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Mumbai: In a move aimed at bringing the offshore rupee activity within its regulatory radar, the Reserve Bank of India (RBI) Monday directed authorised bank dealers to report over-the-counter FX derivative contracts involving the rupee.The reporting will cover both deliverable and non-deliverable contracts. A staggered rollout of the directions will begin from July 2027 and full compliance is required by July 2028.The final guidelines come in the backdrop of the central bank clamping down on speculative trades on the offshore dollar/rupee market, leading to swings in the domestic market, too. Late March, the central bank had directed banks to restrict…

US Treasury Secretary Scott Bessent warned that the United States (US)  will place sanctions on anyone conducting business with sanctioned Iranian airlines as commercial flights resume from Tehran, the Wall Street Journal reported on Monday.Key quotes Treasury will impose maximum pressure on Iran. Working with Iranian airlines risks sanctions.  Discussed risks from overcapacity production with the EU.Market reactionAt the time of writing, the West Texas Intermediate (WTI) is up 1.35% on the day at $94.65. WTI Oil FAQs WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including…

Silver (XAG/USD) declines and is trading around $74.90 on Monday, down 1.06% on the day. The white metal struggles to find a clear direction in an environment marked by investor caution.Markets remain focused on geopolitical developments in the Middle East, particularly around negotiations between the United States (US) and Iran. According to Axios, Tehran has reportedly proposed a new initiative aimed at ending hostilities and reopening the Strait of Hormuz, a key route for global Oil transport. This prospect supports some optimism, although the lack of concrete progress and the suspension of talks continue to fuel uncertainty.At the same time,…

The Indian rupee ended nearly flat at 94.15 against the US dollar, gaining just one paisa on Monday, as global uncertainties, rising crude oil prices, and West Asia tensions weighed on sentiment The rupee settled on a flat note, registering gains of just one paisa to close at 94.15 (provisional) against the US dollar on Monday, as rising global uncertainty, escalating tensions in West Asia and soaring crude oil prices weighed on investor sentiments.Forex traders said the INR/USD pair pared its initial losses, but the overall bias remains negative as FII sell-off and elevated crude oil prices restricted the gains…

Societe Generale’s Kenneth Broux and colleagues note that EUR/GBP has formed a lower high near 0.8740 and is struggling above its 200‑day moving average, with price action resembling a Head and Shoulders pattern. They highlight 0.8610 as key support, with potential downside projections to 0.8560/0.8535 and 0.8475, while a move above 0.8740 would negate the bearish setup.Head and Shoulders points to weakness”EUR/GBP carved out a lower high near 0.8740 earlier in April and has struggled to maintain above the 200‑DMA.””Price action has shaped a pattern resembling a Head and Shoulders, which signals potential downside.””The neckline around 0.8610 is a key…

Dow Jones futures falls 0.16%, trading near 49,300 during the European hours on Monday, ahead of the United States (US) regular opening. Meanwhile, S&P 500 and Nasdaq 100 futures decline 0.10% and 0.06% to near 7,190 and 27,420, respectively.US stock futures lose ground as risk aversion increases on stalled US–Iran peace talks. US President Donald Trump called off that delegation to Pakistan to potentially discuss directly with Iran. Iranian President Masoud Pezeshkian stated that his nation won’t enter “imposed negotiations under threats or blockade.” However, Axios reported on Monday, citing a US official and two informed sources, that Iran has…

Silver price (XAG/USD) gains ground for the second successive day, trading around $76.00 per troy ounce during the Asian hours on Monday. The white metal inches higher on increased safe-haven demand amid stalled US–Iran peace talks.US President Donald Trump called off that delegation to Pakistan to potentially discuss directly with Iran. Trump on Saturday told Jared Kushner and Steve Witkoff to skip the trip to Pakistan, which is mediating talks, saying that Iran “offered a lot, but not enough.President Trump said, “If they want to talk, they can come to us, or they can call us. You know, there is…

MUMBAI: The Indian rupee is poised to weaken further on Monday and through the coming week, after holding within a relatively stronger 92.50–93.50 range over the past fortnight.Persistent dollar demand, a swelling oil import bill and steady foreign portfolio outflows continue to weigh on the currency despite RBI’s efforts to curb speculative activity and limit market participation by oil companies.The rupee is expected to open with a gap on Monday at 94.40-94.50, weaker from its previous close of 94.25/$.“Over the past few days, we see RBI tolerating weaker levels. On Friday, it intervened at 94.30/$; before that we saw intervention…

Iran’s Foreign Minister Abbas Araghchi held talks in ‌Oman on Sunday and discussed security in the Strait of Hormuz and broader Gulf waters and diplomatic efforts to end the Iran-US conflict, Reuters reported on Sunday.Araghchi said that the US military presence in the Middle East was fuelling insecurity and division and called for a regional security framework free of outside interference.Iran’s Foreign Minister further stated that regional countries must form collective security without US intervention.Market reactionAt the time of writing, the West Texas Intermediate (WTI) is up 1.25% on the day at $94.30. Brent Crude Oil FAQs Brent Crude Oil…

OCBC strategists Sim Moh Siong and Christopher Wong flag slight upside risks for USD/SGD as the Hormuz standoff weighs on risk appetite and imported cost pressures. While Singapore Dollar (SGD) remains a regional defensive currency, they note fading bearish momentum and rising RSI on USD/SGD, alongside expectations that Singapore inflation will accelerate toward 2% as energy-related costs from the Middle East conflict pass through supply chains.Defensive SGD faces inflation pressures”Slight upward risk. USD/SGD inched higher overnight tracking the broad USD rebound.””Pair was last at 1.2780 levels. Bearish momentum on daily chart faded while RSI rose.””Risks somewhat skewed to the upside…