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The rupee depreciated 9 paise to 88.77 against the US dollar in early trade on Tuesday, weighed down by the broad strength of the American currency in the overseas market. Forex traders said the optimism surrounding the India-US trade talks was negated by foreign fund outflows amid a risk-off tone globally. Moreover, the Reserve Bank of India is monitoring the depreciation of the USDINR pair towards 88.80, they said. At the interbank foreign exchange market, the rupee opened at 88.73, and slipped to 88.77 against the greenback, registering a fall of 9 paise from its previous close. On Monday, the…

West Texas Intermediate (WTI) Oil price gains ground for the second successive session, trading around $59.30 per barrel during the Asian hours on Tuesday. Crude Oil prices receive support from easing United States (US)-China trade tensions.US President Trump softened his stance on China, signaling openness to a deal just days after threatening 100% tariffs. Additionally, US Treasury Secretary Scott Bessent said Monday that President Trump remains committed to meeting China’s President Xi Jinping in South Korea this month to ease tensions over tariffs and export controls.Oil prices also draw support from increasing caution regarding Ukraine-Russia tensions after President Trump shared…

Gold price (XAU/USD) jumps to a fresh record high near $4,130 during the early Asian session on Tuesday. The precious metal extends the rally as renewed US-China trade tensions send investors flocking to safe-haven assets. The Federal Reserve’s (Fed) Chair Jerome Powell is scheduled to speak later on Tuesday.Escalating trade tensions between the US and China reignited fears of a trade war between the world’s two largest economies, boosting safe-haven assets like the Gold price. US President Donald Trump announced on Friday that he will impose new trade measures against Beijing, including 100% tariffs on all Chinese goods and export…

Gold price continues to print record highs, and it passed the $4,100 milestone on Monday during the North American session, as the US-China trade war escalated last week, boosting the safe-haven appeal of Bullion. XAU/USD trades at $4,095, up nearly 2% at the time of writing.Bullion extends record-breaking rally amid tariff threats, central bank demand and ongoing US government shutdownGeopolitics plays a significant role in setting Gold prices, along with central bank buying. Last week, US President Trump threatened to impose 100% duties on China’s goods as retaliation for China’s rare earth metals export controls. Nevertheless, Trump backpedaled as he…

The Brazilian Real (BRL) remains under mild pressure as USD/BRL holds above 5.27, with technical signals pointing to further upside while support at 5.37 stays intact, Société Générale’s FX analysts note. USD/BRL turns constructive above 5.37 support”USD/BRL formed an interim low near 5.27 last month resulting in a short-term bounce. It has crossed a multi-month descending trend line. Daily MACD has been posting positive divergence highlighting receding downward momentum.” “If a short-term pullback develops, graphical levels near 5.37 may provide support. Defence of this may lead to continuation in rebound. The next hurdles are located at the 200-DMA near 5.63…

closeup view of a man counting Indian currency istock photo for BL | Photo Credit: iStockphoto Rupee has barely budged over the past three weeks, prompting some traders to speculate that the central bank is once again tightening its grip on the currency.The one-month volatility in the dollar-rupee pair has crashed to the year’s lowest level this month. The currency has been stuck in a narrow range, struggling to break past the 89-per-dollar mark after hitting fresh lows.The Reserve Bank of India has built up short dollar positions of at least $15 billion in the non-deliverable forwards market over the…

The rupee appreciated five paise to close at 88.67 (provisional) against the US dollar on Monday, supported by suspected RBI intervention and fresh foreign fund inflows.Forex traders said the domestic unit faced some resistance as renewed trade war tensions between the US and China led to risk aversion in global markets.At the interbank foreign exchange, the rupee opened at 88.75 and traded in the range of 88.57-88.79 before settling at 88.67 (provisional), registering a rise of 5 paise than its previous close.On Friday, the rupee appreciated seven paise to close at 88.72 against the US dollar.The US threatened an additional…

The Indian rupee came within a whisker of its all-time low on Monday but managed to hold above it on likely intervention by the central bank, with news of the Indian trade delegation’s visit to the U.S. also offering modest relief. The rupee closed at 88.67 against the U.S. dollar, nearly unchanged from its close of 88.6850 in the previous session. The local unit touched a low of 88.7925 earlier in the session but likely dollar-selling intervention by the Reserve Bank of India, via state-run lenders, helped it avert a fall below its record low of 88.80.In the latter half…

The rupee is down 3.6% so far this year, making it the worst-performing currency in Asia | Photo Credit: Andrii Yalanskyi;iStockphoto India’s rupee has barely budged over the past three weeks, prompting some traders to speculate that the central bank is once again tightening its grip on the currency.The one-month volatility in the dollar-rupee pair has crashed to the year’s lowest level this month. The currency has been stuck in a narrow range, struggling to break past the 89-per-dollar mark after hitting fresh lows.The Reserve Bank of India has built up short dollar positions of at least $15 billion in…

NZD/USD extends its losses for the fifth successive session, trading around 0.5740 during the early European hours on Monday. The daily chart’s technical analysis signals a potential bullish reversal as the pair price moves ahead in the descending wedge pattern. A continuation within the descending wedge suggests that volume typically declines, showing waning momentum in the bearish trend.The 14-day Relative Strength Index (RSI) is positioned slightly below the 30 mark, suggesting a bearish bias is active. Although the NZD/USD pair could recover from the oversold territory. Further movements will likely offer a clear directional trend. Additionally, the short-term price momentum…