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The Australian Dollar (AUD) is virtually unchanged against the US Dollar (USD) on Friday after volatile two-way price action driven by a mix of US macro data. At the time of writing, AUD/USD trades around 0.6511, holding steady after earlier swings following the release of the US Consumer Price Index (CPI) and S&P Global Purchasing Managers Index (PMI) reports.The Greenback briefly came under pressure after softer-than-expected inflation data lifted the Aussie earlier in the session. However, the momentum faded as the USD recovered following stronger business activity readings, which underscored ongoing resilience in the US economy. The US Dollar Index…

Gold (XAU/USD) stages a rebound on Friday, trimming intraday losses after softer-than-expected US Consumer Price Index (CPI) data. At the time of writing, XAU/USD is trading around $4,130, recovering from session lows near $4,044, though the metal remains on track to snap its nine-week winning streak.The weaker inflation data reinforced expectations of a 25-basis-point (bps) rate cut at the Federal Reserve’s (Fed) October 29-30 monetary policy meeting. Lower borrowing costs typically enhance the appeal of non-yielding assets like Gold, as they reduce the opportunity cost of holding the metal.Market sentiment somewhat improved amid hopes of a de-escalation in the renewed…

EUR/GBP advances during the North American session on Friday, even though Retail Sales in the UK exceeded estimates, but a softer inflation reading increased the odds for further easing by the Bank of England. The cross trades at 0.8744, up 0.74% and hitting a four-week high at the time of writing.Sterling weakens despite upbeat sales figures; Euro lifted by firmer PMIs across the blocEarlier, the Office for National Statistics (ONS) revealed that Retail Sales in September rose 1.5% YoY, exceeding forecasts of 0.6%, boosted by technology and demand for Gold from online retailers. Core sales, which exclude petrol, expanded by…

Business activity in the United States’ (US) private sector expanded at a healthy pace in October, with the S&P Global Composite Purchasing Managers’ Index (PMI) improving to 54.8 in the flash estimate from 53.9 in September.In this period, the S&P Global Manufacturing PMI edged higher to 52.2 from 52, while the Services PMI climbed to 55.2 from 54.2. Both of these prints came in better than analysts’ estimates.Assessing the survey’s findings, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, stated, “October’s flash PMI data point to sustained strong economic growth at the start of the fourth quarter, with…

CHENNAI: 22/07/2025: A view of the US Doller…..Photo: SRINATH M/ THE HINDU | Photo Credit: SRINATH M India’s forex reserves jumped by $4.49 billion week-on-week to $702.28 billion as on October 17, primarily led by sharp rise in gold reserves, according to data released by the Reserve Bank of India. Foreign currency assets (FCA) — which include investment in securities, deposits with other central banks and the BIS, and deposits with commercial banks overseas — stood at $570.41 billion, down $1.69 billion compared to last week. During the week ended October 17, the RBI bought gold amounting to $6.18 billion, taking the…

EUR/USD remains trading within previous ranges, unable to find acceptance above 1.1620, despite the upbeat German and Eurozone business activity figures released earlier on Friday. The pair changes hands at 1.1615, at the time of writing, practically unchanged on daily charts, with all eyes on the US Consumer Price Index (CPI) release, due later on the day.Eurozone’s HCOB Purchasing Managers Index (PMI) data revealed an unexpected expansion of the manufacturing sector’s activity in October and a stronger-than-expected growth in the Services sector, which has shown the strongest activity in the last 12 months. These figures improve the outlook of the…

The rupee appreciated 10 paise to close at 87.78 (provisional) against the US dollar on Friday, supported by optimism around India-US trade talks and a decline in global crude oil prices.However, FII outflows, a stronger dollar against foreign currencies, and a weak sentiment in the domestic equity markets restricted sharp gains in the local unit, according to forex traders.At the interbank foreign exchange, the rupee opened at 87.78 against the US dollar and traded in the range of 87.63-87.85 before settling at 87.78 (provisional), up 10 paise from its previous close.The rupee appreciated 5 paise to close at 87.88 against…

The Indian rupee climbed to a two-month high on Thursday, supported by likely inflows and the lingering impact of the Reserve Bank of India’s persistent dollar offers near the 88 level.The rupee rose to 87.6350 per dollar, its highest since late August, before dipping back to near 87.70.While state-run banks were seen selling dollars, traders reckoned the flows were not on behalf of the RBI. The central bank’s recent defence near 88, however, has continued to anchor sentiment and dampen volatility, they said.”The flow mix today, it would seem, is more friendly for the rupee,” said a dealer at a…

The overall business activity in the Eurozone’s private sector has unexpectedly expanded at a faster pace in October. The Composite PMI has landed at 52.2, while it was expected to come in lower at 51.0 from 51.2 in September.The Services PMI jumped to 52.6 from estimates of 51.1 and the prior reading of 51.3. Meanwhile, the manufacturing sector activity has managed to return to the expansion territory after contracting in September. The Manufacturing PMI comes in at 50.0, higher than estimates of 49.5 and the former release of 49.8. A figure below the 50.0 threshold is considered a contraction in…

The rupee rose 9 paise to 87.79 against the dollar in early trade on Friday, bolstered by a drop in global crude oil prices and optimism around an India-US trade deal. However, FII outflows prevented sharper gains, forex traders said. At the interbank foreign exchange, the rupee opened at 87.78 against the US dollar before dropping marginally to 87.79, down 9 paise from its previous close.The rupee appreciated 5 paise to close at 87.88 against the US dollar on Thursday. “The Reserve Bank of India was again present at 87.95 yesterday (Thursday), ensuring that the rupee does not cross 88.00…