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Dollar index, which gauges the greenback’s strength against a basket of six currencies, increased 0.34 per cent to 98.13 | Photo Credit: Andrii Yalanskyi The rupee fell 4 paise to close at 88.78 (provisional) against the US dollar on Tuesday, weighed down by a strong American currency overseas and unabated foreign capital outflows.The domestic currency traded in a tight range as investors preferred to remain on the sidelines amid uncertainties over global trade, forex traders said.At the interbank foreign exchange market, the rupee opened with a marginal gain at 88.72 against the US dollar and touched the intra-day low of…

The USD/CAD outlook stays positive near 1.3950 amid cautious sentiment.  The dollar stays pressured due to the ongoing US government shutdown and dovish Fed rate cuts.  The Canadian dollar strengthens due to stable oil prices and a balanced BoC Outlook.   The USD/CAD outlook maintains a positive stance as the pair holds near 1.3950, signaling minimal market volatility as traders witness the current US government shutdown. The markets are also affected by the ongoing Federal Reserve rate expectations and the forthcoming Canadian employment figures. Traders remain sidelined in the subdued markets, awaiting monetary policy signals.  –Are you interested to learn more…

Rebound in Pound Sterling (GBP) has scope to extend but is unlikely to break clearly above 1.3525. In the longer run, GBP is expected to continue range-trading; a narrower range of 1.3400/1.3525 is likely sufficient to contain price movements, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. GBP is expected to continue range-trading24-HOUR VIEW: “Yesterday, we held the view that GBP ‘may continue to decline toward 1.3400.’ However, we pointed out that ‘based on the current momentum, a clear break below this level appears unlikely.’ The subsequent price movements did not turn out as expected, as after…

 The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 97.86, higher by 0.06 per cent. | Photo Credit: istock.com Rupee fell 1 paisa to 88.75 against the US dollar in early trade on Tuesday amid a strong American currency and uncertainties looming over the India-US trade deal. According to forex traders, the Indian currency is under pressure due to unabated outflow of foreign capital and geopolitical developments. At the interbank foreign exchange market, the rupee opened slightly higher at 88.72 against the US dollar, but soon lost ground to trade at 88.75,…

The Indian rupee held in a tight band on Monday, staying just above its record low as likely intervention by the Reserve Bank of India helped stave off pressure stemming from local importers’ steady dollar demand. The rupee closed at 88.78 against the U.S. dollar, nearly flat on the day and in touching distance of its record low of 88.80 hit last week. Several traders said that state-run banks were spotted offering dollars through much of the session, most likely on behalf of the RBI.The RBI “has been present near these levels and seems to be protecting it firmly for…

The Euro has extended its reversal from Friday’s highs at 0.8730 to levels below the 0.8690 support area. Reports that French Prime Minister Sébastien Lecornu has resigned are causing the Euro to drop across the board, bringing the pair closer to the 0.8665 support area.News reporting that the recently appointed French Prime Minister, Sebastien Lecornu, has resigned has boosted negative pressure on an already weak Euro. Lecornu is the fifth Prime Minister appointed by President Macron in the last two years, and his resignation leaves the country in an uncertain political scenario, amid a serious fiscal crisis.EUR/GBP approaches a key…

The AUD/USD pair struggles to extend its upside above the key resistance of 0.6615 during the European trading session on Monday. Earlier in the day, the Aussie pair recovered sharply after a weak opening near 0.6585.The pair faces slight selling pressure as the safe-haven demand of the US Dollar (USD) increases sharply amid political uncertainty in France. France’s new Prime Minister Sebastien Lecornu announces resignation after appointing his cabinet.During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, surges 0.8% to near 98.45.On the domestic front, Washington faces the risk of mass…

The Pound Sterling (GBP) trades 0.4% lower to near 1.3420 against the US Dollar (USD) during the European trading session on Monday. The GBP/USD pair faces selling pressure as the US Dollar rebounds strongly despite growing risks that the White House would be forced to make mass lay-offs in the wake of a partial United States (US) government shutdown.The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, gains 0.55% to near 98.25.Over the weekend, the White House signaled that mass lay-offs of federal workers are around the corner as the short-term funding bill is unlikely…

The Eurozone Sentix Investor Confidence Index rose to -5.4  in October following September’s -9.2, the latest survey showed on Monday.The Current Situation sub-index improved to -16 in October from -18.8 a month prior.Meanwhile, the Expectations gauge jumped to 5.8 in the same period from September’s 0.8.Sentix said: “Without sustainable improvements in the framework conditions and with only armaments, it will be difficult to kick-start an upturn.”Market reaction to the Eurozone Sentix dataEUR/USD holds heavy losses after the dismal Eurozone data. As of writing, EUR/USD is trading 0.65% lower on the day at 1.1665. Euro Price Today The table below shows the percentage change of Euro…

European Central Bank (ECB) Chief Economist Philip Lane said on Monday that they will remain attentive to shifts in the risk distribution when taking interest rate decisions, per Reuters.”An increase in the likelihood or intensity of downside risk factors would strengthen the case that a slightly-lower policy rate might better protect the medium-term inflation target,” Lane explained while speaking at an event in Frankfurt.Key takeaways”While recent trade agreements have reduced uncertainty somewhat, the overall impact of the change in the global policy environment will only become clear over time.””A persistent movement in the Euro on average has a multi-year impact…