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The Australian Dollar (AUD) advances against the US Dollar (USD) on Friday after two days of losses. The AUD/USD pair gains ground following the preliminary reading of Australia’s S&P Global Purchasing Managers Index (PMI).S&P Global Manufacturing PMI came in at 51.6 in November versus 49.7 prior. Meanwhile, Services PMI rose to 52.7 in November from the previous reading of 52.5, while the Composite PMI increased to 52.6 in November versus 52.1 prior.The AUD finds support as expectations grow for a cautious stance from the Reserve Bank of Australia (RBA). Minutes from the RBA’s November meeting indicated the central bank may…

Japan’s National Consumer Price Index (CPI) rose by 3.0% YoY in October, compared to the previous reading of 2.9%, according to the latest data released by the Japan Statistics Bureau on Friday.Further details unveil that the National CPI ex Fresh food arrived at 3.0% YoY in October versus 2.9% prior. The figure came in line with the market consensus.CPI ex Fresh Food, Energy rose 3.1% YoY in October, compared to the previous reading of 3.0%.Market reaction to Japan’s National CPI dataFollowing Japan’s CPI inflation data, the USD/JPY pair is down 0.09% on the day at 157.44.  Inflation FAQs Inflation measures the rise in the price of…

Gold (XAU/USD) trades a little changed on Thursday, moving in a tight range as traders digest the mixed set of delayed September US jobs data. At the time of writing, XAU/USD is trading around $4,080, easing after briefly climbing above the $4,100 psychological mark.The mood across markets has brightened after Nvidia delivered strong earnings, sparking a rebound in global equities and easing safe-haven flows into Gold. On top of that, a stronger US Dollar (USD) as investors scale back expectations of a December interest rate cut by the Federal Reserve (Fed) is adding pressure and limiting the metal’s upside.Markets saw…

The Pound remains bid against an ailing Japanese Yen on Thursday. The pair’s reversal from the fresh 16-month high, right above 206.00, has found support above the previous year-to-date high, in the 205.35 area, before returning to 205.75 at the time of writing.The Yen has sold off against its main rivals over the last few days, as investors’ concerns about a potential intervention by the Japanese authorities eased, and news reporting that the Prime Minister Sanae Takaichi would be preparing a large stimulus package.On Wednesday, the Japanese Finance Minister, Satsuki Katayama, affirmed that she did not discuss foreign exchange matters…

The Indian rupee closed slightly weaker on Thursday, pressured by broad-based strength in the dollar on a hawkish reassessment of policy easing by the Federal Reserve, while modest portfolio inflows helped limit the currency’s decline.The rupee closed at 88.7050 against the U.S. dollar, down about 0.1% on the day.The dollar index held above the 100-handle, while Asian currencies were down between 0.1% and 0.3% as traders scaled back wagers on a U.S. rate cut next month.Minutes from the Fed’s October policy meeting showed that many policymakers were opposed to a December rate cut, prompting a pullback in money market odds…

The rupee depreciated 23 paise to close at 88.71 (provisional) against the US dollar on Thursday, on broad strength of the American currency and fading odds of a rate cut by the US Federal Reserve. Forex traders said the dollar has staged a rally, moving above the 100 level, after the US Federal Reserve minutes indicated that most officials were opposed to a rate cut in December, following the October cut. At the interbank foreign exchange market, the rupee opened at 88.63, then lost ground, touching an intra-day low of 88.74. It also hit an intra-day high of 88.62 against…

The NZD/USD pair gains some positive traction on Thursday and recovers a part of the previous day’s heavy losses to the lowest level since April 9. Spot prices stick to intraday gains above the 0.5600 mark through the early European session, though a sustained US Dollar (USD) buying might cap the upside ahead of the delayed release of the US Nonfarm Payrolls (NFP) report for September.From a technical perspective, the recent downfall witnessed over the past two months or so along two converging trend lines constitutes the formation of a bullish falling wedge on the daily chart. That said, the…

 Positive cues from US-India trade developments, lower crude costs, and gains in domestic equities are gradually strengthening sentiment.  | Photo Credit: istock.com Forex traders said the dollar has staged a rally, moving above the 100 level, after the US Federal Reserve minutes indicated that most officials were opposed to a rate cut in December, following the October cutThe rupee depreciated by 18 paise to 88.66 against the US dollar on Thursday, as the US dollar’s recovery capped the domestic unit’s upside. Forex traders said the dollar has staged a rally, moving above the 100 level, after the US Federal Reserve…

istock photo for BL | Photo Credit: Dmitriy Razinkov The Indian Rupee may continue to weaken gradually and inch towards the psychological level of 90 per US dollar by March 2026, highlighted a report by Union Bank of India. According to the report, the movement in the currency will continue to be guided by both fundamental and technical factors. From a fundamental perspective, the bank expects the broader trend of depreciation to persist, taking the Rupee closer to the $90 mark over the next year. It stated “By March 2026, fundamentally, we continue to see USD/INR inching towards psychological threshold…

The Japanese Yen (JPY) continues with its relative underperformance against a broadly firmer US Dollar (USD) and drops to a fresh low since mid-January during the Asian session on Thursday. Investors remain concerned about Japan’s ailing fiscal position amid Prime Minister Sanae Takaichi’s new economic stimulus package. Moreover, data released earlier this week showed that Japan’s economy contracted in Q3 for the first time in six quarters, which could put additional pressure on the Bank of Japan (BoJ) to delay raising interest rates and continue to undermine the JPY.Apart from this, the risk-on impulse is seen as another factor denting…