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Gold price flat lines around $3,760 in Wednesday’s early Asian session.Traders still expect Fed rate cuts in October and December after Fed cut rates by 25 bps earlier this month.The US PCE inflation report for August will take center stage later on Friday. The Gold price (XAU/USD) holds steady near $3,760 after retreating from an all-time high of $3,791 during the early Asian session on Wednesday. Rising expectations of further US rate cuts and safe-haven flows provide some support to the precious metal.The US Federal Reserve (Fed) Chair Jerome Powell said on Tuesday that the central bank faces a “challenging situation” with…

The Indian currency (INR) plunged about 45 paise to close at 88.7550 per US dollar (USD) against the previous close of 88.3075 The rupee declined to close at an all-time low on Tuesday as the steep tariffs on Indian goods entering the US and increase in fees for H-1B visa applicants continued to weigh on it. The Indian currency (INR) plunged about 45 paise to close at 88.7550 per US dollar (USD) against the previous close of 88.3075. The central bank is believed to have intervened at the 88.50 level to ensure that the slide is gradual, say forex dealers.…

The Indian rupee has reached a record low of 88.80 against the dollar, influenced by the new $100,000 H-1B visa fee for applicants and imposing 50% tariffs on Indian goods in the US. The rupee hit an all-time low of 88.80 against the dollar on Tuesday before ending the session at 88.75. Despite the clarification that the H-1B visa fee is a one-time charge only for new applicants, it continued to weigh on the local currency.The one-time $1,00,000 levy on new H-1B applications can slow deployments for US clients. Not just that, dollar remittances to India, too, might be impacted.…

The rupee depreciated 47 paise to hit an all-time low of 88.75 (provisional) against the US dollar on Tuesday, amid sustained outflow of foreign funds on the back of a steep hike in US H-1B visa fee that is expected to give a big blow to Indian IT services exports. Forex traders said the rupee dwindled towards record low levels as market participants analysed the likely repercussions of the new $100,000 H-1B visa levy, which could precipitate a slowdown in remittance growth and curtail service exports to the US. Moreover, risk aversion in domestic markets may also pressurise the rupee,…

The New Zealand Dollar gives away Monday’s gains and returns below 0.5850.The US Dollar picks up from Monday´s lows ahead of the US flash PMIs and Fed Powell’s conference.Weak New Zealand data is boosting expectations of further RBNZ easing and weighing on the NZD.The New Zealand Dollar has given away Monday’s gains against the US Dollar, retreating from the 0.5870 area to levels right above two-week lows near 0.5840, weighed by a moderate US Dollar’s recovery, ahead of US PMI data and Fed Powell’s speech.The US Dollar took a breather on Monday after rallying more than 2% against the kiwi…

The economic activity in the Eurozone’s private sector expanded at a modest pace in early September, with the preliminary HCOB Composite Purchasing Managers’ Index (PMI) edging slightly higher to 51.2 from 51 n August.In this period, the HCOB Manufacturing PMI declined to 49.5 from 50.7, pointing to a contraction in the manufacturing sector, while the Services PMI improved to 51.4 from 50.5. Assessing the survey’s findings, “cost inflation in the services sector, which the European Central Bank watches closely, has eased slightly but remains unusually high given the fragile economic backdrop,” Dr. Cyrus de la Rubia, Chief Economist at Hamburg…

GBP/JPY tests its initial resistance at the nine-day EMA of 199.81.The 14-day Relative Strength Index remains above 50, strengthening the bullish bias.The primary support lies at the crucial level of 199.50.GBP/JPY extends its gains for the second successive session, trading around 199.70 during the European hours on Tuesday. The currency cross appreciates ahead of the United Kingdom’s (UK) S&P Global Purchasing Managers’ Index (PMI) data for September.A look at the daily chart suggested the GBP/JPY cross is remaining within an ascending channel pattern, suggesting the market bias is bullish. Additionally, the 14-day Relative Strength Index (RSI), a key momentum gauge,…

The rupee on Tuesday extended its losses and slumped 48 paise to hit an all-time low of 88.76 against the US dollar in afternoon trade, as markets digested the shockwaves from US President Donald Trump’s steep H-1B visa fee hike. Forex traders said H-1B visa fees hike sparked worries over remittances and potential equity outflows from India’s IT sector — a double hit for the currency, at a time when foreign inflows have already been weak this year. At the interbank foreign exchange, the rupee opened at 88.41, then lost further ground and touched an all-time intraday low of 88.76…

The rupee depreciated 25 paise to an all-time intraday low of 88.53 against the US dollar in early trade on Tuesday, as headwinds like enhanced US tariffs on Indian goods, as well as the US H-1B Visa fee hike, dented investor sentiments. Forex traders said that global risk aversion and trade policy uncertainty have also exacerbated the rupee’s depreciation. At the interbank foreign exchange, the rupee opened at 88.41, then lost further ground and touched an intraday low of 88.53 against the US dollar, registering a decline of 25 paise over its previous close. On Monday, the rupee depreciated by…

The USD/JPY outlook suggests some strength in the yen after Friday’s slightly hawkish BoJ policy meeting. Japan has to choose a new prime minister on October 4th. Traders will watch Fed policymakers’ remarks for more clues on rate cuts. The USD/JPY outlook suggests some strength in the yen after Friday’s slightly hawkish Bank of Japan policy meeting. Meanwhile, the dollar retreated at the start of a week when Fed policymakers will reveal their views on the economy and future policy moves. –Are you interested in learning more about MT5 brokers? Check our detailed guide- On Friday, the Bank of Japan…