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Dow Jones futures rise, up by 0.81%, above 45,800 during European hours, ahead of the United States (US) regular market open on Tuesday. Meanwhile, S&P 500 and Nasdaq 100 futures advance 0.78% and 0.54% to near 6,440 and 23,260, respectively, at the time of writing.US stock futures advanced as easing risk aversion and lower oil prices lifted market sentiment, driven by rising expectations that US President Donald Trump could bring the Iran conflict to an end. The Wall Street Journal reported that Trump indicated to aides he may stop the campaign even if the Strait of Hormuz remains largely closed.…
Amid sharp volatility in the currency markets and pressure on the Indian rupee, a report by the State Bank of India has suggested that oil marketing companies (OMCs) should be provided a special foreign exchange (FX) window to help stabilise the currency.The report noted that with the rupee witnessing sharp depreciation in a volatile global environment, the large and regular dollar demand from OMCs is adding to market pressure. It is recommended that regulators create a separate mechanism to isolate this demand from the broader market.“OMCs need to be offered a special window by the regulator that separates their daily…
The AUD/USD pair seesaws between tepid gains/minor losses during the Asian session on Tuesday and consolidates its recent losses registered over the past week or so, to its lowest level in over two months, touched the previous day. Spot prices currently trade around mid-0.6800s, nearly unchanged for the day, amid mixed fundamental cues.The Australian Dollar (AUD) draws some support from the hawkish Reserve Bank of Australia (RBA) meeting Minutes, showing that board members agreed further tightening would likely be needed. Adding to this, reviving hopes for a de-escalation of tensions in the Middle East boosts investors’ confidence, prompting a modest…
Mumbai: The rupee on Monday slumped to breach the psychologically crucial barrier of 95/$, upending market expectations of a stronger year-end showing, as it finished FY26 by retreating the most in 14 years – nearly 11%. The last month, coinciding with the Iran war, was particularly brutal and accounted for a 4% decline. The currency, which touched an all-time low of 95.21/$, had briefly advanced to 93.59/$ in the early hours, its strongest level on Monday. The trading amplitude for the unit was one of the widest Monday. Intervention from the Reserve Bank of India (RBI) in the last 15…
Silver price consolidates around the $70.00 mark for the third straight trading day, range-bound between $67.50 and $71.50, as buyers and sellers remain unable to push prices outside the range.XAG/USD Price Forecast: Technical OutlookThe bias in the short term is slightly bearish, with XAG/USD capped on the upside by the 100-day SMA at $74.11 and on the downside by the March 23 swing low at $61.02.Silver, since peaking at $96.39 on March 2, has printed a successive series of lower highs and lower lows, but the downtrend stalled as sellers failed to clear the $61.00 mark. Once XAG/USD bounced back…
Opening about 131 paise stronger against the previous close of 94.8125, the Indian currency closed at 94.83 per US dollar. The rupee saw wild swings on Monday, moving a whopping 170 paise intraday. It breached the 95 level per dollar for the first time before closing at a new low of 94.83 on the last day of trading in the current financial year.Reserve Bank of India’s (RBI) measures, announced last Friday, asking banks authorised to deal in foreign exchange to unwind long dollar positions in the domestic forex market initially strengthened the rupee substantially below the 94 level.However, it reversed…
The British Pound (GBP) collapses on Monday as Middle East escalations push the US Dollar (USD) higher, while Oil prices extend their gains for the fourth consecutive trading day. At the time of writing, the GBP/USD trades at 1.3184, down by more than 0.50%, hitting a four-month low.Sterling sinks as oil rises, Fed bets ease, UK outlook dims aheadMarket mood has improved slightly as US President Donald Trump said that the current Iranian regime seems “reasonable.” However, he added that if Iran’s new regime doesn’t open the Strait of Hormuz, the conflict could escalate after the arrival of 3,500 troops…
Societe Generale analysts note the INR rallied over 1% after RBI intervention and new limits on banks’ net open FX positions, but the currency remains down 4% this month amid heavy FPI outflows. They warn the relief is likely short‑lived given trade and fiscal headwinds and rising 10‑year IGB yields near 7.0%.Intervention bounce versus structural headwinds”The INR rallied by over 1% to 93.53/USD low after intervention by the RBI.””The central bank directed commercial banks to limit their net open positions in the rupee in the FX markets to $100m at the end of each business day (effective 10 April) vs…
The Indian rupee fell to a record low for the third straight session on Monday, finding only fleeting relief from the central bank’s tightening of banks’ forex position caps, as the outlook for Asian currency remained weak amid the Middle East war.The rupee weakened past the 95 per dollar mark for the first time to 95.21 per dollar, falling 0.3% from the previous close.The unit is on course to log its steepest fiscal year drop since 2011-12, as the Mideast war has raised risks for India’s inflation and growth outlook, adding to the strain from global trade frictions, geopolitical flare-ups…
The rupee pared its initial gains and hit a historic low of 95.22 in intra-day trade on Monday, rising oil prices, ongoing geopolitical tensions, and a strong dollar environment continuing to keep pressure on the currency.The rupee, which opened on a strong note after the Reserve Bank brought down the net open position that banks can keep overnight at USD 100 million, erased the gains and fell 160 paise from its opening level.At the interbank foreign exchange, the rupee opened at 93.62 and then gained further ground to 93.57 against the US dollar, registering a gain of 128 paise from…