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EUR/GBP retreats on Wednesday after the latest United Kingdom (UK) budget revealed by Chancellor Rachel Reeves appears to be well received by investors, which initially sold off the British Pound (GBP), trimming its earlier losses. At the time of writing, the cross trades at 0.8766, down 0.24%.Sterling stabilizes as Reeves unveils tax-heavy budget with limited fiscal headroom, easing fears of major negativesThe UK’s budget raised taxes by £26 billion, following last year’s budget raised taxes by £40 billion. Reeves commented that the government would have £22 billion fiscal headroom to avoid unexpected shocks. Nevertheless, the Office for Budget Responsibility (OBR)…

The New Zealand Dollar (NZD) climbs after the RBNZ delivers a fully priced 25bps cut and signals an end to its easing cycle, setting the stage for potential NZD gains into 2026, BBH FX analysts report. RBNZ ends easing cycle, signals OCR steady until late 2026″NZD outperforms after the RBNZ delivers a hawkish cut. As was fully priced in, the RBNZ trimmed the Official Cash Rate (OCR) by 25bps to 2.25%. The Committee voted 5-1 in favor of a cut, with the dissenter preferring no change. The OCR is now at the lower-end of the RBNZ’s new estimated neutral range…

The rupee slipped 1 paisa to close at 89.23 (provisional) against the US dollar in a range-bound trade on Wednesday, as firm domestic equities and a slide in global crude prices offset the impact of a strengthening greenback.Foreign fund outflows and concerns over geopolitical developments sapped risk appetite in the market, pushing investors towards safe-haven assets, forex traders said.At the interbank foreign exchange market, the rupee opened at 89.24 and moved in a close range of 89.17-89.28 against the dollar. The unit finally settled at 89.23, registering a loss of 1 paisa from its previous closing level.Anuj Choudhary, Research Analyst,…

The Indian rupee closed marginally weaker on Wednesday, troubled by portfolio outflows and routine hedging demand from local importers, while intermittent dollar sales from state-run banks cushioned the currency’s fall.The rupee closed at 89.27 against the U.S. dollar, marginally weaker than its previous close of 89.22.Growing expectations of a December rate cut by the U.S. Federal Reserve helped boost global equities, with India’s benchmark equity indexes, the BSE Sensex and Nifty 50 , posting gains of more than 1% – the most in a day since June.However, the positive cues did little to help the rupee, with traders pointing to…

Here is what you need to know on Wednesday, November 26:The New Zealand Dollar (NZD) and the Australian Dollar (AUD) gather strength on Wednesday as markets react to the Reserve Bank of New Zealand’s (RBNZ) policy decisions and inflation data from Australia. In the second half of the day, September Durable Goods Orders and weekly Initial Jobless Claims data will be featured in the US economic calendar before markets take a break for Thanksgiving. 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…

The rupee pared initial losses and strengthened 2 paise to 89.20 against the US dollar in early trade on Wednesday tracking a weak greenback and firm domestic equity market sentiment. According to forex traders, some inflow of foreign capital into domestic stock markets also supported the Indian currency even though rising crude oil prices kept it under pressure. At the interbank foreign exchange market, the rupee opened at 89.24, lost to 89.26 and then regained to trade at 89.20 against the greenback in initial deals, up 2 paise from its previous closing level.The rupee settled 6 paise lower at 89.22…

Silver price (XAG/USD) extends its three-day recovery move to near $52.00 during the Asian trading session on Wednesday. The white metal strengthens as yields on interest-bearing assets have remained under pressure due to growing expectations that the Federal Reserve (Fed) could reduce interest rates again this year.At the time of writing, 10-year United States (US) Treasury yields trade flat around 4.00%, but have come down 3.4% in a week.Lower yields on interest-bearing assets bode well for non-yielding assets, such as Silver.According to the CME FedWatch tool, the probability of the Fed to cut interest rates by 25 basis points (bps)…

The Indian rupee at Wednesday’s open is unlikely to take advantage of the decline in the dollar, which was triggered by rising expectations of a US rate cut next month, with traders pointing to the currency’s inability to sustain the previous session’s brief rally.The 1-month non-deliverable forward indicated the rupee will open flat-to-slightly higher versus the US dollar. It settled at 89.22 on Tuesday.The rupee briefly strengthened past the 89 mark on Tuesday, only to be forced back by persistent dollar demand. Bankers said that dollar demand, largely from importers and in the offshore market, kicked in and blunted the…

The Reserve Bank of New Zealand (RBNZ) is expected to cut the Official Cash Rate (OCR) to 2.25% from 2.5%, following the conclusion of the November monetary policy meeting on Wednesday.The decision will be announced at 01:00 GMT, accompanied by the Monetary Policy Statement (MPS) and followed by RBNZ Governor Christian Hawkesby’s press conference at 02:00 GMT.The New Zealand Dollar (NZD) will likely experience a big reaction to the central bank’s policy announcements.  What to expect from the RBNZ interest rate decision?       Following a standard 25-basis-point (bps) rate cut in August and a surprise 50-bps move in October, the RBNZ is expected…

Gold (XAU/USD) holds firm on Tuesday as traders price a greater likelihood of a Federal Reserve (Fed) interest rate cut in December following dovish-leaning remarks from policymakers. At the time of writing, XAU/USD is little changed around $4,130, after climbing to an over one-week high during the Asian session.The latest leg higher in Gold was primarily driven by mounting rate-cut expectations, and the delayed US data released on Tuesday added to those expectations. Elsewhere, markets are also keeping an eye on developments surrounding the ongoing Russia-Ukraine peace talks aimed at ending the conflict. With geopolitical risks still in play and…