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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…

Foreign Institutional Investors sold equities worth ₹1,750.03 crore on Wednesday, according to exchange data | Photo Credit: Dmitriy Razinkov The rupee traded in a narrow range and depreciated by 7 paise to 88.69 against the US dollar in early trade on Thursday, as strong US dollar index and a muted trend in domestic equities weighed on investors’ sentiment. Forex traders said the rupee is trading in a tight range, with renewed optimism over US-India trade talks providing a steady anchor. In contrast, a steady US dollar index dented investors’ sentiment. The US dollar index is hovering near 99.50, as the…

Gold (XAU/USD) reverses a modest Asian session dip and climbs to an over three-week high, around the $4,213 region, on Thursday. Investors seem convinced that the delayed US macro data will show some weakness in the economy amid a prolonged US government shutdown and prompt the US Federal Reserve (Fed) to lower borrowing costs further in December. The outlook fails to assist the US Dollar (USD) in attracting any meaningful buyers and should continue to offer some support to the non-yielding yellow metal.Meanwhile, the optimism led by a positive development to reopen the US federal government remains supportive of the…

The House of Representatives was approaching a final vote late Wednesday on legislation to end the longest government shutdown in US history, the Wall Street Journal reported on Thursday.The bill, which passed the Senate on Monday, has sizable momentum, and its approval by the House would clear it for US President Donald Trump’s signature. Market reactionAt the time of writing, the US Dollar Index (DXY) is up 0.05% on the day at 99.50. US Dollar FAQs The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found…

The Euro (EUR) edges higher against the US Dollar (USD) on Wednesday, reversing earlier losses as the Greenback’s rebound loses steam ahead of a critical congressional vote to end the record-long US government shutdown. At the time of writing, EUR/USD is trading around 1.1589, extending its winning streak for the sixth consecutive day after bouncing off an intraday low near 1.1594.The US House of Representatives is set to vote later on Wednesday on a bill to reopen the government and restore federal operations. House Majority Leader Steve Scalise told CNBC the vote is expected around 7 p.m. ET, following Monday’s…

Gold (XAU/USD) trades little changed on Wednesday, consolidating gains near a three-week high as investors adopt a wait-and-see approach ahead of a crucial US congressional vote to end the record-long government shutdown. At the time of writing, XAU/USD is trading around $4,130, with market participants staying on the sidelines amid subdued risk appetite.The US House of Representatives is set to vote later on Wednesday on a stopgap funding bill aimed at reopening the government and ending the record-long shutdown. The proposal would keep most federal agencies funded through January 30, 2026, while extending funding for some departments until September 30,…

The Indian rupee slipped on Wednesday, weighed down by dollar demand from local companies alongside modest declines in regional peers, while expectations of central bank intervention on the path to its all-time low capped losses.The rupee closed at 88.63 against the U.S. dollar, down slightly from 88.5675 in the previous session.Continuous dollar demand from local importers, including oil companies, has exerted pressure on the local currency over the last few weeks, traders said.Months of uncertainty over a U.S.-India trade deal have also distorted India’s FX hedging landscape, as expectations that the rupee may weaken further amplified importer hedging and kept…

 At the interbank foreign exchange, the rupee opened at 88.61 against the US dollar and touched an intra-day high of 88.56 and a low of 88.66 during the day. | Photo Credit: istock.com The rupee depreciated 16 paise to close at 88.66 (provisional) against the US dollar on Wednesday, weighed down by the strength of the American currency in the overseas market and elevated crude oil prices. Forex traders said the rupee traded within a range as renewed optimism over the India-US trade deal and rising hopes that the government shutdown could end soon supported the domestic unit at lower…

EUR/JPY continues its winning streak for the fourth successive session, trading around 179.10 during the European hours on Wednesday. The currency cross is testing resistance within a bearish pattern, trading near the upper boundary of an ascending wedge pattern. A potential reversal could occur if the price fails to break out convincingly and instead turns lower.The 14-day Relative Strength Index (RSI) is climbing toward the 70 mark, reinforcing the bullish bias. However, a move above 70 would signal overbought conditions and raise the likelihood of a near-term downward correction. The EUR/JPY cross suggests a stronger short-term momentum, trading above the…

For nearly three months, the U.S. dollar seemed to be caught in a long, drawn-out test match — plenty of defence, no boundaries, and a lot of waiting for the right ball to hit. Hovering around the 97–98 levels, it looked tired, weighed down by Donald Trump’s tariff theatrics and political squabbles in Washington. The pitch wasn’t easy — uncertainty kept investors on their toes, and the Fed’s rate cuts only added to the confusion.But just when it looked like the dollar was running out of breath, it found its rhythm again. Now trading near the 100 mark, the currency…