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The rupee appreciated 31 paise to 94.29 against the US dollar in early trade on Wednesday as Brent crude oil prices and the US dollar index retreated further from their elevated levels.Forex traders said the rupee opened on a positive note as Brent crude has fallen to near $79 per barrel — a three-month low — as markets price in the reopening of the Strait of Hormuz following the US-Iran framework.At the interbank foreign exchange market the rupee opened at 94.46, then touched 94.29, registering a gain of 31 paise from its previous close.On Tuesday, the rupee ended 2 paise…
Gold (XAU/USD) struggles to capitalize on its weekly gains, though it holds above the $4,300 mark through the Asian session on Wednesday. The latest optimism over an interim US-Iran peace deal keeps the US Dollar (USD) on the defensive, which is seen supporting the bullion. The commodity, however, remains below the weekly swing high set on Monday and a technically significant 200-day Simple Moving Average (SMA) as traders opt to wait for the outcome of a two-day FOMC policy meeting. The crucial FOMC decision will drive demand for the US Dollar (USD) and provide fresh impetus to the non-yielding yellow…
Kolkata: The rupee on Tuesday advanced against the dollar for the third straight day as an initial peace pact on West Asia, scheduled to be inked later this week in Europe, caused oil prices to retreat further amid expectations that reopening of the Hormuz channel would help restore disrupted energy supplies within weeks, if not months.The rupee climbed 15 paisa to close at 94.56 a dollar, having traded in a narrow range through the day when yields on the benchmark bond showed signs of consolidation, retreating to 6.86%. Crude oil prices fell to about $80 a barrel, their lowest in…
Gold price (XAU/USD) holds positive ground around $4,335 during the early Asian session on Wednesday. The precious metal rebounds from its lowest levels of the year, which reached last week after the United States (US) and Iran had agreed on a framework deal to end the war. All eyes will be on the US Federal Reserve (Fed) interest rate decision later on Wednesday. Washington and Tehran are preparing to formally sign an interim peace deal that’s left both sides claiming victory, per Bloomberg. A US official said the full accord may be published in the next two days ahead of a…
USD/CHF extends losses for a second consecutive day on Tuesday as easing tensions between the United States (US) and Iran weigh on demand for the safe-haven US Dollar (USD). At the time of writing, the pair trades around 0.7921, down 0.30% on the day.Despite improving market sentiment, traders remain cautious ahead of the formal signing of the agreement on Friday. Iran’s Foreign Minister Abbas Araghchi warned that any Israeli attack on Lebanon or continued occupation of its territory would violate the interim agreement with the US.The lingering uncertainty could limit downside in the US Dollar, in turn capping gains in…
Private-sector hiring in the US has cooled in late May. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 25.5K jobs per week in the four weeks ending May 30.That marks a marginal downtick from the prior reading (29K), showing further impasse in hiring.What do the ADP figures mean for the US Dollar?The Greenback alternates gains with losses around 99.70 following Monday’s pullback, briefly reaching two-day highs when gauged by the US Dollar Index (DXY).The weekly decline in the US Dollar (USD) exclusively follows cooling of geopolitical tensions in the…
The Indian rupee rose for a third consecutive session on Tuesday as underlying sentiment remained supportive, while traders awaited details of the U.S.–Iran peace agreement and guidance from the U.S. Federal Reserve.The rupee closed up 0.2% at 94.56 against the dollar. The local unit opened at 94.6125, and moved around 10 paisa on either side of Friday’s close during the session.The rupee had hit an intraday high of 94.4950 before slipping, suggesting importer hedging interest around those levels, traders said.”Supported by foreign inflows from the central bank measures and softer oil prices after end of war, the rupee is likely…
Societe Generale’s Kenneth Broux highlights that USD/CAD has broken above a key descending trendline and the upper boundary of a multi‑month base, signalling renewed upside momentum. The bank sees scope for gains towards 1.4030/1.4090 and the November 2025 peak near 1.4150, with the 1.3940/1.3900 area acting as initial short‑term support on any pullbacks.Breakout targets higher resistance zone”USD/CAD crossed the descending trendline drawn from 2025 and has now broken out above the upper boundary of a multi-month base.””This highlights the upward momentum is regaining.””The pair may extend the up move towards next projections of 1.4030/1.4090 and the peak of November 2025…
The Japanese Yen (JPY) surrenders some of its early gains against its major currency peers during the Asian trading session after the Bank of Japan’s (BoJ) monetary policy decision. The EUR/JPY pair rebounds from the day’s low of 185.45 to near 185.65, but is still 0.12% higher than its Monday closing price, as the BoJ has raised interest rates by 25 basis points (bps) to 1%, as expected, in the absence of Governor Kazuo Ueda, who has been hospitalized. Japanese Yen Price Today The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese…
The U.S. dollar held near 10-day lows on Tuesday as a deal to end the Middle East war buoyed risk appetite, with attention turning to central bank meetings in Japan and Australia to gauge if the peace deal came a little too late to ease near-term inflation concerns. The Bank of Japan is widely expected to raise rates later in the day, while the Reserve Bank of Australia is seen holding steady. U.S. President Donald Trump said a preliminary agreement to end the war has been signed by the U.S. and Iran. Details have yet to be made public but…