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European Central Bank Governing Council member Jose Luis Escriva said on Wednesday,, “we need to be agile and ready to move in any direction on monetary policy.”Further commentsEven if out central scenario is materialising, that doesn’t mean the uncertainty elements have been erased.Disinflation has been a success.The situation was complex two or three years ago.The current interest rate at 2% seem reasonable to us.Risks to inflation are balanced and slightly negative for growth.Market reactionEUR/USD maintains its corrective downside following these comments, losing 0.19% so far at 1.1843. ECB FAQs The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank…

The Indian Rupee jumps to near 87.90 against the US Dollar as both the US and India signal optimism on a trade deal.US President Trump appreciated Indian PM Modi’s efforts to end the Russia-Ukraine war.Investors are certain that the Fed will cut interest rates on Wednesday.The Indian Rupee (INR) extends its upside against the US Dollar (USD) for the fourth trading day in a row on Wednesday. The USD/INR pair posts a fresh two-week high around 87.90 as the Indian Rupee strengthens, following signals from United States (US) President Donald Trump and India’s Prime Minister Narendra Modi that they will…

The Pound Sterling remains firm against its peers despite the UK core and service CPI cooling down in August.Investors expect the BoE to hold interest rates steady on Thursday.The Fed is nearly certain to cut interest rates at 18:00 GMT.The Pound Sterling (GBP) clings to Tuesday’s gains near 1.3640 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair holds onto gains as the US Dollar remains on the back foot amid firm expectations that the Federal Reserve (Fed) will cut interest rates in the monetary policy announcement at 18:00 GMT.At the time of writing,…

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 96.73, higher by 0.11 per cent. | Photo Credit: istock.com The rupee appreciated 28 paise to 87.81 against the US dollar in early trade on Wednesday, tracking the broad decline in the greenback amid hopes of a US Fed rate cut.Forex traders said investors are closely following the FED Reserve’s policy meeting as dollar softness globally is triggering rupee strength. The market is expecting a 25-bps rate cut, and investors will watch out for the Fed Chair’s speech for further guidance. At the…

The dollar fell across the board on Tuesday, sinking to four-year low against the euro, as investors firmed bets for a Federal Reserve interest rate cut this week. The euro was 0.5% higher at $1.827, its highest since September 2021. The U.S. dollar index, which tracks the U.S. currency against a basket of six major rivals, was 0.6% lower at 96.787, its lowest since July 3. The buck, which had steadied in recent months following a significant drop earlier in the year, has come under renewed selling pressure as expectations have risen for the Fed to resume cutting interest rates…

Gold extends its record-breaking rally and marks a fresh ATH near $3,703.A broadly weak US Dollar and subdued Treasury yields keep the metal well supported ahead of Wednesday’s Fed decision.US Retail Sales rose 0.6% MoM in August, sharply beating expectations of a 0.2% increase.Gold (XAU/USD) marked a fresh all-time high around $3,703 on Tuesday after consolidating just below that level for most of the day. At the time of writing, the XAU/USD is easing modestly to trade around $3,687 but remains close to record territory. A broadly weak US Dollar (USD) and subdued Treasury yields continue to underpin the rally,…

Gold (XAU/USD) extended its rally in the second half of the day on Tuesday and reached a new record-high above $3,700.The broad-based selling pressure surrounding the US Dollar (USD) helps XAU/USD continue to push higher as investors gear up for the Federal Reserve’s (Fed) monetary policy announcements on Wednesday.Gold daily chartAlthough markets widely expect the Fed to cut the policy rate by 25 basis points (bps), the revised Summary of Economic Projections and the voting pattern within the Federal Open Market Committee (FOMC) could hint at dovish voices growing louder.Senate Republicans confirmed on Monday White House economic adviser Stephen Miran…

USD/CAD extends losses for the second day, trading near its lowest level since September 1.Canada’s headline CPI rose to 1.9% YoY in August, while core inflation held steady at 2.6%.US Dollar remains under pressure despite upbeat Retail Sales and Industrial Production data.The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Tuesday, with USD/CAD extending losses for the second straight day and dropping to its lowest level since September 1. At the time of writing, the pair is trading around 1.3744, down nearly 0.25% on the day, as traders looked past the domestic Consumer Price Index (CPI) report and…

The rupee appreciated 8 paise to close at 88.08 (provisional) against the US dollar on Tuesday, tracking US-India talks on the proposed trade agreement to iron out issues in the wake of steep Trump Tariffs.Forex traders said the rupee strengthened on positive domestic markets and a weak greenback, which is trading at a two-month low ahead of the two-day FOMC meeting commencing Tuesday and disappointing US economic data.At the interbank foreign exchange, the rupee opened at 88.05, then touched an intraday low of 88.16 and a high of 88.01 against the greenback. The domestic unit closed at 88.08 (provisional), a…

The USD/CAD outlook suggests resilience in Canada’s manufacturing sector. Canada’s factory sales expanded by 2.5% compared to the forecast of 1.8%. The Fed will likely cut rates by 25-bps. The USD/CAD outlook suggests resilience in Canada’s manufacturing sector despite tariff uncertainty. As a result, the Canadian dollar has rallied since the previous session despite expectations for a BoC rate cut on Wednesday. Meanwhile, the dollar remained weak ahead of the Fed meeting. –Are you interested in learning more about ETF brokers? Check our detailed guide- Data on Monday revealed that Canada’s factory sales expanded by 2.5% compared to the forecast…