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The Indian rupee ended flat on Tuesday as modest portfolio inflows and intermittent dollar sales from state-run banks helped cushion the impact from weak global equities and regional currencies.The rupee closed at 88.6050 against the U.S. dollar, nearly unchanged from its close at 88.63 in the previous session.Asian currencies were down between 0.1% and 0.4% while MSCI’s gauge of regional stocks fell over 2%, tracking an extended selloff on Wall Street overnight as investors turned cautious ahead of a key earnings report and a deluge of U.S. economic data.Futures indicated that U.S. stocks were set to open modestly lower.India’s benchmark…

USD/CAD remains stable after registering modest gains in the previous session, trading around 1.4050 during the European hours on Tuesday. The daily chart’s technical setup reflects a persisting bullish bias, with the pair continuing to trade within its ascending channel.The 14-day Relative Strength Index (RSI) remains above the 50 mark, supporting a bullish bias. However, short-term momentum turned stronger as the USD/CAD pair moved above the nine-day Exponential Moving Average (EMA).The USD/CAD pair may explore the region around the seven-month high of 1.4140, reached on November 5. Further advances above this level would support the pair to test the upper…

The rupee weakened 8 paise to 88.67 against the US dollar in early trade on Tuesday as equity market faced selling pressure amid global trade related uncertainties. A weak American currency, lower crude oil prices and some inflow of foreign capital into domestic stocks failed to support the Indian currency, forex analysts said. They said investors are concerned about increasing import bills and widening trade deficit of the country. Also, traders were keenly watching the progress on the proposed India-US trade deal as well as the domestic PMI data to be released later this week.At the interbank foreign exchange market,…

The Japanese Yen (JPY) recovers slightly from the lowest level since early February, touched against its American counterpart during the Asian session on Tuesday, though any meaningful appreciation seems elusive. The recent fall in the JPY prompted some verbal intervention from Japan’s Finance Minister Satsuki Katayama. This, along with the prevalent risk-off mood, holds back traders from placing aggressive bearish bets around the safe-haven JPY. Apart from this, the lack of follow-through US Dollar (USD) buying contributes to capping the USD/JPY pair.Meanwhile, reports that Japan’s Prime Minister Sanae Takaichi plans tax cuts to boost consumption add to concerns about the…

Federal Reserve (Fed) Governor Christopher Waller said that the US central bank should cut the interest rates when policymakers meet in December, Bloomberg reported late Monday. Waller added that he’s grown concerned over the labor market and the sharp slowdown in hiring.Makes case for continuing interest rate cuts.Supports a quarter-percentage-point rate cut at Fed’s December 9-10 meeting. Will provide additional insurance on labor market. Worries restrictive monetary policy is weighing on economy. US labor market weak, near stall speed. Underlying us inflation is close to 2% target. Inflation expectations are well-anchored. Tariffs are one-time price level shocks; doesn’t see any factors that would cause acceleration in inflation. Us gdp growth…

EUR/CAD trades lower on Monday around 1.6250 at the time of writing, down 0.30% on the day, after Canada published a set of mixed inflation data for October. Market reaction remains contained, as headline inflation continues to cool while underlying price pressures remain firm, complicating the prospect of further interest rate cuts by the Bank of Canada (BoC).In Canada, annual Consumer Price Index (CPI) inflation slowed to 2.2%, slightly above the 2.1% expected but down from 2.4% in September. On a monthly basis, CPI rose 0.2%, matching expectations. Disinflation was driven primarily by a 9.4% drop in gasoline prices and…

The Reserve Bank of India’s new export relief package — including extending the export realisation period to 15 months — may pressure the rupee as exporters could delay bringing back foreign earnings, bankers said. | Photo Credit: iStockphoto The Reserve Bank of India’s latest export relief steps may pressure the rupee, with several bankers noting that the added flexibility could prompt exporters to delay bringing back foreign earnings, weighing on near-term dollar supply. The RBI on Friday announced a package of relief measures to help exporters cope with the pressure from U.S. tariffs, including extending the export realisation window to…

New Zealand Dollar (NZD) is likely to trade in a range between 0.5650 and 0.5690. In the longer run, no change in view; NZD is likely to trade in a range between 0.5605 and 0.5695, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. NZD is likely to trade in a range24-HOUR VIEW: “Last Friday, we expected NZD to ‘range-trade between 0.5630 and 0.5680’. The subsequent price movements did not turn out as expected. NZD rose to a high of 0.5691 before settling at 0.5680 (+0.47%). Despite rising to a high of 0.5691, there is no clear increase…

Mumbai, The rupee pared intraday losses to settle 3 paise higher at 88.63 (provisional) against the US dollar on Monday, tracking firm domestic equity markets and lower global crude oil prices.However, a strong greenback against major currencies overseas and foreign fund outflows weighed on the domestic unit, according to forex traders.At the interbank foreign exchange market, the rupee opened at 88.70 and hit the intra-day high of 88.56 and the low of 88.73 against the dollar.The unit finally settled at 88.63 (provisional) against the dollar, registering a gain of 3 paise from its previous closing level.On Friday, the rupee settled…

USD/CAD moves little after registering modest losses in the previous session, trading around 1.4020 during the European hours on Monday. The daily chart’s technical setup reflects a sustained bullish bias, with the pair continuing to trade within its ascending channel.The 14-day Relative Strength Index (RSI) holds just above the 50 mark, supporting a mild bullish bias. However, short-term momentum appears soft as the USD/CAD pair trades below the nine-day Exponential Moving Average (EMA).The USD/CAD pair is testing its immediate barrier at the nine-day EMA of 1.4027. A break above this level would improve the short-term price momentum and support the…