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Silver price (XAG/USD) edges higher after two days of losses, trading around $48.70 per troy ounce during the Asian hours on Thursday. Silver prices may further appreciate due to increased safe-haven demand, driven by market caution ahead of the United States (US) inflation data for September due on Friday amid a data blackout. The prolonged US government shutdown delays the key US economic data releases, including Nonfarm Payrolls (NFP), adding uncertainty for financial markets and the Federal Reserve (Fed).The non-interest-bearing Silver may attract more buyers amid an increased likelihood of further Federal Reserve (Fed) rate cuts. A Reuters poll suggested…

Cues from the non-deliverable forward market suggest that the Indian rupee will open higher on Thursday, with traders watching for developments on a potential US-India trade deal.The 1-month non-deliverable forward indicated the rupee will open in the 87.80-87.85 range versus the US dollar, having settled at 87.9275 on Monday.Indian foreign-exchange and money markets were shut the last two days for Diwali holidays.India and the US are nearing a long-delayed trade pact that would lower US tariffs on Indian goods to around 15 per cent–16 per cent from 50 per cent, Mint reported, citing people familiar with the talks —a development…

GBP/USD fell for a fourth straight day on Wednesday, coming within inches of 1.3300 before staging a half-hearted recovery to the 1.3350 region but still ending the day on a down note. Cable traders will be getting a breather on the economic data front until a batch of key releases on Friday that will feature both UK and US data updates.Global risk appetite took a knee on Wednesday as the Trump administration publicly weighs its options on retaliating against China, who imposed stiff export controls on rare earths in recent weeks. US President Donald Trump has run the gamut of…

Gold (XAU/USD) is attempting to stabilize on Wednesday after a brutal selloff from record highs the previous day, finding some support as the US Dollar (USD) softens. At the time of writing, XAU/USD is trading around $4,040, down over 1.50% after briefly dipping to $4,004 earlier in the day.Bargain hunters are stepping in near the $4,000 psychological mark, but the rebound so far remains shallow. The yellow metal suffered its biggest one-day decline since August 2020 on Tuesday, plunging over 5% as investors rushed to lock in profits following an overextended rally to $4,380. The correction was long overdue, with…

In recent weeks, Nigel Farage has sharpened criticism of the Bank of England. His challenge to central bank independence isn’t just opposition rhetoric but signals potential future policy, Rabobank’s Senior Macro Strategist Stefan Koopman reports. UK central bank independence under scrutiny”The UK’s flexible institutional architecture enables swift and meaningful changes to its monetary regime. The bond market is the natural source of pushback. Markets may price this risk early if Reform UK’s polling leads persist and/or if central bank reform enters the party’s manifesto.””That could be reflected in steeper gilt curves with higher risk premiums, an FX uncertainty discount, and…

EUR/USD posts marginal gains on Wednesday, to snap a three-day losing streak, and trades near 1.1610 after hitting one-week lows right below 1.1600 earlier on the day. The US Dollar (USD) has lost some of its recent shine, as the Gold sell-off halts and the US government shutdown continues without prospects of an immediate solution.On Tuesday, US President Donald Trump rebuffed meeting requests by Democratic lawmakers from the previous day, saying that he will not meet them until the government reopens. Meanwhile, the shutdown enters its fourth week as the Senate failed to pass a funding resolution for the 11th…

The EUR/USD pair attempts to stabilize around 1.1600 during Wednesday’s Asian session, following a three-day losing streak. The major currency pair struggles to gain ground as the US Dollar (USD) holds its recent upside move, which came in the wake of easing trade tensions between the United States (US) and China.During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, holds onto recent gains near 99.00.Trade tensions between the US and China appear to be receding following comments from President Donald Trump that both Washington and Beijing will reach a consensus after…

The USD/JPY pair attracts some buyers to six-day peaks near 151.90 during the early Asian session on Wednesday. The Japanese Yen (JPY) weakens against the US Dollar (USD) after dovish Sanae Takaichi was elected as Japan’s Prime Minister. Traders will take more cues from the speeches of Federal Reserve (Fed) officials later on Wednesday, including Alberto Musalem and Michael Barr.Japan’s parliament on Tuesday elected ultraconservative Sanae Takaichi as the country’s first female prime minister. Takaichi vowed to strengthen the nation’s economy and defense capabilities and enhance relations with the US. Her victory came after the ruling Liberal Democratic Party (LDP) allied with the Japan Innovation Party and…

Gold (XAU/USD) drifts lower on Tuesday after retesting its record high near $4,380 on Monday. The pullback comes as the US Dollar (USD) extends its recovery gains and traders lock in profits following an overextended rally. At the time of writing, XAU/USD is trading around $4,135, down nearly 5% after briefly slipping to $4,081 earlier in the day.An improved risk appetite is weighing on the Bullion as investors show cautious optimism amid hopes of easing trade tensions between the United States (US) and China. Increasingly positive headlines have fueled expectations that the 100% tariffs US President Donald Trump threatened to…

Canada’s inflation edged higher in September, with the Consumer Price Index (CPI) rising 2.4% from a year earlier, up from August’s 1.9% increase, according to Statistics Canada. The figure came in just above market expectations, while prices gained 0.1% on a monthly basis.The Bank of Canada’s (BoC) preferred core CPI measure, which strips out volatile components such as food and energy, rose 2.8% over the last twelve months and climbed 0.2% on the month.Among the central bank’s closely watched inflation gauges, the Common CPI increased 2.7% on an annual basis, the Trimmed CPI climbed 3.1%, and the Median CPI rose…