongest since October 8, 2024. Its offshore counterpart fetched 7.0487 to the dollar,…

The Japanese Yen (JPY) sticks to its intraday gains through the early European session on Monday and seems poised to apprciate further amid hawkish Bank of Japan (BoJ) expectations. Against the backdrop of the recent shift in rhetoric from Bank of Japan (BoJ) Governor Kazuo Ueda, an improvement in business confidence reaffirms market bets for an imminent rate hike this week. Apart from this, a slight deterioration in the global risk sentiment turns out to be another factor underpinning the JPY’s safe-haven status.The aforementioned supporting factors, to a larger extent, offset concerns about Japan’s deteriorating fiscal condition on the back…

Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows. Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front. At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close. On Friday, the…

Gold price (XAU/USD) climbs to seven-week highs above $4,325 during the Asian trading hours on Monday. The precious metal extends its upside amid the prospect of interest rate cuts by the US Federal Reserve (Fed) next year. Lower interest rates could reduce the opportunity cost of holding Gold, supporting the non-yielding precious metal. Additionally, uncertainty and the risk-off sentiment could boost the safe-haven flows, benefiting the yellow metal price.Nonetheless, hawkish remarks from Fed officials last week could lift the US Dollar (USD) and weigh on the USD-denominated commodity price. Traders will take more cues from the speeches by Fed Governor Stephen Miran and…

China’s finance ministry said that the government planned to issue ultra-long-term special government bonds in 2026, with proceeds used to support key national strategies and security initiatives, Bloomberg reported on Saturday. The ministry said in a statement that funds will also be directed toward large-scale equipment upgrades and consumer goods trade-in programs. The announcement came after a meeting to implement decisions from the Central Economic Work Conference.Market reactionThe AUD/USD pair is losing 0.05% on the day, trading at 0.6650 at the time of writing. Australian Dollar FAQs One of the most significant factors for the Australian Dollar (AUD) is the level of…

India’s foreign exchange reserves rose marginally, by $1.033 billion in the week that ended December 5 to $687.260 billion, driven by a jump in gold reserves, the Reserve Bank of India’s latest ‘Weekly Statistical Supplement’ data showed. Over the past few weeks, the forex kitty has been largely in a downtrend, except for a few. Still, the country’s foreign exchange (forex) kitty is hovering close to its all-time high of $704.89 billion, reached in September 2024. For the reported week (that ended December 5), India’s foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at $556.880 billion,…

In an interview with the Wall Street Journal, the US President Donald Trump revealed that he is leaning on former Fed Governor Kevin Warsh and also on the National Economic Council Director Kevin Hassett to lead the Federal Reserve since May 2026.When asked if Kevin Warsh was at the top of the list Trump said “Yes, I think he is. I think you have Kevin and Kevin. They’re both—I think the two Kevins are great,” he said. “I think there are a couple of other people that are great.”The article mentioned that Warsh was grilled over a 45 minute meeting…

Silver prices plunges after hitting an all-time high (ATH) of $64.65 losses 2.75% as investors book profits ahead of the weekend, as Federal Reserve officials remain divided about future monetary policy meetings. At the time of writing, XAG/USD trades at $61.84.XAG/USD Price Forecast: Technical outlookThe grey metal remains upward biased but in the short-term could be headed for a retracement. Price action shows the formation of a ‘bearish engulfing’ candle chart pattern, an indication that sellers outweigh buyers. Nevertheless, there are signs of a potential negative divergence as the Relative Strength Index (RSI) it reaches a lower peak while the…

Gold (XAU/USD) advances modestly on Friday as traders seem to book profits ahead of the weekend, yet clings to gains of over 0.51% after reaching a seven-week high of $4,353. At the time of writing, XAU/USD trades at $4,302 as traders digest comments from Federal Reserve (Fed) officials.Bullion trims gains ahead of the weekend, but remains supported by Fed uncertainty, weak dataThe US economic docket was light, yet Federal Reserve officials crossed the wires. Two of the three dissenters expressed concerns about inflation remaining too high, specifically amid a period of scarce economic data, particularly the Consumer Price Index (CPI),…

The Dow Jones Industrial Average (DJIA) retreated from record intraday highs on Friday alongside its major index peers as investors continued rotating out of technology and into value-oriented sectors. The Dow briefly hit a new intraday record before pulling back 0.30%. Despite some deflation in the US tech space in the back half of the trading week, the Dow is on pace to finish the week on a high note, up 1.26% from Monday’s initial bids.The S&P 500 (SP500) fell 0.8%, and the Nasdaq also dropped 1.3%, weighed down by a sharp 10% decline in Broadcom (AVGO) following concerns about…