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New Zealand Dollar (NZD) could continue to edge lower, but it is unlikely to be able to break below 0.5700. In the longer run, NZD is under mild downward pressure, and could edge lower, potentially testing 0.5700, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. NZD is under mild downward pressure24-HOUR VIEW: “We expected NZD to ‘edge lower and test 0.5720’ last Friday. We added, ‘a break of this level is not ruled out, but based on the current momentum, any further decline is unlikely to reach 0.5700’. We were not wrong, as NZD edged to a…

The rupee extended its descent for the third straight day and settled five paise down at 88.75 (provisional) against the US dollar on Monday, near its all-time low level, weighed down by a strong American currency and foreign fund outflows. Forex traders said domestic equities ended on a positive note and supported the domestic unit at lower levels. At the interbank foreign exchange, the rupee opened at 88.73 and touched an intraday low of 88.80 against the greenback. The unit ended the session at 88.75 (provisional) against the dollar, logging a loss of 5 paise from its previous closing level.…

The Indian rupee is inching closer to a new low again, with the central bank’s recent interventions providing only a limited respite for Asia’s worst-performing currency this year. Uncertainty over tariffs on India’s exports to the US and a less certain path for Federal Reserve rate cuts are exerting pressure on the rupee, which fell for a third straight session on Monday to 88.7988 against the dollar. The currency has failed to hold on to its gains after the Reserve Bank of India unexpectedly sold large amounts of dollars last month to quell speculation against the rupee.The monetary authority has been…

Swiss Consumer Price Index (CPI) declined at a surprisingly faster pace of 0.3% on month in October against estimates of 0.1%. In September, inflationary pressures deflated by 0.2%.On year, Swiss inflation grew at a moderate pace of 0.1%. Economists expected CPI to have risen at a faster pace of 0.3% against the prior release of 0.2%.Market reactionThe initial reaction from the USD/CHF pair was positive after the Swiss CPI data release. The pair rose to 0.8060, but reversed to 0.8050. Swiss Franc Price Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today.…

The RBI’s net short position in maturities of up to one month rose to $16.5 billion in September, as against $5.9 billion in the previous month, according to central bank data. | Photo Credit: FRANCIS MASCARENHAS The Indian central bank’s short dollar book in the offshore derivatives market climbed in September for the first time in seven months, reflecting its efforts to stem the rupee losses. The Reserve Bank of India’s net short forward position — the amount of dollars it has agreed to sell in the future at a predetermined price — rose by $6 billion to $59.4 billion, according…

The rupee fell 7 paise to 88.77 against the dollar in early trade on Monday, weighed down by higher crude oil prices and continuous outflow of foreign capital amid uncertainties over global trade. According to forex traders, negative sentiment in domestic equities also pressured the Indian currency, even though a weak American currency provided some cushion at a lower level. At the interbank foreign exchange, the rupee opened at 88.73 and slipped further to trade at 88.77 against the greenback, down 7 paise from its previous closing level.The rupee had ended 1 paisa lower at 88.70 against the dollar on…

USD/CAD remains steady after two days of gains, trading around 1.4010 during the Asian hours on Monday. The pair struggles as the Canadian Dollar (CAD) gains ground on higher Oil prices. It is important to note that Canada is the largest crude exporter to the United States (US).West Texas Intermediate (WTI) Oil price holds gain around $61.00 per barrel at the time of writing. Crude Oil prices appreciate as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) signaled a pause in output increase. OPEC+ on Sunday said it planned to pause output increases in the first quarter…

The Indian rupee faces the risk of breaching its record low this week and may count on the central bank’s interventions to prevent that while government bond traders are also looking for continued backing from the central bank to contain yields. The rupee closed at 88.7650 against the U.S. dollar on Friday, down 1% week-on-week and hovering close to its all-time low of 88.80 hit in late-September. Interventions by the Reserve Bank of India helped cushion the rupee’s fall last week but traders say sentiment on the local currency is inclined towards further weakness. Merchant flows are skewed towards dollar…

US President Donald Trump said late Sunday that he’s not really considering giving Ukraine Tomahawk missiles.Key quotesNot really considering giving Ukraine Tomahawk missiles.‘Could be’ US troops on ground in Nigeria or air strikes.There is no final straw for Putin.Sometimes you have to let Russia-Ukraine get fought out.I don’t set deadlines on Venezuela.We have secret plans for Venezuela, lets see what happens.Will not attend Supreme Court tariff case arguments.Don’t want to do anything to deflect the importance of that decision.I meet with Nvidia’s Jensen Huang all the time.We don’t give Nvidia’s Blackwell chip to other people.Market reactionAt the time of writing, the West…

The Dow Jones Industrial Average (DJIA) is poised to end the trading week near where it started, with price action churning familiar territory around the 47,500 region. Despite the Federal Reserve (Fed) delivering a widely anticipated interest rate cut this week and the Dow posting a new all-time high just north of 48,000, equity markets remain overall unimpressed. Bullish momentum has been thin throughout the week, with disappointment at the Fed’s cautious rate-cutting tone offset by hopes that the latest reignition in trade tensions between the US and China will be tamped down by the Trump administration’s general unwillingness to…