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Gold (XAU/USD) trims its intraday losses on Thursday as traders reposition ahead of a heavy slate of US economic data due later in the American session. At the time of writing, XAU/USD trades around $4,827, recovering after a short-lived pullback below the $4,800 psychological level.Bullion came under brief selling pressure, retreating from the record high of $4,888 set on Wednesday, as global risk appetite improved after US President Donald Trump backed away from his threat to impose tariffs on several European countries linked to the Greenland dispute.However, traders are looking past the easing of immediate trade-war fears, as the broader…
Forex traders said comments from US President Donald Trump at Davos helped shift sentiment. The rupee rebounded marginally from its all-time low levels and gained 3 paise to close at 91.62 (provisional) against the US dollar on Thursday, on suspected RBI intervention and a positive trend in domestic equities.Forex traders said comments from US President Donald Trump at Davos helped shift sentiment, as he confirmed that a framework for a future Greenland agreement has been reached and that tariffs scheduled for February 1 would not be implemented.At the interbank foreign exchange, the rupee opened at 91.54 then gained ground to…
Euro (EUR) is likely to consolidate within a range of 1.1655/1.1720. In the longer run, risk for EUR remains on the upside; the probability of it breaking above 1.1805 is not high for now, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.Risk for EUR remains on the upside24-HOUR VIEW: “Following the strong surge in USD on Tuesday, we indicated yesterday that ‘the sharp rise seems excessive, and instead of continuing to rise, EUR is more likely to consolidate today, probably between 1.1690 and 1.1770’. The subsequent price movements did not unfold as expected. During the NY…
,The Reserve Bank of India has conducted more than $2 billion in FX swaps over the last two days to offset the drain in liquidity caused by spot dollar sales, four bankers said, suggesting a focus on containing currency pressures without exacerbating banking liquidity tightness.The central bank has stepped up spot market intervention amid equity outflows, higher demand linked to bullion imports and increased hedging pile up pressure on the rupee. The currency plunged 0.8% on Wednesday to an all-time low of 91.7425.Spot intervention drains rupee liquidity, an effect the RBI can counter through dollar/rupee buy-sell FX swaps, in which…
The Japanese Yen (JPY) touches a fresh weekly low against its American counterpart during the Asian session on Thursday amid a combination of negative factors. The global risk sentiment gets a strong lift in reaction to US President Donald Trump’s U-turn on Greenland and undermines demand for traditional safe-haven assets, including the JPY. Apart from this, the recent chaotic selloff in Japan’s bond markets, led by concerns about expansionary fiscal policy under Prime Minister Sanae Takaichi, keeps the JPY bulls on the sidelines.However, expectations that Japanese authorities would step in to stem further weakness in the domestic currency could act…
Gold price ( XAU/USD) trimmed gains to near $4,790 during the early Asian session on Thursday. The precious metal retreats from a record high of $4,888 after US President Donald Trump backs off the European tariff threat and announces a framework Greenland deal. Bloomberg reported on Wednesday that Trump said he would step back from imposing tariffs on goods from European nations opposing his effort to take possession of Greenland. He added that the United States and the North Atlantic Treaty Organization (NATO) had “formed the framework of a future deal with respect to Greenland.” Hopes for a solution in…
GBP/USD turns negative on the day following remarks by the US President Donald Trump in Davos who said that he would not use excessive force to get Greenland. At the time of writing, the pair traded at 1.3433, down 0.03%.Sterling edges lower as improving risk sentiment offsets hotter UK inflation and pressures the Dollar lessMarket sentiment improved following comments of Trump in Davos. Despite insisting on negotiating with Denmark, he refrained from using the tariffs word, used over the weekend when he imposed 10% duties over eight countries including Denmark.Economic data has taken the backseat over geopolitical issues, which so…
The last time the rupee saw a steep single-day fall was on November 21, 2025, when it plummeted 93 paise. The rupee crashed on Wednesday to close at an all-time low of 91.6950, weighed down by a host of factors including outflows due to FPI selling in the Indian equity markets, corporate demand, ripple impact of the EU’s push back against aggressive US stance to acquire Greenland, and continuing uncertainty on India’s tariff agreement with the US.The Indian currency slumped about 73 paise vs previous close of 90.97. Opening weaker at 91.10 per USD, the rupee tested an all- intraday…
The Indian rupee closed at its weakest level on record on Wednesday, amid risk aversion due to the US-Greenland dispute, unwinding of yen carry trades in the emerging markets, and a broad selloff from local stocks and bonds.The currency, which was Asia’s worst performing in 2025, weakened to an all-time intraday low of 91.74/$1, and later closed at an all-time low of 91.695/$1 on Wednesday.The rupee had closed at 90.97/$1 on the previous day. The central bank, which usually sells dollars to curb excess weakness in the rupee, stayed away and did not intervene, traders said.AgenciesThe rupee has already lost…
Since both the New Zealand Dollar (NZD) and the Australian Dollar (AUD) have links to commodities, historically they have been viewed as ‘risky’ currencies which tend to rally when growth prospects are strong and vice-versa, Rabobank’s FX analyst Jane Foley reports. Commodity exports cushion downside risk for AUD and NZD”The evolving and complex geopolitical backdrop has the potential to skew that relationship. In addition to its gold exports, Australia is a growing source for rare earths and both countries benefitted from solid food exports in 2025 – the latter potentially being subject to more inelastic demand than other commodities (dependent…