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Silver (XAG/USD) trades little changed on Friday, hovering around $49 per ounce as investors digest the cautious message from the US Federal Reserve (Fed) and the recent diplomatic progress between the United States (US) and China.Fed Chair Jerome Powell’s measured tone during Wednesday’s press conference weighed on expectations for further interest rate cuts this year. Powell stated that an additional reduction in December was “not a foregone conclusion,” emphasizing that future policy decisions would depend on incoming economic data. According to the CME FedWatch tool, the chances of a 25-basis-point rate cut in December have fallen to around 67% from…

Gold (XAU/USD) treads water on Friday, struggling to extend Thursday’s advance as investors reassess the Federal Reserve’s (Fed) monetary policy outlook following this week’s interest rate cut. At the time of writing, XAU/USD is trading around $4,010, little changed on the day and poised for a second straight weekly loss.A firmer US Dollar (USD) and steady Treasury yields are capping upside attempts in Gold, as traders scale back expectations of another rate cut this year. In his post-meeting remarks, Fed Chair Jerome Powell downplayed the likelihood of a December rate cut, saying it was “not a foregone conclusion” and emphasizing…

The rupee pared intra-day losses to settle flat at 88.69 (provisional) against the American currency on Friday, as weak domestic equities and a firm US dollar in overseas markets offset the gains from lower crude oil prices.At the interbank foreign exchange market, the rupee opened at 88.60 and touched a high of 88.59 and a low of 88.78 against the greenback during the session. The local unit finally settled at 88.69 (provisional), unchanged from its previous closing level.On Thursday, the rupee crashed 47 paise to settle at 88.69 against the US dollar after the US Federal Reserve Chair Jerome Powell…

The Indian rupee fell on Friday but managed to hold above its all-time low on the back of intermittent dollar sales by state-run banks that also helped the currency end the month on a quiet note.The rupee had rallied to a peak of 87.6250 earlier this month following heavy-handed intervention by the central bank, but has since shed those gains to once again hover close to its record low of 88.80, hit in late-September.The currency ended Friday’s session slightly lower at 88.7650 and was little changed month-on-month.India’s benchmark equity indexes, the BSE Sensex and Nifty 50, were both down 0.4%…

European Central Bank (ECB) policymaker and Governor of Central Bank of Latvia, Martins Kazaks, said during European trading session that risks to inflation and growth in the Eurozone are more balanced.Additional commentsECB will move when needed but shouldn’t be jumpy.Risks to inflation and growth are more balanced.Market reactionEUR/USD trades with caution near the two-week low around 1.1560, posted on Thursday, during European trading hours. Euro FAQs The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it…

Gold (XAU/USD) attracts some sellers following an Asian session uptick to the $4,046 area and, for now, seems to have stalled this week’s recovery from its lowest level since October 6. The US Dollar (USD) preserves its strong gains registered over the past two days, to a nearly three-month top, in the wake of the US Federal Reserve’s (Fed) hawkish tilt, which, in turn, is seen undermining the non-yielding yellow metal.Apart from this, the latest optimism over a de-escalation of trade tensions between the US and China – the world’s two largest economies – turns out to be another factor…

The rupee showed some recovery and traded 5 paise higher at 88.64 against the dollar in early trade on Friday, tracking lower crude oil prices and weaker American currency.According to forex traders, the outflow of foreign funds amid selling pressure in the equity markets prevented a sharp gain in the domestic unit.At the interbank foreign exchange, the rupee opened at 88.60 rose slightly to 88.59 before trading at 88.64 against the greenback, up 5 paise from its previous close.On Thursday, the rupee had crashed 47 paise to settle at 88.69 against the US dollar after the US Federal Reserve reduced…

GBP/USD fell again on Thursday, grinding down toward the 1.3100 handle and tipping into six month lows at 1.3116. The Pound Sterling (GBP) continues to shed weight against the US Dollar (USD), and is down over 2% against the Greenback through the month of October alone.Cable has declined for all but one of the last ten straight trading days, plummeting from a half-hearted swing high into 1.3450 and is now knocking on the 1.3100 handle. GBP/USD has fallen below the 200-day Exponential Moving Average (EMA) near 1.3275, setting up Pound sellers for a continued backslide.The Federal Reserve (Fed) cut interest…

AUD/USD weakens on Thursday to around 0.6550 at the time of writing, down 0.40% for the day. The pair is weighed down by a rebound in the US Dollar (USD) following a positive meeting on Thursday between US President Donald Trump and Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea.The two leaders agreed to a one-year trade truce that includes reducing US tariffs on Chinese imports from 57% to 47%, as well as China’s commitment to resume US soybean purchases and allow the free export of rare earths to the United…

EUR/USD is giving away previous gains and returns to levels near the 1.1600 area at the time of writing, from session highs at 1.1635. Markets remain cautious ahead of the European Central Bank’s (ECB) monetary policy decision, which leaves the pair treading water despite the good news from the Sino-US trade deal and better-than-expected Eurozone Gross Domestic Product (GDP) figures.Eurozone’s preliminary GDP data revealed that the economy accelerated to 0.2% in the third quarter, beating expectations of a 0.1% growth. Apart from that, the economic sentiment has improved beyond expectations, with confidence in the industrial and services sectors’ activity also…