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USD/JPY trims early losses on Friday, with the pair rebounding toward nine-month highs as the US Dollar (USD) stabilizes. At the time of writing, USD/JPY is trading around 154.60, recovering from an intraday low near 153.62 and remains on track for modest weekly gains.In the United States, market sentiment improved after the federal government reopened, although the underlying tone remains cautious. Investors continue to grapple with uncertainty over the release of delayed economic data following the record-long shutdown.US Labor Secretary Chavez-Deremer said on Friday that the Bureau of Labor Statistics was unable to fully gather the October Consumer Price Index…

Gold (XAUUSD) trades on the back foot on Friday as bulls struggle to hold early gains amid mixed market sentiment. At the time of writing, XAU/USD is trading around $4,100, down nearly 1.5%, after sliding to $4,032 earlier in the dayRelief over the end of the US government shutdown has eased some of Gold’s safe-haven appeal. At the same time, a run of cautious remarks from Federal Reserve (Fed) officials has prompted traders to dial back expectations of a December rate cut. The fading prospect of near-term easing is helping the US Dollar (USD) recover after recent weakness, adding pressure…

AUD/USD trades higher on Friday around 0.6550 at the time of writing, up 0.30% on the day, supported by renewed demand for the Australian Dollar (AUD) following solid economic releases from Australia and China, while uncertainty persists around the US Dollar (USD).The Australian Dollar is benefiting from a stronger-than-expected labor market. The latest figures from the Australian Bureau of Statistics (ABS) showed the Unemployment Rate falling to 4.3% in October from 4.5% previously, along with a net Employment gain of 42.2K, including 55.3K new full-time jobs.These numbers, which significantly exceeded expectations, reinforce the view that the Reserve Bank of Australia…

NZD/USD trades higher around 0.5680 on Friday, up 0.60% on the day at the time of writing. The pair benefits from a softer US Dollar (USD) as investors remain cautious ahead of the resumption of key US macroeconomic releases, which were delayed due to the recent government shutdown. The US Dollar Index (DXY) stays near its two-week low, reflecting ongoing downward pressure on the Greenback.On the monetary policy front, markets have recently scaled back expectations for a dovish shift by the Federal Reserve (Fed), as several officials reiterated the need to bring above-target inflation back under control.However, uncertainty surrounding upcoming…

USD/CHF stages a modest rebound on Friday after slipping to its lowest level since October 17 earlier in the European session. The pair found support as traders reacted to headlines that the United States (US) and Switzerland have reached a new trade deal, helping stabilize sentiment.At the time of writing, USD/CHF is trading around 0.7931, snapping a seven-day losing streak as a slightly firmer US Dollar (USD) helps limit the downside. The US Dollar Index (DXY), which measures the Greenback’s value against a basket of six major currencies, is staging a modest rebound from two-week lows, trading around 99.37, up…

Federal Reserve (Fed) Bank of Kansas City President Jeffrey Schmid spoke about the economic outlook and monetary policy at the Joint Energy Conference hosted by the Federal Reserve Banks of Dallas and Kansas City, in Denver on Friday. He said that monetary policy should lean against demand growth and that there is no room for complacency on inflation expectations.Key takeawaysFurther rate cuts won’t patch job market cracks, could do damage to inflation.My rationale for October dissent continues to guide me as I head toward December.Inflation is too hot, labor market is cooling but largely in balance.Fed policy is modestly restrictive,…

The central bank conducted Rs 12,470 crore worth of open market operation (OMO) purchases in the secondary market in the week ended November 7 I the first such action in five months, as it sought to support domestic banking liquidity amid rising bond yields. The 10-year benchmark bond yield closed 6.52%, two basis points higher than its previous close, largely due to a demand supply mismatch. “Today’s (Fridays’) data gives a confirmation to the market that the central bank was present last week. It also seems to have done OMO purchases at the start of this week worth around the…

EUR/CAD trades with minimal movement on Friday, holding near 1.6310 at the time of writing, as investors assess the impact of a more cautious tone from the European Central Bank (ECB). The Euro (EUR) receives moderate support after comments from several policymakers, who reinforced the view that monetary policy should remain unchanged as long as economic conditions do not warrant an adjustment.Isabel Schnabel, member of the ECB Executive Board, stated this week that there is “no need” to adjust interest rates at this stage, emphasizing that the institution remains focused on core inflation dynamics. Meanwhile, Vice President Luis de Guindos…

The AUD/USD pair gives up its early gains and declines 0.3% to near 0.6500 during the European trading session on Friday. The Aussie pair slumps as the US Dollar (USD) bounces back strongly.At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, recovers its intraday losses and rises to near 99.40. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the British Pound. USDEURGBPJPYCADAUDNZDCHFUSD0.17%0.38%0.11%0.07%0.33%-0.29%-0.13%EUR-0.17%0.21%-0.07%-0.10%0.15%-0.46%-0.31%GBP-0.38%-0.21%-0.28%-0.31%-0.04%-0.66%-0.51%JPY-0.11%0.07%0.28%-0.00%0.24%-0.39%-0.22%CAD-0.07%0.10%0.31%0.00%0.25%-0.35%-0.20%AUD-0.33%-0.15%0.04%-0.24%-0.25%-0.61%-0.46%NZD0.29%0.46%0.66%0.39%0.35%0.61%0.16%CHF0.13%0.31%0.51%0.22%0.20%0.46%-0.16% The heat map shows percentage changes of major currencies against…

 At the interbank foreign exchange market, the rupee opened at 88.70 against the US dollar. During the day, the domestic unit witnessed an intra-day low of 88.75 against the greenback. | Photo Credit: istock.com The rupee fell three paise to close at 88.73 (provisional) against the US dollar on Friday, weighed down by the strength of the American currency and rising crude oil prices. Forex traders said a rebound in domestic equities following a sweeping mandate for the ruling alliance in the Bihar polls supported the rupee at lower levels. At the interbank foreign exchange market, the rupee opened at…