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The Pound Sterling surrenders some of its early gains after the monetary policy announcement by the BoE.The BoE held interest rates steady at 4%, with a 7-2 vote split.Investors await key US Initial Jobless Claims data for the week ending September 12.The Pound Sterling (GBP) faces selling pressure against its major peers on Thursday after the Bank of England’s (BoE) monetary policy announcement. The BoE has held interest rates steady at 4%, as expected, with a 7-2 majority.The BoE was widely anticipated to keep borrowing rates steady as inflationary pressures in the United Kingdom (UK) remain elevated, with the latest…

The US Dollar might struggle to extend gains above 1.3800 amid the positive market sentiment.The Canadian Dollar remains vulnerable following rate cuts by the Fed and the BoC.USD/CAD is correcting higher from a key support area above 1.3720.The US Dollar is trading higher against the Canadian Dollar amid broad-based Greenback strength as investors digest recent rate cuts by the Fed and the BoC. The pair, however, might find resistance at 1.3800 as the moderate risk appetite weighs on the safe-haven USD.The Federal Reserve cut rates by 25 basis points and hinted at further easing on Wednesday. Fed Chairman Powell, however,…

The Indian Rupee trades lower against the US Dollar after a four-day winning streak.The Fed reduced interest rates by 25 bps to 4.00%-4.25% and signaled two more this year.FIIs continue to sell equities in the Indian stock market.The Indian Rupee (INR) fails to extend the four-day winning streak against the US Dollar (USD) on Thursday. The USD/INR recovers strongly to near 88.30 as the US Dollar (USD) gains ground in the aftermath of the monetary policy announcement by the Federal Reserve (Fed) on Wednesday.At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six…

The rupee depreciated 16 paise to 88.01 against the US dollar in early trade on Thursday, as traders assessed the US FED outlook following a rate cut. The US FED reduced rates by a quarter point as expected and indicated that it will steadily lower borrowing costs for the rest of the year. At the interbank foreign exchange market, the rupee opened at 87.93, then lost ground and touched an early low of 88.01 against the US dollar, registering a decline of 16 paise over its previous close. On Wednesday, the rupee appreciated 24 paise to close at 87.85 against…

The Indian rupee’s recent recovery may run out of steam on Thursday on the back of a decline in Asian peers after the Federal Reserve delivered a muddled message.The Fed’s dot plot signalled dovishness, while parts of Fed Chair Jerome Powell’s remarks were read as hawkish by some analysts.The 1-month non-deliverable forward indicated the rupee will open in the 87.88-87.92 range versus the U.S. dollar, compared with 87.8150 in the previous session.The Fed delivered a 25-basis-point cut, while the dot plot projected two more reductions this year, matching what markets had largely priced in before the meeting. The policy statement…

The rupee has seen a smart turnaround after it hit an all time closing low of 88.4425 on September 11 | Photo Credit: pixelfusion3d The rupee posted its biggest single day gain in almost a month on Wednesday, buoyed by expectations that the US Fed will re-start its rate cut cycle and positive sentiment around ongoing trade tariff negotiations between India and the US.The currency (INR) closed about 24 paise stronger at 87.8150 per US Dollar (USD) against previous close of 88.05. Intraday, it touched a high of 87.71 per USD. The rupee has seen a smart turnaround after it…

The USD/CAD forecast indicates a brief rebound in the pair ahead of policy meetings. US retail sales rose by 0.6%, well above the estimate of a 0.2% increase. Data from Canada showed that inflation eased by 0.1%. The USD/CAD forecast indicates a brief rebound in the pair ahead of central bank meetings in Canada and the US. The recovery came after downbeat inflation figures from Canada and upbeat retail sales numbers from the US. –Are you interested in learning more about ETF brokers? Check our detailed guide- The dollar recovered slightly against the Canadian dollar on Tuesday after data revealed…

The rupee appreciated 25 paise to close at 87.84 (provisional) against US dollar on Wednesday, tracking a positive trend in domestic equities and supported by optimism over US–India trade negotiations. Forex traders said the Indian rupee strengthened for the fourth consecutive session on Wednesday and rose to the highest level in two and a half weeks on broad weakness of the American currency amid hopes of a US Fed rate cut. They said investors are closely following the Federal Reserve’s policy decision as dollar softness globally is triggering rupee’s strength. The market is expecting a 25-bps rate cut, and investors…

Silver price plummets to near $41.70 ahead of the Fed and BoC’s monetary policy announcement.Both the Fed and the BoC are expected to cut interest rates.Investors will also focus on the Fed’s dot plot and Summary of Economic Projections.Silver price (XAG/USD) is down almost 2% to near $41.70 during the European trading session on Wednesday. The white metal dives swiftly ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.The Fed is nearly certain to cut interest rates in its policy meeting as risks to the United States (US) labor market have increased and the impact of tariffs…

NZD/USD may target its initial barrier at 0.6000, followed by the ascending channel’s upper boundary around 0.6010.The market sentiment remains bullish as the 14-day RSI stays firmly above the 50 mark.The primary support lies at the nine-day EMA of 0.5951.NZD/USD depreciates after two days of gains, trading around 0.5970 during the European hours on Wednesday. The technical analysis of the daily chart indicates a strengthening bullish bias, as the pair moves upwards within the ascending channel pattern.The short-term price momentum is stronger as the NZD/USD pair is positioned above the nine-day Exponential Moving Average (EMA). Additionally, the bullish bias strengthens…