Author: admin

CHENNAI: 22/07/2025: A view of the US Doller…..Photo: SRINATH M/ THE HINDU | Photo Credit: SRINATH M India’s forex reserves jumped by $4.49 billion week-on-week to $702.28 billion as on October 17, primarily led by sharp rise in gold reserves, according to data released by the Reserve Bank of India. Foreign currency assets (FCA) — which include investment in securities, deposits with other central banks and the BIS, and deposits with commercial banks overseas — stood at $570.41 billion, down $1.69 billion compared to last week. During the week ended October 17, the RBI bought gold amounting to $6.18 billion, taking the…

EUR/USD remains trading within previous ranges, unable to find acceptance above 1.1620, despite the upbeat German and Eurozone business activity figures released earlier on Friday. The pair changes hands at 1.1615, at the time of writing, practically unchanged on daily charts, with all eyes on the US Consumer Price Index (CPI) release, due later on the day.Eurozone’s HCOB Purchasing Managers Index (PMI) data revealed an unexpected expansion of the manufacturing sector’s activity in October and a stronger-than-expected growth in the Services sector, which has shown the strongest activity in the last 12 months. These figures improve the outlook of the…

The rupee appreciated 10 paise to close at 87.78 (provisional) against the US dollar on Friday, supported by optimism around India-US trade talks and a decline in global crude oil prices.However, FII outflows, a stronger dollar against foreign currencies, and a weak sentiment in the domestic equity markets restricted sharp gains in the local unit, according to forex traders.At the interbank foreign exchange, the rupee opened at 87.78 against the US dollar and traded in the range of 87.63-87.85 before settling at 87.78 (provisional), up 10 paise from its previous close.The rupee appreciated 5 paise to close at 87.88 against…

The Indian rupee climbed to a two-month high on Thursday, supported by likely inflows and the lingering impact of the Reserve Bank of India’s persistent dollar offers near the 88 level.The rupee rose to 87.6350 per dollar, its highest since late August, before dipping back to near 87.70.While state-run banks were seen selling dollars, traders reckoned the flows were not on behalf of the RBI. The central bank’s recent defence near 88, however, has continued to anchor sentiment and dampen volatility, they said.”The flow mix today, it would seem, is more friendly for the rupee,” said a dealer at a…

The overall business activity in the Eurozone’s private sector has unexpectedly expanded at a faster pace in October. The Composite PMI has landed at 52.2, while it was expected to come in lower at 51.0 from 51.2 in September.The Services PMI jumped to 52.6 from estimates of 51.1 and the prior reading of 51.3. Meanwhile, the manufacturing sector activity has managed to return to the expansion territory after contracting in September. The Manufacturing PMI comes in at 50.0, higher than estimates of 49.5 and the former release of 49.8. A figure below the 50.0 threshold is considered a contraction in…

The rupee rose 9 paise to 87.79 against the dollar in early trade on Friday, bolstered by a drop in global crude oil prices and optimism around an India-US trade deal. However, FII outflows prevented sharper gains, forex traders said. At the interbank foreign exchange, the rupee opened at 87.78 against the US dollar before dropping marginally to 87.79, down 9 paise from its previous close.The rupee appreciated 5 paise to close at 87.88 against the US dollar on Thursday. “The Reserve Bank of India was again present at 87.95 yesterday (Thursday), ensuring that the rupee does not cross 88.00…

The Australian Dollar (AUD) steadies against the US Dollar (USD) after the release of the preliminary S&P Global Purchasing Managers Index (PMI) on Friday. Traders await key quarterly inflation data for Australia next week that could shape the Reserve Bank of Australia’s (RBA) policy outlook.The preliminary Australia’s S&P Global Manufacturing Purchasing Managers Index (PMI) fell to 49.7 in October from 51.4 prior. Meanwhile, Services PMI rose to 53.1 in October from the previous reading of 52.4, while the Composite PMI increased to 52.6 in October against 52.4 prior.RBA Governor Michele Bullock spoke in Sydney but made no comments on monetary…

The GBP/JPY extended its gains on Thursday, ending up 0.19% at around 203.30, up so far in the week close to 0.55%. At the time of writing, as Friday’s Asian session begins, the cross-pair trades at 203.36 virtually unchanged.GBP/JPY Price Forecast: Technical outlookFrom a technical standpoint, the GBP/JPY remains subdued after dropping to a nine-day low of 200.68, in October 17. Nevertheless, the pair has recovered some ground, and it seems poised to test higher prices.The Relative Strength Index (RSI) shows that buyers are gathering momentum as the RSI is bullish.With that said, the first resistance would be 203.50. If…

GBP/USD retreats on Thursday, down over 0.21% after the latest inflation report in the United Kingdom (UK) increased the odds for a Bank of England (BoE) rate cut by the end of the year. At the time of writing, the pair trades at 1.3326 after reaching a high of 1.3360.Sterling weakens as traders turn cautious ahead of Friday’s key US CPI releaseA scarce economic docket in the US and the UK keeps traders waiting for Friday’s US Consumer Price Index (CPI) report, with estimates of headline and core inflation at 3.1%. In the meantime, Existing Home Sales in the US…

The Pound Sterling (GBP) drops slightly to near 1.3340 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair edges down after comments from Bank of England (BoE) Monetary Policy Committee (MPC) member Swati Dhingra signaling that United States (US) tariffs could put downward pressure on prices in the United Kingdom (UK) economy.”Tariffs mean lower overall growth and some downward pressure on prices in the medium term,” Dhingra said in her prepared remarks at Ireland’s central bank on Thursday.The outlook for the British currency has become uncertain as traders have raised bets supporting more interest…