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The Indian rupee closed modestly ‍weaker on Wednesday as dollar demand from local corporates and on account of maturing ⁠positions in the non-deliverable forward (NDF) market blunted positive cues from gains in most regional peers.The rupee ended at 89.7850 per U.S. dollar, down about 0.1% on the day.Most Asian ‌currencies edged ‌higher but traders said local flow dynamics continued to dominate price action for the rupee, even though ‌it has bounced back from the record-low levels hit last week.The maturity of positions in the NDF market also spurred dollar-buy bids at the daily reference rate, a trader at a Mumbai-based…

The rupee pared initial gains and settled for the day lower by 16 paise at 89.79 (provisional) against the US dollar on Wednesday, fuelled by persistent capital withdrawals from foreign investors, alongside heightened greenback demand from bullion importers. Forex traders said that despite the central bank’s announcement of USDINR swaps and Open Market Operations (OMO), the measures failed to boost market sentiments, amid strong dollar demand and rising crude oil prices. At the interbank foreign exchange, the rupee opened at 89.56 against the US dollar, then touched an intra-day high of 89.51, registering a 12-paise gain from its previous close.…

EUR/USD trades around 1.1800 on Wednesday at the time of writing, up 0.10% on the day, after reaching its highest level since late September earlier in the day. The pair is consolidating its recent gains in a low-liquidity environment, with investors remaining cautious ahead of the Christmas holidays.The US Dollar (USD) remains under pressure despite the release of strong US Gross Domestic Product data. The Bureau of Economic Analysis reported that the US economy expanded at an annualized rate of 4.3% in the third quarter, following 3.8% growth in the previous quarter, well above market expectations. However, the data provided…

Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $71.66 per troy ounce, up 0.19% from the $71.53 it cost on Tuesday.Silver prices have increased by 148.02% since the beginning of the year.Unit measureSilver Price Today in USDTroy Ounce71.661 Gram2.30The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 62.59 on Wednesday, down from 62.88 on Tuesday. Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange.…

EUR/JPY extends its losses for the third successive session, trading around 183.70 during the European hours on Wednesday. The currency cross remains within the ascending channel pattern, suggesting a persistent bullish bias. Additionally, the 14-day Relative Strength Index (RSI) sits at 62.20, easing from overbought yet still supportive of positive momentum.The EUR/JPY cross holds above the nine-day Exponential Moving Average (EMA) and the 50-day EMA, with both averages rising and confirming a bullish structure. The short-term average remains above the medium-term gauge, keeping the upside bias in place. The broader tone favors dip-buying while price holds over the rising 50-day…

The AUD/JPY cross attracts some sellers on Wednesday and sticks to modest intraday losses, around mid-104.00s during the first half of the European session. Spot prices, however, lack follow-through and remain close to the highest level since July 2024, touched the previous day.The Japanese Yen (JPY) gets a minor lift following the release of the Bank of Japan’s (BoJ) October policy meeting Minutes, which showed a broad agreement that the central bank should continue raising rates if economic price forecasts materialize. At the subsequent meeting in December, the BoJ raised the policy rate to 0.75%, or a 30-year high, and…

The AUD/USD pair jumps to near 0.6717 during the European trading session on Wednesday, the highest level seen in over a year. The Aussie pair strengthens as the Australian Dollar (AUD) outperforms its peers amid expectations that the Reserve Bank of Australia (RBA) could raise interest rates in 2026 to contain accelerating inflationary pressures.RBA hawkish expectations have been prompted after the release of the minutes of the monetary policy on Tuesday, which was announced on December 9, where they discussed raising interest rates next year. “Discussed whether a rate increase might be needed at some point in 2026, as recent…

Gold (XAU/USD) retreats slightly from a fresh all-time peak, around the $4,526 area touched earlier this Wednesday, and trades with a negative bias during the first half of the European session. The precious metal currently trades around the $4,485 region, down 0.25% for the day, though the downside seems limited amid a supportive fundamental backdrop.Dovish US Federal Reserve (Fed) expectations might keep a lid on the US Dollar’s (USD) modest intraday bounce from its lowest level since early October and act as a tailwind for the non-yielding Gold. Apart from this, rising geopolitical uncertainties could benefit the safe-haven bullion and…

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining flat after recovering daily losses and trading around 97.90 during the European hours on Wednesday.However, the Greenback faced challenges, which could be attributed to growing expectations of two rate cuts by the Federal Reserve (Fed) in 2026. Volumes are expected to be thin due to holiday-shortened trading.The yields on the 2- and 10-year US Treasury note rebounds to near 3.53% and 4.16%, respectively, on Wednesday. However, the US yields may pull back as traders continue to price in two Federal…

Dow Jones futures decline 0.11% to trade near 48,700 during the European session on Wednesday, while S&P 500 and Nasdaq 100 futures also decline, edging lower 0.10% and 0.09% to below 7,000 and 25,800, respectively. The New York Stock Exchange will close early for Christmas Eve and remain closed on Thursday for Christmas Day.US Index futures edged lower after the S&P 500 closed at a fresh record of 6,909.79 on Tuesday, extending its winning streak to four consecutive sessions. Technology stocks led gains again, with Nvidia rising 3%, Broadcom up 2.3%, and Amazon gaining 1.6%.Traders continued to price in two…