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The EUR/JPY cross gains traction near 180.40 during the Asian trading hours on Monday. The Japanese Yen (JPY) softens against the Euro (EUR) amid fiscal concerns and the Bank of Japan (BoJ) rate hike uncertainty. Nonetheless, intervention fears might cap the downside for the JPY. Japan’s Tokyo Consumer Price Index (CPI) report for November will be published later on Friday. Reuters reported on Friday that Japan’s Prime Minister Sanae Takaichi approved a 21.3 trillion yen ($135.4 billion) economic stimulus package. The package contains 17.7 trillion yen in general account outlays, which exceeds the previous year’s 13.9 trillion yen and represents the largest stimulus…

Swiss National Bank (SNB) President Martin Schlegel said that consumer-price growth in Switzerland is expected to accelerate a bit, Bloomberg reported on Saturday.Key quotesInflation in our country is within the range of price stability — so between 0 and 2%. It is currently at the lower end of this range.Our monetary policy is currently expansionary, which means it supports inflation.And if necessary, we’ll adapt our policy, because price stability is our priority.Uncertainty is poison for the economy.Market reactionAt the time of writing, the USD/CHF pair is trading 0.16% higher on the day to trade at 0.8090. SNB FAQs The Swiss National Bank (SNB)…

EUR/USD posts moderate losses during the North American session on Friday as the US Dollar (USD) holds firm after the release of mixed economic data and dovish comments by Federal Reserve (Fed) officials. The pair trades at 1.1504, down 0.20%, after hitting a two-week low of 1.1491.Euro retreats 0.20% as weak US sentiment contrasts with firmer PMIs, markets rise December cut oddsData in the US was mixed, yet the economy shows signs of resilience. The S&P Global Manufacturing and Services PMIs were mixed in November but revealed that business confidence had improved.Other data showed that American households turned pessimistic about…

The Dow Jones Industrial Average (DJIA) caught a healthy rebound on Friday, climbing over 700 points to round out an otherwise bearish trading week. Key Federal Reserve (Fed) officials sounded more willing to deliver an upcoming interest rate cut than rate markets previously expected, bolstering investor sentiment across the board, and the Trump administration is rumored to be weighing another walkback on arbitrary tech trade restrictions aimed at China.Despite Friday upswing, indexes still on the defensiveDespite an upbeat Friday session, the Dow is still in the red for the week, down 1.33% from the previous week’s close and mired in…

The Japanese Yen (JPY) strengthens against the US Dollar (USD) on Friday, with USD/JPY snapping a four-day winning streak after fresh verbal intervention warnings from Tokyo prompted mild profit-taking. At the time of writing, the pair is trading around 156.54, easing modestly from Thursday’s near ten-month high around 157.89, though it remains on track to secure a second consecutive weekly advance.Japan’s Ministry of Finance reiterated that authorities are ready to act against excessive currency moves, signalling rising discomfort with the pace of Yen depreciation. The warnings come as the Yen hovers near levels where Tokyo intervened in the past. At…

Gold (XAU/USD) remains steady during the North American session on Friday as a Federal Reserve (Fed) officials opened the door for a cut at the December meeting. At the time of writing, XAU/USD trades at $4,096, up by 0.53%, after hitting a daily high of $4,101.XAU/USD edges higher despite mixed US data, sharply shifting rate cut expectationsBullion has remained fluctuating during the last three days, as traders seem undecided on XAU’s next move. Speeches by Fed officials and the resumption of US economic data hint that the economy is solid, with a resilient labor market but elevated prices.Comments from New…

West Texas Intermediate (WTI) US Oil trades around $57.60 on Friday at the time of writing, down 1.90% on the day. The Crude Oil extends its three-day losing streak, slipping below the $58.00 level as investors reassess geopolitical risks in Eastern Europe amid signs that a potential peace agreement in Ukraine may be taking shape.According to multiple media reports, Ukrainian President Volodymyr Zelensky has agreed to work on a US-backed proposal that includes territorial concessions to Russia and a reduction of Ukraine’s armed forces. These points, considered unacceptable just months ago, fuel expectations that a compromise could emerge faster than…

Mumbai: The rupee hit its weakest level on record, depreciating past the psychologically significant 89 per dollar mark for the first time on Friday, before closing at 89.49. The rupee weakened nearly 80 paise from its previous close, and recorded an intraday low of 89.59 on Friday, LSEG data showed.Among the factors cited by traders were the absence of central bank intervention, delays in a trade deal with the US, a short squeeze on the currency and a high trade deficit number. The rupee is among the weakest performers in major Asian currencies this year, down 4.5% year-to-date.The fall, which…

The Euro (EUR) remains under pressure against the US Dollar (USD) on Friday, even as the Greenback trades broadly flat, with traders weighing fresh US economic data and rising bets on a potential Federal Reserve (Fed) interest rate cut in December. At the time of writing, EUR/USD is trading around 1.1500, on track for its first weekly decline after two consecutive weeks of gains. Meanwhile, the US Dollar Index (DXY), which measures the Greenback against a basket of six major currencies, is trading near 100.26, holding firm around its highest level in more than five months.S&P Global’s preliminary US Purchasing…

The Pound Sterling turns positive in the day as traders increase their bets that the Federal Reserve could cut rates at the December meeting. The GBP/USD trades at 1.3082 up 0.08%.Sterling turns positive as improved US sentiment and dovish Fed voices lift December rate-cut expectationsThe US economic docket revealed that business activity in the US remained solid according to S&P Global. The Manufacturing PMI dipped from 52.5 to 51.9, slightly below the 52 estimates Conversely, the Services PMI improved from 54.6 to 54.8, above forecasts of 54.5. Comments of the survey showed that business confidence has improved, and that hopes…