Author: admin

The Indian rupee breached the 88 mark against the US dollar this week, sparking concerns about further depreciation and volatility in the currency market. However, a report by domestic brokerage firm YES Securities suggests that the latest weakness in the rupee is being driven more by short-term sentiment than by any major deterioration in India’s economic fundamentals.The brokerage highlighted that “Indian Rupee’s slide past the 88-mark has largely reflected tariff-driven sentiment rather than a deterioration in India’s underlying fundamentals, suggesting limited room for further depreciation.”Also Read | Mutual fund SIP stoppage ratio rises to 75% in AugustYES Securities pointed out…

The rupee depreciated 5 paise to 88.16 against the US dollar in early trade on Thursday, as market participants are keenly awaiting cues from the trade talks between India and the US.Forex traders said the rupee held its ground supported in part by renewed talk of an India-US trade deal and the rupee is expected to trade within a narrow band of 87.50-88.40 in the near term.At the interbank foreign exchange market, the rupee opened at 88.11, then lost ground and touched an early low of 88.16 against the US dollar, registering a decline of 5 paise over its previous…

The Australian and New Zealand dollars paused near fresh peaks on Thursday as investors globally awaited a reading on U.S. inflation, while breaks of major chart resistance provided technical momentum for further gains. A tame reading on U.S. producer prices reinforced wagers it would take a shockingly high consumer price number to stop the Federal Reserve from cutting rates next week given a clear slowdown in the labour market. Markets, in contrast, see little chance the Reserve Bank of Australia will ease at its meeting this month following a run of solid domestic data. The probability of a quarter-point rate…

Gold steady near $3,650, close to its record high after near $3,675 seen on Tuesday.US PPI fell 0.1% MoM in August, after a downwardly revised 0.7% gain in July and below forecasts of a 0.3% increase.Technicals continue to show a strong bullish structure, with immediate support at $3,617 followed by $3,556.Gold (XAU/USD) clings to gains on Wednesday after a sharp reversal the previous day, with the metal soaring to an all-time high near $3,675 before retreating to settle at $3,625. At the time of writing, XAU/USD is trading near $3,655, up about 0.80% on the day, extending gains after softer-than-expected…

Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), declined to 2.6% on a yearly basis in August from 3.3% in July, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in below the market expectation of 3.3%. On a monthly basis, the PPI declined by 0.1% following the 0.7% increase (revised from 0.9%) recorded in July.Other details of the report showed that the core PPI, which excludes food and energy prices, declined by 0.1% on a monthly basis. The core PPI increased 2.8% on a yearly basis…

The Euro extends its decline against the British Pound for a second straight day.Traders stay cautious ahead of the ECB monetary policy decision on Thursday.Political unrest in France and NATO consultations after Poland’s airspace breach weigh on Euro sentiment.The Euro (EUR) extends its decline against the British Pound (GBP) for a second consecutive day on Wednesday, with the EUR/GBP cross hovering near 0.8643 at the time of writing. The pair is showing some stabilization after briefly touching its lowest level since August 29 earlier in the European session. Investors are reluctant to take big positions ahead of the European Central…

The Euro hovers around 1.1700 after retreating from 1.1780 highs following reports of Russian drones in Poland’s airspace.The US Dollar Index bounces from lows as the focus shifts to US inflation figures.In Europe, the ECB is widely expected to leave interest rates unchanged on Thursday.The EUR/USD has been wavering around 1.1700 during most of Wednesday’s European session, with investors cautious amid news of frictions between Poland and Russia, and waiting on US inflation releases for a better assessment of the Federal Reserve’s (Fed) monetary easing pace.Earlier in the day, news reporting that Poland shot down drones, allegedly Russian, near its…

The Pound Sterling rises against its main currency peers as the market sentiment remains favorable for riskier assets.The UK economy is expected to have stagnated in July.Investors await key US PPI and CPI data for August.The Pound Sterling (GBP) trades higher against its major currency peers, except antipodeans, on Wednesday. The British currency demonstrates strength as the market sentiment remains upbeat amid firm expectations that the Federal Reserve (Fed) will cut interest rates next week.On the domestic data front, investors await the UK Gross Domestic Product (GDP) and the factory data for July, scheduled for Friday. Monthly GDP growth in…

The Indian rupee closed unchanged on Wednesday as tariff-related uncertainties continued to dominate the Asian currency’s price action following mixed signals from U.S. President Donald Trump regarding recent bilateral trade tensions. The rupee ended little changed on Wednesday to 88.1000 against Tuesday’s close of 88.1025. The local currency’s recent movement has largely been dictated by the ongoing trade tensions between India and the United States, traders said. The U.S. has already imposed punitive tariffs on Indian goods of up to 50% – among the steepest levies on any American trading partner.Late on Tuesday, Trump said on Truth Social that Washington…

US Dollar Index weakened as disappointing revised job growth figures fueled rising Fed rate cut expectations.US Nonfarm employment for March 2025 for March 2025 will likely be revised down by 911,000.CME FedWatch tool suggests a pricing of more than 93% of a 25-basis-point Fed rate cut in September.The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is treading water below 98.00 during the Asian hours on Wednesday. The Greenback is poised to struggle as traders widely expect a rate cut by the US Federal Reserve (Fed) in September, driven by the…