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The Indian Rupee fell to near 88.40 against the US Dollar following the US announcement of a one-time fee on H-1B visa applicants.India’s Commerce Minister Goyal is scheduled to visit Washington for trade talks on Monday.Fed’s Daly stated that the interest rate cut was aimed at bolstering the slowing US labor market.The Indian Rupee (INR) trades lower against the US Dollar (USD) at the start of the week. The USD/INR pair rises to near 88.40 as the announcement of the one-time hefty $1,00,000 fee on new applicants for H-1B visas by the United States (US) has raised concerns over the…

The Euro accelerates its recovery and approaches 1.1800 after bouncing at 1.1730.ECB and Fed officials are expected to provide further details about the banks’ monetary policies.Fed Chair Jerome Powell is expected to speak on Tuesday and might set the USD’s near-term direction.EUR/USD has attracted some buyers to snap a three-day losing streak on Monday. The pair is trading at 1.1765 at the time of writing after bouncing from 1.1730 lows. The pair has broken a three-day losing streak as the US Dollar retreated ahead of a slew of Fed speakers. In Europe, ECB officials and the preliminary Consumer Confidence data…

Here is what you need to know on Monday, September 22:Gold builds on its bullish action to end the previous week and trades at a new record-high above $3,700 on Monday. In the absence of high-impact data releases, investors will pay close attention to comments from policymakers of major central banks on Monday. Following a three-day rally, the US Dollar (USD) holds steady in the European morning on Monday, with the USD Index moving sideways above 97.50. The Federal Reserve’s (Fed) cautious tone on further policy easing and upbeat data releases from the US seen in the second half of…

Silver price reached a new 14-year high of $43.77 on Monday.The safe-haven Silver attracts buyers amid rising geopolitical tensions in Europe and the Middle East.Poland’s NATO-aligned armed forces deployed aircraft to ensure the safety of Polish airspace after Russian airstrikes.Silver price (XAG/USD) extends its gains to mark fresh 14-year highs, trading around $43.50 per troy ounce during the European hours on Monday. The price of the precious metals, including Silver, gained ground amid rising safe-haven demand, driven by the geopolitical tensions in Europe and the Middle East.Russia launched airstrikes targeting western Ukraine near the border with Poland, prompting Poland’s NATO-aligned…

New Zealand Dollar rebound finds resistance at 0.5860 and dips to fresh lows below 0.5845.The US Dollar maintains its firm tone ahead of a slew of Fed speakers.Weak New Zealand’s macroeconomic figures are limiting the Kiwi’s upside attempts. New Zealand Dollar’s attempt to bounce up from two-week lows at 0.5845, seen during the early Asian session, has been capped at 0.5860, and the pair retreated again ahead of the European session opening, returning to 0.5950.Looking at it in perspective, the pair remains vulnerable after having depreciated nearly 2.5% after last week’s knee-jerk reaction. Earlier today, the People’s Bank of China…

The rupee witnessed range-bound trading in morning deals on Monday and depreciated 5 paise to 88.21 against the US dollar, as the strength of the American currency in the overseas market and a negative trend in domestic equities weighed on investor sentiments. Forex traders said the recent hike in H-1B visa fees to $100,000 per year could trigger a sensitivity move in the IT sector, as companies may face margin pressure and reduced remittances due to the potential slowdown in employee deployments to the US. At the interbank foreign exchange market, the rupee opened at 88.20, then lost ground and…

The Indian rupee is expected to remain under pressure this week as investors gauge the impact of a steep levy on U.S. work visas heavily used by Indian immigrants, while government bonds will react to developments on the second-half fiscal borrowing plan. The rupee closed at 88.09 on Friday, up 0.2% on the week. The Trump administration said on Friday it would ask companies to pay $100,000 per year for H-1B worker visas.India accounts for 71% of the beneficiaries of such visas and the fees, according to India’s IT industry body, could disrupt the global operations of Indian technology services…

US Dollar bounces from three-year lows after Fed cut, supported by rising US Treasury yields late in the week.Fed officials Daly and Kashkari offered cautious tones, while Miran reaffirmed his preference for deeper easing.French spending cut protests pressure Macron’s new PM, adding political headwinds for the Euro.EUR/USD edges lower on Friday, late in the North American session, as the Greenback recovers after bouncing off three-year lows reached in the aftermath of the Federal Reserve’s (Fed) interest rate cut. Political turmoil in France amid higher US Treasury yields boosted the US Dollar, sending the pair lower.EUR/USD falls as Fed speakers, higher…

AUD/USD extends losses for a third day, set for first weekly decline in four weeks.The Australian Dollar weakens as the Fed-driven US Dollar rebound and soft jobs data weigh on the Aussie.Fed Governor Stephen Miran advocates deeper cuts, signaling internal divergence on future policy directionThe Australian Dollar (AUD) trades on the back foot against the US Dollar (USD) on Friday, with AUD/USD extending its decline for the third straight day. The pair is set to end the week in negative territory for the first time in four weeks, as the Greenback’s post-Fed recovery continues to sap demand for risk-sensitive currencies.At…

Federal Reserve (Fed) Bank of San Francisco President Mary C. Daly noted late on Friday that the Fed’s move to cut rates was to try and bolster a weakening labor market, noting a pointed softening of the US economy over the past year.The comments come at a time when the Fed is facing not only additional scrutiny from the rate-cut-hungry Trump administration, but also questioning looks from markets about the Fed’s political independence. Stephen Miran was confirmed by US Congress for his seat at the Fed’s voting table just this week and sworn in an hour before the Fed’s latest…