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The Japanese Yen (JPY) reverses a modest Asian session dip against its American counterpart, though it lacks follow-through as bulls seem reluctant amid mixed fundamental cues. Investors remain worried about Japan’s deteriorating fiscal condition on the back of the government’s massive economic package, which led to the recent spike in the Japanese government bond (JGB) yields. Apart from this, the prevalent risk-on mood, bolstered by the prospects for lower US interest rates and hopes for a Russia-Ukraine peace deal, continues to undermine the safe-haven JPY.Meanwhile, cautious signals from Bank of Japan (BoJ) policymakers indicate that rate normalization will be gradual,…

EUR/USD is flat on Thursday amid thin trading liquidity conditions as US markets are closed for Thanksgiving. Still expectations that the Federal Reserve might reduce borrowing costs keep the Greenback pressured, with the Euro poised to end the week with gains. The pair trades at 1.1596.Euro steadies in quiet Thanksgiving session, supported by rising expectations of a December Fed rate cutWith no major US economic events on Thursday, recent inflation figures, weaker retail sales, and declining consumer confidence are increasing pressure on the Fed. According to the CME FedWatch Tool, there is an 85% chance of a 25-basis point rate…

EUR/JPY trades around 181.25 on Thursday at the time of writing, as the market digests a mild boost for the Euro (EUR) from the latest European Central Bank (ECB) Accounts alongside a still-challenging backdrop for the Japanese Yen (JPY).The ECB Accounts revealed unanimous agreement within the Governing Council to leave all three key interest rates unchanged in October, with policymakers describing the current monetary stance as “in a good place”.The minutes confirmed that inflation is gradually converging toward the 2% target, while domestic demand and labour-market conditions remain resilient. However, the discussion also highlighted “two-sided” risks to inflation. Some members…

AUD/USD trades around 0.6525 on Thursday at the time of writing, up 0.12% on the day. The Australian Dollar (AUD) continues to appreciate against the US Dollar (USD), supported by a market environment where expectations of monetary easing by the Federal Reserve (Fed) are intensifying.The Aussie finds initial support from the release of private capital expenditure for the third quarter by the Australian Bureau of Statistics (ABS), which showed a strong 6.4% QoQ increase, far exceeding expectations. In addition, the first full monthly Consumer Price Index (CPI) reading showed inflation rising 3.8% YoY in October, beating forecasts and reinforcing the…

The rupee depreciated 8 paise to settle at 89.30 (provisional) against the US dollar on Thursday amid a firm greenback due to its higher demand from importers and banks. The Indian currency, however, found support from foreign capital infusion into domestic stock markets and lower crude oil prices in the international market, forex experts said. At the interbank foreign exchange market, the rupee opened at 89.19 and touched the intra-day low of 89.40 against the greenback. The unit closed the session at 89.30 (provisional) against the dollar, registering a loss of 8 paise from the previous closing level. The rupee…

Here is what you need to know on Thursday, November 27:The trading action turns subdued in financial markets on Thursday, with volumes thinning out amid the Thanksgiving Day holiday in the United States (US). The European economic calendar will feature business and consumer sentiment data, and the European Central Bank (ECB) will publish the accounts of the October policy meeting. 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-0.61%-0.98%-0.20%-0.46%-1.04%-1.80%-0.48%EUR0.61%-0.37%0.42%0.16%-0.44%-1.20%0.14%GBP0.98%0.37%0.79%0.53%-0.06%-0.83%0.51%JPY0.20%-0.42%-0.79%-0.26%-0.89%-1.74%-0.27%CAD0.46%-0.16%-0.53%0.26%-0.57%-1.36%-0.02%AUD1.04%0.44%0.06%0.89%0.57%-0.76%0.59%NZD1.80%1.20%0.83%1.74%1.36%0.76%1.35%CHF0.48%-0.14%-0.51%0.27%0.02%-0.59%-1.35% The heat map shows percentage changes of…

The rupee stayed weak trading 2 paise lower at 89.24 against the US dollar in early trade on Thursday due to increased demand of American currency from importers amid volatile global trade. According to forex traders, the rupee found support from fresh inflow of foreign capital into domestic stock markets and lower crude oil prices in the international market. At the interbank foreign exchange market, the rupee opened at 89.19 and lost further to trade at 89.24 against the greenback in initial deals, down 2 paise from its previous closing level. The rupee settled flat at 89.22 against the greenback…

Silver price (XAG/USD) declines after three days of gains, trading around $52.80 during the Asian hours on Thursday. However, the non-interest-bearing Silver may regain its ground amid rising odds of Federal Reserve (Fed) rate cut bets in December, given that lower interest rates reduce the opportunity cost of holding non-yielding assets.US data showed unexpectedly low Initial Jobless Claims and stronger-than-expected Durable Goods Orders, yet rate-cut expectations remained intact. The CME FedWatch Tool suggests that markets are now pricing in a more than 84% chance that the Fed will cut its benchmark overnight borrowing rate by 25 basis points (bps) at…

The Indian rupee is expected to open higher on Thursday, helped by a softer dollar on bets of a December Federal Reserve rate cut, though bankers cautioned that the currency has struggled to sustain any relief rallies.The 1-month non-deliverable forward indicated the rupee will open in the 89.14-89.18 range versus the US dollar. It had settled at 89.27 on Wednesday.Through this week, the rupee has struggled to translate supportive Asian cues into lasting traction. On two occasions, first on Monday and then again on Tuesday, the currency slipped into the 89–89.10 zone, sparking optimism of a recovery.However, bankers said there…

The EUR/USD registers back-to-back bullish days boosted by speculation that the Federal Reserve might cut rates at the December meeting, following the release of a strong jobs report. At the time of writing, the pair trades at 1.1595, up 0.22% after bouncing off daily lows of 1.1547.Euro extends gains for a second day as easing expectations stay elevated despite solid US data and mixed Fed commentaryEconomic data in the US continues to flow yet dovish comments by Fed officials are driving EUR/USD’s price action. The number of Americans filling for jobless insurance decreased compared to the November’s 14 print, reaffirmation…