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Silver remains bid on US Dollar weakness, at 4-year highs, near $47.00.Investors’ concern about a US Government shutdown has given an additional boost to precious metals.XAG/USD is at extremely overbought levels after rallying about 7% over the last three days.Silver (XAG/USD) continues to rise on Monday. The white metal appreciates by about 1.8% on the day, and trades as the US Dollar and US Treasury yields retreat, with investors taking positions ahead of the $46.95, after having hit fresh multi-year highs at $47.18 in the early European trading session.Precious metals are thriving on Monday, as the US Dollar and US…
The Indian Rupee falls marginally against the US Dollar ahead of the RBI’s monetary policy announcement on Wednesday.Investors are divided on whether the RBI will cut interest rates or hold them steady.The US Dollar is under pressure amid the risks of a US government shutdown.The Indian Rupee (INR) declines against the US Dollar (USD) during late trading hours on Monday. The USD/INR rises to near 89.00, even as the US Dollar extends its correction, suggesting weakness in the Indian Rupee.The Indian currency faces selling pressure amid caution ahead of the monetary policy announcement by the Reserve Bank of India (RBI)…
EUR/GBP softens to around 0.8720 in Monday’s early European session. BoE’s Greene warned of upside inflation risks.Persistent conflict between Russia and Ukraine could weigh on the EUR against the GBP. The EUR/GBP cross loses momentum to near 0.8720 during the early European session on Monday. The expectation that the Bank of England (BoE) is unlikely to cut the interest rates in the near term provides some support to the Pound Sterling (GBP) against the Euro (EUR). Germany’s Retail Sales for August and UK Gross Domestic Product (GDP) data for the second quarter (Q2) will be highlights later on Tuesday. Traders expect the UK central bank…
FX option expiries for Sept 29 NY cut at 10:00 Eastern Time via DTCC can be found below. Source
MumbaiRupee rises 3 paise to 88.69 against the US dollar in early trade on Monday, tracking positive Asian currencies and weakness of the American currency in the overseas market. Forex traders said the rupee is trading in a tight range as it remains under pressure influenced by continued capital outflows and geo-political developments.Moreover, the RBI policy meeting outcome on October 1, is expected to influence the rupee and government bond movements.At the interbank foreign exchange market the rupee opened at 88.69 against the US dollar, registering a gain of 3 paise from its previous close. On Friday, the rupee rebounded…
The Indian rupee and government bonds will take cues from the Reserve Bank of India’s policy decision this week, while the currency is also likely to rely on the central bank intervention for support as it grapples with persistent headwinds. The rupee closed at 88.7175 on Friday, touching a record low of 88.7975 per dollar earlier in the week. It was down 0.7% week-on-week, bogged down by concerns over a hit to trade and portfolio flows into India on the back of steep U.S. tariffs and tighter immigration policy. “It is almost as if the currency has been caught in…
Core PCE inflation remains under 3%, boosting the probability of Fed rate cuts to nearly 90% into year-end.Dovish Fed voices highlight a fragile labor market, and Barkin warns that inflation and unemployment trends remain concerning.Euro steadies despite NATO–Russia tensions, with traders eyeing US jobs data and upcoming Eurozone inflation prints.EUR/USD recovers on Friday as traders’ confidence rises that the Federal Reserve (Fed) will reduce interest rates after the release of the latest inflation report in the United States (US). At the time of writing, the pair trades at 1.1697, up 0.27%.Euro eyes 1.1700 as softer US inflation fuels confidence in…
The Canadian Dollar clamped down on bearish momentum on Friday.Despite cooling downside momentum, the Loonie still tapped 18-week lows against the US Dollar.The Canadian Dollar is now on the weak side of key moving averages against the Greenback.The Canadian Dollar (CAD) slowed its pace of losses against the US Dollar (USD) on Friday, but still remains firmly on the low side, testing 18-week intraday lows before battling back against the tide of Greenback pressure to cap off a week of sustained losses.Canadian Gross Domestic Product (GDP) growth rebounded in July, helping to provide some thin support for the Loonie on…
Australian Dollar regains ground as the US Dollar softens after in-line PCE data and weaker consumer sentiment.Focus turns to the RBA’s monetary policy decision on Tuesday, with markets expecting rates to stay unchanged at 3.60%.US labor market data back in focus with NFP due on Friday.The Australian Dollar (AUD) gains ground on Friday as the US Dollar (USD) loses momentum after Personal Consumption Expenditures (PCE) inflation figures came broadly in line with forecasts, while weaker consumer sentiment and renewed tariff worries dampened demand for the Greenback.At the time of writing, AUD/USD is trading around 0.6550, recovering modestly after a sharp…
The Dow Jones rebounded over 350 points on Friday, climbing back above 46,000.Fed rate cut expectations are still on track after PCE inflation met market forecasts.Despite a coolish print, inflation continues to hold on the wrong side of the Fed’s 2% annual target.The Dow Jones Industrial Average (DJIA) rebounded on Friday, paring away the midweek’s losses and recovering footing as investors self-soothe over odds of a follow-up interest rate cut in October. US Personal Consumption Expenditures Price Index (PCE) inflation came in about where median market forecasts predicted, keeping market hopes for an October rate trim on the high side.Inflation…