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The Indian rupee weakened on Friday and for the week as global risk-off sentiment added to pressure from unfavourably skewed hedging and investment flows, keeping the currency pinned near its record low. The Reserve Bank of India likely intervened across the spot, NDF and futures markets to stabilise the currency, traders said. The rupee closed at 88.7425 per U.S. dollar, down about 0.1% on both the day and week.Global markets were under strain after hawkish Federal Reserve commentary dampened expectations of a U.S. rate cut next month. India’s benchmark equity indexes, the BSE Sensex and Nifty 50 though, bucked the…

The USD/CAD forecast suggests a mild upside as the US dollar gains momentum following the shutdown’s end. The uptick in WTI and Canada’s strong employment data could not lend support to the loonie.  US yields and rate cut expectations could further shape the markets.  The USD/CAD forecast suggests a slight bullish momentum, trading well above the 1.4000 psychological mark. Earlier, the CAD strengthened amid fresh buying in crude oil prices, driven by rising geopolitical tensions between Russia and Ukraine.  –Are you interested in learning more about XRP price prediction? Check our detailed guide- The WTI rally continued in the second…

The Eurozone Q3 GDP OverviewEurostat is set to release preliminary Q3 Gross Domestic Product (GDP), seasonally adjusted data, for the Eurozone at 10:00 GMT on Friday.The flash Eurozone GDP is expected to hold steady at 0.2% quarter-over-quarter (QoQ) growth in the third quarter, while annual growth is projected to stay at 1.3% growth for the same period.How could the Eurozone Q3 GDP affect EUR/USD?The EUR/USD pair is expected to continue its winning streak that began on November 5, following the release of Eurozone Q3 GDP data. The Euro (EUR) receives support against its peers as traders expect the European Central…

The rupee depreciated by 5 paise to 88.75 against the US dollar in early trade on Friday, tracking a negative trend in domestic equities and foreign fund outflows. Forex traders said investors are taking a cautious approach due to the lack of an announcement on the India-US trade deal. At the interbank foreign exchange market, the rupee opened at 88.70 against the US dollar before dropping to 88.75, down 5 paise from its previous close.On Thursday, the rupee settled 8 paise lower at 88.70 against the US dollar. “Traders are perplexed by the non-announcement of the India-US trade deal despite…

Following the publication of the high-impact China’s activity data, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Friday.Key quotesThere is short-term pain when new growth drivers replace the old ones.We will continue to nurture new productivity.Improving domestic supply-demand situation, rises in services prices and industrial products prices sent oct cpi to growth from fall.The economic stabilisation lays firm foundation for China to achieve the full-year growth target.There are positive changes in market supply-demand, firms’ performance improves.Consumer goods trade-in scheme still effective to drive up some products sales.October catering revenue growth speeds up notably.China’s consumption structure upgrading…

UK Prime Minister Keir Starmer and Finance Minister Rachel Reeves have dropped the plan to raise income tax rates, in a dramatic turn ahead of the budget on November 26, the Financial Times reported on Thursday.Market reactionAt the time of writing, the GBP/USD pair is up 0.08% on the day at 1.3143. Pound Sterling FAQs The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according…

The Australian Dollar (AUD) eases slightly against the US Dollar (USD) on Thursday, reversing most of the early advance after briefly climbing to a two-week high on the back of stronger-than-expected employment data. At the time of writing, AUD/USD is holding firm above 0.6550, with the intraday pullback more likely driven by profit-taking rather than any shift in underlying fundamentals.The broader tone remains constructive as the Greenback stays on the back foot. The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is trading around 99.10, down nearly 0.35% on the day. Traders…

Gold (XAU/USD) extends its advance on Thursday, climbing above the $4,200 psychological barrier and notching a five-day winning streak. The precious metal has now retraced most of its corrective decline from the all-time high near $4,381. At the time of writing, XAU/USD is trading around $4,235, up more than 5.50% this week, with upward momentum firmly intact.A broadly constructive market tone following the deal to end the United States (US) government shutdown has done little to slow Gold’s rise. Instead, investors are focusing on the delayed US economic data set to roll out as federal operations resume, which could sharpen…

The rupee consolidated in a narrow range and settled for the day lower by 6 paise at 88.68 (provisional) against the US dollar on Thursday, as foreign fund outflows and continuous dollar demand from local importers, including oil companies, exerted pressure on the local currency.Forex traders said rupee is trading in a tight range, as overnight decline in crude oil prices and renewed optimism over US-India trade talks providing a steady anchor and restricted the downfall.At the interbank foreign exchange, the rupee opened at 88.66 against the US dollar and touched an intra-day high of 88.63 and a low of…

EUR/JPY extends its winning streak for the fifth successive session, trading near a fresh all-time high of 179.82 during the European hours on Thursday. The currency cross breaks above the upper resistance of an ascending wedge pattern, signalling strong buying pressure and a bullish breakout.The 14-day Relative Strength Index (RSI) is positioned slightly below the 70 mark, reinforcing the bullish bias. However, a move above 70 would indicate overbought conditions and raise the likelihood of a near-term downward correction. The EUR/JPY cross suggests a stronger short-term momentum, rising above the nine-day Exponential Moving Average (EMA).On the upside, the EUR/JPY cross…