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The USD/CAD pair maintains a bullish bias amid weak oil prices and heightened expectations of rate cuts by the Bank of Canada. This week’s upcoming Canadian CPI release could boost the CAD if the data exceeds the forecast. Traders look forward to the Canadian CPI and FOMC’s Waller’s comments for further policy cues.  The USD/CAD forecast shows an uptrend around 1.4050, backed by a waning Canadian dollar amid declining oil prices and rising BoC rate cut bets. The Bank of Canada business outlook indicated an improvement in business sentiment. –Are you interested in learning more about crypto robots? Check our…

After a brief period of uncertainty, Sanae Takaichi was elected as Japan’s first female prime minister early this morning. After she was elected chair of the LDP in early October, this seemed to be a foregone conclusion. However, after coalition partner Komeito surprisingly terminated the coalition following initial exploratory talks, the election, which was supposed to take place in the lower house on October 15, had to be postponed once again, Commerzbank’s FX analyst Volkmar Baur notes. USD/JPY to continue trending sideways”For a brief moment, it seemed as if the opposition parties would be able to agree on a joint…

The EUR/USD pair extends its two-day downside move to near 1.1630 during the Asian trading session on Tuesday. The major currency pair faces selling pressure as the US Dollar (USD) gains on hopes that the ongoing United States (US) government shutdown will end this week.During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, extends its upside to near 98.70. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen. USDEURGBPJPYCADAUDNZDCHFUSD0.06%0.10%0.24%0.08%0.08%0.19%0.06%EUR-0.06%0.04%0.18%0.03%0.03%0.13%0.00%GBP-0.10%-0.04%0.12%-0.02%-0.01%0.09%-0.04%JPY-0.24%-0.18%-0.12%-0.17%-0.15%-0.05%-0.17%CAD-0.08%-0.03%0.02%0.17%0.00%0.12%-0.01%AUD-0.08%-0.03%0.01%0.15%-0.01%0.10%-0.04%NZD-0.19%-0.13%-0.09%0.05%-0.12%-0.10%-0.13%CHF-0.06%-0.00%0.04%0.17%0.01%0.04%0.13% The heat…

The dollar edged higher against the yen on Monday as investors shifted their focus to political developments in Japan and the euro area, while U.S. credit risk concerns lingered.The yen edged lower as hardline conservative Sanae Takaichi is almost certain to become Japan’s first female prime minister after a decisive parliamentary vote.Her expected premiership, backed by a new coalition with the right-wing Japan Innovation Party, has raised investor concerns over potential fiscal expansion, which could weigh on the yen.”Market participants will now be watching closely to see what fiscal plans are put together by the new coalition government,” said MUFG…

Gold price (XAU/USD) holds positive ground around $4,370 after reaching a fresh record high near $4,380 during the early Asian session on Tuesday. Traders continue to assess the developments surrounding the US government shutdown, prospects for further rate cuts by the Federal Reserve (Fed) and renewed US credit risks.The ongoing US federal government shutdown could boost the safe-haven flows, supporting the Gold price. The government shutdown has entered its 21th days with no end in sight, after senators failed for the 11th time to resolve the impasse in votes on Monday. The shutdown is now the third-longest funding lapse in modern history.Additionally, expectations…

The Euro (EUR) trades under modest pressure against the US Dollar (USD) on Monday, as the Greenback holds steady amid hopes of easing trade tensions between Washington and Beijing. At the time of writing, EUR/USD is trading flat above 1.1650. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is hovering around 98.50 after Friday’s rebound from two-week lows.European Central Bank (ECB) Executive Board member Isabel Schnabel struck a cautious tone on Monday, warning in a speech titled “How to Revive Growth in Europe” that the Eurozone has “fallen behind in…

The Reserve Bank of India sold a net of $7.7 billion in the spot foreign exchange market in August, data released on Monday showed, as the central bank looked to support the Indian rupee that fell 0.68% in the month.The RBI said in its monthly bulletin that it did not purchase any dollars and sold $7.7 billion. In July, the central bank had sold a net of $2.54 billion in the spot market.The Indian rupee fell 0.68% in August to 88.1950 against the US dollar, breaching the 88-per-dollar mark for the first time.The RBI’s net outstanding forward sales stood at…

Gold (XAU/USD) edges higher on Monday, recovering modestly after Friday’s steep decline from record highs near $4,380. At the time of writing, XAU/USD is trading around $4,280 during the European session, up over 0.50% on the day.The yellow metal saw its largest intraday drop since mid-May, sliding 1.76% as investors locked in profits following remarks from US President Donald Trump, who struck a softer tone on China. Trump said the US is “going to do fine with China,” adding that the threatened 100% tariffs on Chinese imports “aren’t sustainable,” which helped calm market nerves and triggered a rebound in the…

At the interbank foreign exchange, the rupee opened at 87.94 against the US dollar and traded in the range of 87.74-87.94 during the day before settling at 87.93 (provisional), higher by 9 paise against its previous close. The rupee rose 9 paise to close at 87.93 (provisional) against the US dollar on Monday, supported by foreign fund inflows and lower crude oil prices.Positive sentiments in the domestic equity markets lent further support to the local unit, according to forex traders.At the interbank foreign exchange, the rupee opened at 87.94 against the US dollar and traded in the range of 87.74-87.94…

The rupee rose 9 paise to close at 87.93 (provisional) against the US dollar on Monday, supported by foreign fund inflows and lower crude oil prices. Positive sentiments in the domestic equity markets lent further support to the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 87.94 against the US dollar and traded in the range of 87.74-87.94 during the day before settling at 87.93 (provisional), higher by 9 paise against its previous close.On Friday, the rupee closed at 88.02 against the US dollar. “The Reserve Bank of India ensured that the rupee…