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The Australian Dollar (AUD) steadies against the US Dollar (USD) after the release of the preliminary S&P Global Purchasing Managers Index (PMI) on Friday. Traders await key quarterly inflation data for Australia next week that could shape the Reserve Bank of Australia’s (RBA) policy outlook.The preliminary Australia’s S&P Global Manufacturing Purchasing Managers Index (PMI) fell to 49.7 in October from 51.4 prior. Meanwhile, Services PMI rose to 53.1 in October from the previous reading of 52.4, while the Composite PMI increased to 52.6 in October against 52.4 prior.RBA Governor Michele Bullock spoke in Sydney but made no comments on monetary…

The GBP/JPY extended its gains on Thursday, ending up 0.19% at around 203.30, up so far in the week close to 0.55%. At the time of writing, as Friday’s Asian session begins, the cross-pair trades at 203.36 virtually unchanged.GBP/JPY Price Forecast: Technical outlookFrom a technical standpoint, the GBP/JPY remains subdued after dropping to a nine-day low of 200.68, in October 17. Nevertheless, the pair has recovered some ground, and it seems poised to test higher prices.The Relative Strength Index (RSI) shows that buyers are gathering momentum as the RSI is bullish.With that said, the first resistance would be 203.50. If…

GBP/USD retreats on Thursday, down over 0.21% after the latest inflation report in the United Kingdom (UK) increased the odds for a Bank of England (BoE) rate cut by the end of the year. At the time of writing, the pair trades at 1.3326 after reaching a high of 1.3360.Sterling weakens as traders turn cautious ahead of Friday’s key US CPI releaseA scarce economic docket in the US and the UK keeps traders waiting for Friday’s US Consumer Price Index (CPI) report, with estimates of headline and core inflation at 3.1%. In the meantime, Existing Home Sales in the US…

The Pound Sterling (GBP) drops slightly to near 1.3340 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair edges down after comments from Bank of England (BoE) Monetary Policy Committee (MPC) member Swati Dhingra signaling that United States (US) tariffs could put downward pressure on prices in the United Kingdom (UK) economy.”Tariffs mean lower overall growth and some downward pressure on prices in the medium term,” Dhingra said in her prepared remarks at Ireland’s central bank on Thursday.The outlook for the British currency has become uncertain as traders have raised bets supporting more interest…

The rupee struggled for direction on Thursday, stuck in a narrow range before ending marginally higher, as inflows into local shares and dollar-selling by state-run banks offset importer demand for the U.S. currency for hedging.The rupee had opened higher at 87.8325 per U.S. dollar, buoyed by a media report that Washington may cut tariffs on Indian imports to 15%-16% from 50%.However, the advance was soon reversed, with the currency dropping to 87.96 intraday, before recovering again to end at higher at 87.84. It had settled at 87.9275 on Monday.Indian foreign-exchange and money markets were shut Tuesday and Wednesday for Diwali…

The rupee appreciated by seven paise to close at 87.86 (provisional) against the US dollar on Thursday, supported by a positive trend in domestic equities and risk-on sentiments amid optimism about the US-India trade deal.Forex traders said the rupee closed on a positive note as there is a growing buzz that India and the US are inching closer to finalizing a long-awaited trade deal.At the interbank foreign exchange, the rupee opened at 87.80 and touched an intraday low of 87.96 before settling at 87.86 (provisional), registering a rise of 7 paise from its previous close.On Monday, the rupee had settled…

The euro remains steady amid signs of resilient growth and the ECB’s policy guidance. The USD strengthens amid expectations of two additional rate cuts by year-end.   Traders await comments from FOMC members Bowman and Barr for further policy and economic directions.  The EUR/USD outlook shows the pair under pressure, maintaining a cautious market sentiment amid mixed signals from the Eurozone and the US. The euro holds steady due to resilient growth signs and the ECB’s policy. –Are you interested in learning more about crypto robots? Check our detailed guide- The steady euro is supported by expectations that the European Central…

USD/CAD moves little after two days of losses, trading around 1.3990 during the early European hours on Thursday. The technical analysis of the daily chart suggests a weakening of a prevailing bullish bias as the pair is attempting to break below the ascending channel pattern.The short-term price momentum has turned weaker as the USD/CAD pair moved below the nine-day Exponential Moving Average (EMA). However, the 14-day Relative Strength Index (RSI) is still positioned above the 50 level, suggesting that the bullish bias is still stronger.On the upside, the initial resistance appears at the psychological level of 1.4000, followed by the…

The RBI’s intervention has lifted the rupee from near-record lows and improved the returns on Indian bonds, which are on track to beat their emerging market peers for a second straight month. Foreign investors ramped up purchases of Indian government bonds by 46 times last week, an indication that aggressive currency intervention by the central bank is building market confidence.Global funds bought ₹5,551 crore ($631 million) of debt accessible to foreigners last week, according to Clearing Corporation of India Ltd data, compared with ₹121 crore in the prior week. The currency surged nearly 1 per cent last Wednesday after the…

The rupee appreciated 13 paise to 87.80 against the US dollar in early trade on Thursday, supported by optimism on the US-India trade deal front. Forex traders said foreign fund inflows, a positive trend in domestic equities and risk-on sentiments boosted investor sentiments. At the interbank foreign exchange market, the rupee opened at 87.80 against the US dollar, registering a gain of 13 paise from its previous close.On Monday, the rupee had settled 9 paise higher at 87.93 against the greenback. Foreign exchange markets were closed on Tuesday and Wednesday due to Diwali and Diwali Balipratipada, respectively.Live Events “The Indian…