Author: admin
The USD/CHF pair retreats on Friday during the North American session, down 0.53% as the Greenback weakens following a dismal jobs report, and a break to four day low beneath the 0.7800 figure. At the time of writing, the pair trades at 0.7771, yet it remains to end the week with gains of more than 1%.USD/CHF Price Forecast: Technical outlookThe technical picture shows USD/CHF remaining downward biased as the pair failed to clear 0.7800, opening the door for further downside. Momentum has begun to shift slightly negatively, as depicted by the Relative Strength Index (RSI), about to clear its neutral…
Beth Hammack, President of the Federal Reserve (Fed) Bank of Cleveland, said that inflation is too high, adding that inflationary pressures are broad-based at the United States (US) Monetary Policy Forum in New York City on Friday.Key quotes:Inflation is ‘too high,’ pressures are broad based.Fed rate policy likely on hold for quite some time.Fed policy is in good position to navigate inflation, job challenges.Remains committed to meeting Fed’s job, inflation mandates.Inflation problem is broader than just tariffs.It would take a lot to dethrone dollar’s global role.Not hearing from contacts notable move away from dollar.Stablecoins could bolster demand for dollar.Euro still…
OCBC strategists Sim Moh Siong and Christopher Wong report that USD/MYR is consolidating near recent highs after an early-week run-up, supported by broader USD strength and soggy risk sentiment. Geopolitical headlines around Iran and energy markets are seen as key drivers. They warn that further escalation could trigger risk-off flows, weakening high-beta Asian FX including MYR, with clear resistance and support levels outlined.High-beta MYR vulnerable to risk-off flows”USD/MYR. Consolidation near recent highs. USD/MYR consolidated this week after the run-up in early week. Combination of USD strength, soggy risk sentiments weighed on Asian FX, including MYR.””For now, geopolitical headlines dominate and…
The Middle East crisis has escalated into an all-out war after the US and Israel assassinated the Supreme Leader of Iran on February 28. Iran not only targeted Israel but also attacked United States (US) military bases around the Persian Gulf. The Strait of Hormuz has been blocked by Iranian forces, cutting off Asia’s primary source of oil. As demand for safety skyrocketed, the biggest beneficiary was not who you are guessing; it was the Greenback, which took investors’ focus away from the bright metal as the US Dollar Index (DXY) traded around the 99.70 price region during the week,…
Silver (XAG/USD) trades modestly higher on Friday as the US Dollar (USD) and Treasury yields ease following softer-than-expected US Nonfarm Payrolls (NFP) data. Despite the intraday bounce, the white metal remains on track for its first weekly decline in three weeks.At the time of writing, XAG/USD is trading around $84.27, up nearly 2.73% on the day after rebounding from a daily low near $80.17.Meanwhile, the escalating US-Iran conflict continues to offer some underlying support to safe-haven assets, helping limit deeper losses in Silver.However, rising Oil prices driven by supply disruptions through the Strait of Hormuz are fueling global inflation concerns.…
Rupee closed the week ended March 6 (Friday), 2027, at 91.74 per US dollar. The rupee saw a see-saw movement during the week amid the West Asia conflict, spike in crude oil prices and FPI-related outflows from the domestic equity markets, plunging to a record closing low of 92.15 per US dollar on March 4 and making a smart recovery to 91.60 the next day on heavy RBI intervention.The Indian currency closed the week ended March 6, , at 91.74 per US dollar, down 77 paise as compared with the previous Friday’s close of 90.97. It touched an all-time intraday…
USD/JPY rises and challenges the 158.00 figure on Friday, up over 0.20% after the latest US employment report signaled weakness in the labor market. Also, the Middle East conflict deteriorates market mood, maintaining the US Dollar (USD) bid during the week.US Dollar holds firm on risk aversion even as NFP miss boosts Fed cut betsFebruary’s Nonfarm Payrolls print was worse than expected as the US economy slashed 92K jobs in the month, missing estimates of a creation of 59K jobs. At the same time, the Unemployment Rate rose from 4.3% to 4.4%, a tenth below the Federal Reserve’s 4.5% projected…
India’s foreign exchange reserves rose by $4.885 billion to a record $728.494 billion in the week ended February 27, according to data released by the Reserve Bank of India. India’s forex reserves jumped USD 4.885 billion to an all-time high of USD 728.494 billion during the week ended February 27, the Reserve Bank said on Friday.In the previous reporting week, the overall reserves had dropped USD 2.119 billion to USD 723.608 billion. The previous all time high for the kitty was USD 725.727 billion during the week ended February 13 this year.For the week ended February 27, foreign currency assets,…
OCBC strategists Sim Moh Siong and Christopher Wong highlight that recent US labour data and escalating Middle East tensions are supporting the Dollar. Stabilising jobless claims and sharply lower Challenger layoffs precede a key payrolls release that could shift the Federal Reserve toward a more symmetric stance. A stronger-than-expected jobs report is seen as potentially alleviating US growth concerns and underpinning USD strength.Jobs data and energy shock support USD”While geopolitics has dominated market attention, recent US data also point toward potential USD upside. Challenger job cuts fell 72% YoY to 48.3k in February, with the 12-month moving average easing to…
Traders said the RBI intervened across multiple currency markets, including spot, forwards, futures and non-deliverable forwards | Photo Credit: ANUSHREE FADNAVIS India’s central bank has mounted an aggressive defence of the rupee this week, deploying an estimated $12 billion to contain the fallout from an escalating West Asia war that has pummelled markets and pushed the Asian currency to an all-time low, according to seven bankers.The figure is the median of estimates bankers shared with Reuters, with the projections ranging from $9 billion to more than $15 billion.The scale of the intervention underscores the challenge the Reserve Bank of India…