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The rupee rose 5 paise to close at 90.67 (provisional) against the US dollar on Wednesday driven by inflow of foreign funds and positive domestic equity markets. However, higher global crude oil prices and a strengthening greenback capped sharp gains in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 90.60 against the US dollar and traded in a narrow range of 90.60-90.71 before settling at 90.67 (provisional), higher by 5 paise against its previous close. The rupee gained 2 paise to settle at 90.72 against the US dollar on Tuesday. “The rupee remained…
The Pound (GBP) has been little moved following a string of UK inflation figures for January and remains trading right above 208.00 against the Japanese Yen (JPY), with the two-month lows of 207.22 at a short distance.UK Consumer Price Index (CPI) released earlier on Wednesday has shown a significant decline in inflation, providing some leeway for the Bank of England (BoE), to ease its monetary policy further. Headline inflation contracted 0.5% in January, reversing a 0.4% advance in December, while yearly inflation eased to 3.0% from 3.4% in the previous month, figures in line with the market consensus.UK retail prices…
The rupee rose 5 paise to 90.67 against the US dollar on Wednesday on the back of a drop in global crude oil prices and FII inflows. However, a stronger greenback and a weak start to day at the domestic equity markets capped sharp gains in the local unit, forex traders said. At the interbank foreign exchange, rupee opened at 90.60 but lost some ground to trade at 90.67 against the US dollar, higher by 5 paise from its previous close. The rupee gained 2 paise to settle at 90.72 against the US dollar on Tuesday. “The RBI sold dollars…
The NZD/USD pair is down 0.7% to near 0.6000 during the Asian trading session on Wednesday, following the monetary policy announcement by the Reserve Bank of New Zealand (RBNZ).The New Zealand Dollar (NZD) has come under severe pressure as RBNZ Governor Anna Breman pushes back hopes of interest rate hikes in the near term in her remarks at the debut press conference after leaving the Official Cash Rate (OCR) unchanged at 2.25%, as expected.“Not planning to hike until we see a stronger economy, more inflationary pressure,” Breman said, and added, “There is possibility of rate hike by end of year.” Her…
Brown Brothers Harriman’s (BBH) Global Head of Markets Strategy Elias Haddad anticipates the Philippine central bank will cut rates by 25 bps to 4.25%, likely marking the end of its easing cycle after 200 bps of reductions since mid‑2024. Swaps markets mostly price this final move, while still-positive real rates are viewed as supportive for the Philippine Peso’s (PHP) uptrend.End of easing but Peso supported”Philippine central bank (BSP) is expected to cut rates 25bps to 4.25% (Thursday). At its last December meeting, BSP cut rates 25bps to 4.50% and noted that “the Monetary Board sees the monetary policy easing cycle…
Gold (XAU/USD) trades on the back foot on Tuesday as holiday-thinned volumes weigh on sentiment. At the time of writing, XAU/USD is trading at $4,863 near two-week lows, down 2.50 % on the day.Liquidity remains light as Lunar New Year holidays keep China and several Asian markets closed, with Chinese markets set to reopen only next Tuesday. Trading volumes are likely to pick up in the American session as traders return from the long weekend after US markets were shut on Monday for Presidents’ Day.The metal is also facing pressure from a firmer US Dollar (USD) and a rebound in…
ING’s Frantisek Taborsky expects the National Bank of Romania to keep rates at 6.50%, with inflation still high but projected to ease mid-year. He looks for dovish signals in the new forecast, anticipating the first rate cut in May and 100bp of easing in 2026, while EUR/RON is seen staying broadly stable near 5.09–5.10 before a modest year-end rise to 5.150.Rates on hold as EUR/RON stays rangebound”The National Bank of Romania is likely to leave rates unchanged at 6.50% today. The central bank has been holding rates steady since August 2024 after the presidential election brought significant volatility to the…
The rupee gained 5 paise to settle at 90.69 (provisional) against the US dollar on Tuesday, backed by positive domestic equity markets and lower crude prices overseas. Sustained outflow of foreign funds and a firm American currency, however, weighed on the Indian currency and capped its gains, forex traders said. In the interbank foreign exchange market, the rupee opened at 90.72 against the US dollar and moved in a tight range, touching a high of 90.64 and a low of 90.78 in intraday deals. The unit finally ended the session at 90.69 (provisional) against the greenback, registering a gain of…
The Indian rupee ended Tuesday little changed, as intermittent intervention by the Reserve Bank of India slowed the currency’s drift toward the psychologically important 91-per-dollar mark.Tepid global risk sentiment and steady hedging demand from importers have kept the currency tilted lower, even after it recovered from near-record lows around 92 following the announcement of the India-U.S. trade deal earlier this month.The rupee closed at 90.6725 per dollar on the day, nearly unchanged from its close at 90.65 on Monday.The currency lumbered in a narrow band through the day and was pulled in opposite directions by persistent interbank dollar demand and…
Gold (XAU/USD) attracts some follow-through selling for the second straight day and dives to over a one-week low, around the $4,858 area, heading into the European session on Tuesday. The commodity, however, bounces back above the $4,900 mark as traders opt to await more cues about the US Federal Reserve’s (Fed) rate-cut path before placing fresh directional bets.Hence, the focus will remain glued to the release of the FOMC Minutes on Wednesday. Moreover, the US Personal Consumption Expenditure (PCE) Price Index, due on Friday, will play a key role in influencing the near-term US Dollar (USD) price dynamics. This, in…