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The EUR/USD pair attracts some buyers to around 1.1730 during the early Asian session on Friday. The Euro (EUR) strengthens against the US Dollar (USD) after the European Central Bank (ECB) kept interest rates on hold at its April meeting. The ECB governing council opted to hold its benchmark deposit facility rate at 2% on Thursday despite a surge in inflation in the Eurozone since the war in Iran began. According to the statement, the central bank said the inflation outlook was largely unchanged: “The upside risks to inflation and the downside risks to growth have intensified.”The ECB stated that it…
USD/CAD trades on the back foot on Thursday as renewed weakness in the US Dollar (USD) supports the Canadian Dollar (CAD), while the latest US economic data fails to provide support to the Greenback. At the time of writing, the pair is trading around 1.3612, down nearly 0.53% on the day.The US Dollar is under pressure amid possible FX intervention by Japanese authorities to curb sustained weakness in the Japanese Yen (JPY). Reuters, citing Nikkei which quoted a government source, said Japan may have intervened by buying Yen and selling Dollars. However, there has been no official confirmation so far.The…
TD Securities reports the Bank of Canada (BoC) left rates at 2.25% with a cautious tone, highlighting trade uncertainty and a soft labour market while modestly upgrading 2026 growth. The team expects no policy changes through 2026 and two hikes in 2027. They see front-end Canadian rates as too cheap and forecast USD/CAD trading choppily around current levels in Q2.BoC on hold with conditional guidance”The Bank of Canada held rates unchanged at 2.25% in April.””The communique had a cautious tone, with the Bank downplaying positive growth impacts from higher energy prices and paying special attention to trade uncertainty and a…
The Indian rupee fell to a record low on Thursday, as investors fretted over the economic risks confronting India from a resurgence in crude oil prices to 2022 highs, threatening the inflation-economic growth balance for the net energy importer and sapping capital flows.The currency fell to 95.3250, down 0.5% on the day, eclipsing its previous all-time low of 95.21 hit in late March.Oil-sensitive Asian peers such as the Indonesian rupiah, Phillippine peso and Thai baht also weakened on Thursday, after Brent crude oil futures climbed to $126 per barrel, the highest in four years.The rupee’s fall has wiped out gains…
The Indian rupee fell to a record low on Thursday, as investors fretted over the economic risks confronting India from a resurgence in crude oil prices to 2022 highs, threatening the inflation-economic growth balance for the net energy importer and sapping capital flows.The currency fell to 95.33 per dollar, down as much as 0.5% on the day, eclipsing its previous all-time low of 95.21 hit in late March. It subsequently pared losses to end at 94.91, only marginally weaker compared to the previous session.Oil-sensitive Asian peers such as the Indonesian rupiah also weakened on Thursday, after Brent crude futures climbed…
The Indian rupee plunged to a record low of Rs 95.33 on Thursday as investors grew increasingly concerned about the economic risks posed by a sharp surge in crude oil prices to 2022 highs. The surge in oil to $125 and above levels has raised fears over India’s inflation-growth balance, given its dependence on energy imports, while also weighing on capital flows.The rupee weakened to 95.33 per dollar, falling as much as 0.5% during the session and surpassing its previous record low of 95.21 touched in late March. The recent decline has erased gains driven by the central bank’s currency-supportive…
West Texas Intermediate (WTI), futures on NYMEX, gives up its early gains after posting a fresh over seven-week high at around $107.35 and flattens to near $104.85 during the European trading session on Thursday.The Oil price is broadly upbeat as United States (US) President Donald Trump has warned of a prolonged blockade on Iranian sea ports after rejecting Iran’s proposal, which consisted of the reopening of the Strait of Hormuz, a vital passage to almost 20% global energy supply, Bloomberg reported. Trump added that the naval blockade of Iran will continue until Washington secures a deal with Tehran to address…
The Indian rupee fell to a record low on Thursday, as investors fretted over the economic risks confronting India from a resurgence in crude oil prices to 2022 highs, threatening the inflation-economic growth balance for the net energy importer and sapping capital flows.The currency fell to 95.3250, down 0.5% on the day, eclipsing its previous all-time low of 95.21 hit in late March.Oil-sensitive Asian peers such as the Indonesian rupiah, Phillippine peso and Thai baht also weakened on Thursday, after Brent crude oil futures climbed to $126 per barrel, the highest in four years.The rupee’s fall has wiped out gains…
The rupee and Government Securities felt the impact of the US Fed’s decision to keep interest rates unchanged, with the former breaching the 95 to the US dollar mark for the first time since March 30, 2026, and the yield of the latter hardening about 6 basis points.The rupee (INR) opened almost 17 paise weaker at 95.01 per US dollar and is currently trading at an all-time low of 95.2475.In a note on the US Fed holding its policy rate unchanged at 3.5-3.75 per cent, Emkay Global Financial Services Ltd’s Chief Economist Madhavi Arora and Research Associate Harshal Patel said:…
The AUD/USD pair gains some positive traction during the Asian session on Thursday and recovers a part of the previous day’s heavy losses to the 0.7100 mark, or a two-week low.Expectations that the Reserve Bank of Australia (RBA) will stick to its hawkish stance counter China’s mixed official PMIs and turn out to be a key factor offering some support to the Australian Dollar (AUD). The US Dollar (USD), on the other hand, sticks to its positive tone near the highest level since April 13 on the back of persistent geopolitical uncertainties stemming from stalled US-Iran peace talks. Furthermore, diminishing…