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The rupee depreciated 9 paise to close at 89.96 (provisional) against the US dollar on Wednesday, tracking a negative trend in domestic equities and sustained foreign fund outflows. Forex traders said investors are in a wait-and-watch mode, awaiting clarity from the US Federal Reserve before taking decisive positions. Investors are also awaiting cues from the US-India trade talks, which could boost the rupee in the coming days. At the interbank foreign exchange market, the rupee opened at 90.00, then fell to an intra-day low of 90.10 against the US dollar and finally settled for the day at 89.96 (provisional), down…

The Japanese Yen (JPY) remains on the front foot against a broadly weaker US Dollar (USD) through the early European session on Wednesday, though it lacks bullish conviction. Japan’s Corporate Goods Price Index exceeded expectations and reaffirmed bets for an imminent rate hike by the Bank of Japan (BoJ). This, along with the cautious market mood, assists the safe-haven JPY to recover slightly from a two-week low, touched against its American counterpart on Tuesday.However, concerns about expansionary fiscal measures in Japan and growth worries hold back the JPY bulls from placing fresh bets. Investors also seem reluctant and opt to…

USD/JPY forecast remains mildly soft ahead of the FOMC rate decision. Next Fed Chair headlines keep the markets uncertain. Technically, the price could test the 200-day moving average before accumulating sufficient buying. The USD/JPY price traded with mild softness on Tuesday as the Dollar Index drifted lower following fresh headlines about the next Fed leadership. The US dollar also remains under pressure amid the looming Fed rate decision today. Meanwhile, the US JOLTS Job Openings data provided some relief to the pair. If you are interested in automated forex trading, check our detailed guide- The delayed data showed a slight…

The rupee depreciated 20 paise to 90.07 against the US dollar in early trade on Wednesday, facing pressure from importer dollar demand, tariff concerns and market anticipation of US FED Reserve policy decision. Forex traders said all eyes will be on the US-India trade talks which could give some positivity to the rupee in the coming days. India and the United States will commence three-day talks on the first phase of their proposed bilateral trade agreement here from December 10. At the interbank foreign exchange, the rupee opened at 90.00 against the US dollar, then lost ground and fell to…

The USD/CAD pair trades marginally higher to near 1.3855 during the Asian trading session on Wednesday. The Loonie pair is expected to trade broadly sideways as investors await monetary policy announcements by the Bank of Canada (BoC) and the Federal Reserve (Fed), which are scheduled for the North American session.At the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades flat around 99.25, following an upside move the previous day. The DXY attracted bids on Tuesday after the release of the surprisingly upbeat United States (US) JOLTS Job Openings data for October.…

GBP/USD eased back toward the midrange on Tuesday, shedding around one-fifth of one percent after facing an intraday technical rejection from the 1.3350 level. Price action has slumped back into the 1.3300 handle and is holding just north of the long-term 200-day Exponential Moving Average (EMA) near 1.3250 as markets hunker down for the last Federal Reserve (Fed) interest rate decision of 2025.Fed on deck, rate cut expected but tone mattersInvestors are mainly focused on the Fed’s interest rate decision scheduled for December 10, which is widely anticipated to result in a third consecutive quarter-point reduction. Fed funds futures currently…

Bank of England (BoE) Deputy Governor for Markets and Banking Dave Ramsden, Deputy Governor for Monetary Policy Clare Lombardelli, and MPC member Catherine Mann gave comments to the Treasury Select Committee on Tuesday about the November monetary policy report.Key takeawaysBoE’s Ramsden :Gradual removal of policy restraint appropriate.I do not currently think there is evidence to suggest that the economy is developing out of line with our baseline forecasts.”BoE’s Lombardelli :I worry more about upside risks to inflation.I put weight on structural factors pushing up inflation.I am less convinced than others about how restrictive policy is.Might slow down rate cutting pace…

United States (US) President Donald Trump criticizes Federal Reserve (Fed) Chair Jerome Powell, in an interview with Politico during the European trading session on Tuesday, for not reducing interest rates, calling him “not a smart person”. Trump also talked about the current status of truce discussions with Russia and Ukraine.Additional remarksWould make support for immediately slashing interest rates as a litmus test in the choice of a new Fed chair (well, duh).Ukraine hasn’t had an election in a long time.No question Russia has a stronger position.On Ukraine: Europe is not handling it well.Europe nations are ‘decaying, leaders are ‘weak’.Trump denies…

The rupee pared its initial losses and settled for the day in the positive territory, up 17 paise at 89.88 (provisional) against the US dollar on Tuesday, as American currency and crude oil prices retreated from their elevated levels. Forex traders said the weakness of the US dollar in the overseas market, amid expectations of a US Fed rate cut in December, supported the rupee at lower levels. However, a negative trend in domestic equities and foreign fund outflows weighed on investor sentiment, limiting the local unit’s appreciation. Moreover, investors are in a wait-and-watch mode, and market participants are awaiting…

Gold (XAU/USD) trades with a negative bias for the third straight day and drops to a one-week low, around the $4,170 region, during the early European session on Tuesday. The downtick lacks any obvious fundamental catalyst and could be attributed to some repositioning trade ahead of the highly anticipated FOMC policy meeting, starting later today. Investors will keep a close eye on updated economic projections, including the so-called dot plot, and Federal Reserve (Fed) Chair Jerome Powell’s post-meeting press conference for cues about the future rate-cut path. This, in turn, will play a key role in influencing the US Dollar…