Author: admin

USD/CHF trades around 0.8070 on Friday, up 0.10% on the day at the time of writing, as the US Dollar (USD) finds moderate support from mixed but generally resilient US data releases. While the pair advances, markets continue to price a higher likelihood of policy easing from the Federal Reserve (Fed) in the coming months.The S&P Global Composite Purchasing Managers Index (PMI) rose slightly to 54.8 in November from 54.6, signalling continued growth in private-sector activity. The Services PMI improved to 55, while the Manufacturing PMI slid to 51.9, suggesting softer but still positive momentum in the goods sector. The…

Intraday, the Rupee saw a huge 107 paise movement, with the high/low being 88.60/ 89.67 The Rupee on Friday saw its biggest single day drop in recent times, breaching the 89 to the Dollar mark to close at an all time low. The Indian currency (INR) was weighed down by worsening trade deficit, lack of visibility on progress in talks on US’ steep import tariffs on Indian goods, aggressive short-covering getting triggered after INR breached the 88.80 level, and the Dollar gaining strength on expectations the US Fed may not cut interest rate at its December meeting. The Indian currency…

The Canadian Dollar (CAD) holds steady against the US Dollar (USD) on Friday, with USD/CAD hovering near 1.4100 as the Greenback stages a rebound after briefly losing momentum on dovish comments from New York Federal Reserve (Fed) President John Williams.Fed Williams said he still sees room for a near-term rate cut, acknowledging that progress on inflation has stalled even though he expects price growth to return to the 2% target by 2027. He noted that economic activity has cooled and the labour market continues to ease gradually, with downside risks to employment becoming more pronounced. Williams added that recent tariff…

Forex reserves jumped $5.543 billion to $692.576 billion during the week ended November 14 due to a steep increase in the value of gold reserves, the RBI said on Friday.The overall reserves had dropped by $2.699 billion to $687.034 billion in the previous reporting week.For the week ended November 14, foreign currency assets, a major component of the reserves, increased by $152 million to $562.29 billion, the data released on Friday showed.Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange…

Gold (XAU/USD) trades on the back foot on Friday, weighed down by fading hopes of a December interest rate cut from the Federal Reserve (Fed). At the time of writing, XAU/USD is trading around $4,035, down nearly 1.0% on the day, as the metal continues to oscillate within the range established earlier this week.Markets had already been dialing back expectations for a December rate cut, with most Fed officials striking a noticeably cautious tone in recent weeks. Policymakers have repeatedly warned that inflation remains sticky and that the labour market, while cooling, is still resilient enough to justify a more…

The rupee saw the steepest single-day fall in over three months breaching 89-a-dollar-mark for the first time and closed the session 93 paise lower at 89.61 (provisional) against the greenback on Friday, amid negative cues from domestic as well as global equity markets triggered by trade-related uncertainties.Forex analysts attributed the sharp fall in Indian currency to the massive selling of global IT stocks amid risk-off sentiment and the lack of clarity over the proposed India-US trade deal.At the interbank foreign exchange market, the rupee opened at 88.67 and plunged to hit its lowest-ever intra-day level of 89.65 before ending the…

USD/CAD edges lower after two days of gains, trading around 1.4090 during the early European hours on Friday. The daily chart’s technical setup reflects a persistent bullish bias, with the pair remaining within its ascending channel pattern. The 14-day Relative Strength Index (RSI) at 59.33 stays above the 50 midline, pointing to firm but measured bullish bias.The short-term momentum maintains an upside bias as the USD/CAD pair is positioned above the nine-day Exponential Moving Average (EMA). The nine-day average has turned higher again, keeping near-term pullbacks shallow. The nine-day EMA stands above the 50-day, reinforcing a bullish setup as long…

The rupee pared initial losses and showed a slight recovery of 5 paise trading at 88.63 against the US dollar in early trade on Friday on the back of lower crude oil prices overseas and foreign capital infusion in domestic stocks. The local currency, however, remained under pressure tracking a firm greenback and negative cues from domestic equity markets, forex traders said. At the interbank foreign exchange market, the rupee opened at 88.67 and gained some ground to trade at 88.63 against the US dollar in initial deals, up 5 paise from its previous closing level.On Thursday, the rupee depreciated…

The Australian Dollar (AUD) advances against the US Dollar (USD) on Friday after two days of losses. The AUD/USD pair gains ground following the preliminary reading of Australia’s S&P Global Purchasing Managers Index (PMI).S&P Global Manufacturing PMI came in at 51.6 in November versus 49.7 prior. Meanwhile, Services PMI rose to 52.7 in November from the previous reading of 52.5, while the Composite PMI increased to 52.6 in November versus 52.1 prior.The AUD finds support as expectations grow for a cautious stance from the Reserve Bank of Australia (RBA). Minutes from the RBA’s November meeting indicated the central bank may…

Japan’s National Consumer Price Index (CPI) rose by 3.0% YoY in October, compared to the previous reading of 2.9%, according to the latest data released by the Japan Statistics Bureau on Friday.Further details unveil that the National CPI ex Fresh food arrived at 3.0% YoY in October versus 2.9% prior. The figure came in line with the market consensus.CPI ex Fresh Food, Energy rose 3.1% YoY in October, compared to the previous reading of 3.0%.Market reaction to Japan’s National CPI dataFollowing Japan’s CPI inflation data, the USD/JPY pair is down 0.09% on the day at 157.44.  Inflation FAQs Inflation measures the rise in the price of…