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The Australian Dollar trims losses recovering from a five-day low as the US Dollar’s intraday momentum fades.US ISM manufacturing PMI signals contraction, with rising prices paid underscoring sticky cost pressures.Focus shifts to Wednesday’s Australian data, with Q2 GDP, AiG Industry Index, and S&P Global PMIs set to guide AUD sentiment and RBA outlook.The Australian Dollar (AUD) trims some of its earlier losses against the US Dollar (USD) on Tuesday, recovering from a five-day low as the Greenback loses momentum after its broad intraday rally. The modest pullback in the AUD/USD pair also reflects trader repositioning ahead of Australia’s Q2 Gross…

The Dow Jones declined heading into the first American market session of September.Renewed broad-market bond, government financing, and inflation concerns weigh on investors.US Manufacturing PMI figures showed a sixth straight month below 50 as tariffs weigh on companies.The Dow Jones Industrial Average (DJIA) shed around 550 points on Tuesday, with American markets returning from a long weekend with renewed selling pressure. Rising bond yields, government funding concerns, and fresh inflation concerns pummel investor sentiment through the overnight session. US markets flubbed an attempt to right the equities ship after Institute for Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) figures…

XAU/USD rallies over 2% after clearing April’s peak and setting a new record high at $3,530.Safe-haven demand surges amid Fed independence fears, US policy uncertainty and higher Gold ETF inflows.Mixed US PMI data deepens risk-off tone, with focus shifting to Friday’s pivotal Nonfarm Payrolls release.Gold prices soar to a new all-time high past the $3,500 figure on Tuesday, rallying more than 2% even though the US Dollar advances and US Treasury yields rise. Risk aversion dominates, despite forecasts of a potential Federal Reserve (Fed) rate cut in September. XAU/USD trades above the $3,520 figure, after bouncing off daily lows of…

The US Dollar (USD) regained sudden buying interest and advanced to multi-day highs on Tuesday as investors continued to factor in a couple of interest rate cuts by the Federal Reserve in the latter part of the year.Here’s what to watch on Wednesday, September 3:The US Dollar Index (DXY) snapped a five-day negative streak on Tuesday, propped up by a decent rebound in US yields across the curve. The usual weekly MBA Mortgage Applications are due prior to the JOLTs Job Openings, Factory Orders, the Fed Beige Book, and the API’s weekly report on US crude oil inventories. In addition,…

The rupee declined 8 paise to close at an all-time low of 88.18 (provisional) against the US dollar on Tuesday, as Indo-US trade deal uncertainty and weak domestic equity markets pressurised the local unit.Forex traders said the rupee is trading near all-time low levels as risks remained skewed to the downside amid uncertainty over US trade tariffs.Moreover, persistent foreign fund outflows or dollar strength could drive further weakness, they added. On Monday, the rupee revisited its all-time intra-day low of 88.33 against the American currency.At the interbank foreign exchange market, the rupee opened weak at 88.14 against the US dollar,…

The Indian rupee ended marginally higher on Tuesday, but came off the day’s high, as importer demand for the greenback wiped out recovery witnessed earlier in the session. The currency ended at 88.1550, marginally up 0.05% from Monday’s close of 88.1950. It hit an intraday high of 87.8450 before declining past the 88-mark later in the day. “After the initial losses, there has been some strong demand from oil importers pushing the (USD/INR) pair higher,” trader with a state-run bank said.The rupee had dropped to a lifetime low of 88.33 on Monday after moving past the 88-mark for the first…

XAU/USD climbs 0.87% to $3,476 as quiet US session fuels momentum toward record levels.Traders price in 85% chance of September Fed cut despite inflation stubbornly above target at 2.9% YoY.Fed independence doubts and tariff uncertainty boost safe-haven appeal, with Nonfarm Payrolls now in focus.Gold rises above $3,450 and may challenge the $3,500 record on Monday, as US markets are quiet for Labor Day. Concerns regarding the Federal Reserve’s (Fed) independence and ongoing uncertainty about the trade war have kept the US Dollar subdued and increased flows toward the precious metals sector. At the time of writing, the XAU/USD trades at…

Silver extends rally to fresh 14-year highs, breaking above the key $40.00 level last seen in September 2011.Fed rate cut bets, weak US Dollar, and safe-haven demand continue to fuel bullish momentumTechnical breakout confirmed above the July peak of $39.53, with XAG/USD holding firmly above short-term moving averages.Silver (XAG/USD) kicks off the week on a strong footing, with spot prices extending their rally for a fifth consecutive session, breaking above the $40.00 mark to hit fresh 14-year highs — levels last seen in September 2011. At the time of writing, the metal is consolidating around $40.70, as thin trading conditions…

The US Dollar (USD) started the week on the defensive, slipping back to multi-week troughs amid the inactivity in the US markets and a broad-based firmer tone in the risk complex.Here’s what to watch on Tuesday, September 2:The US Dollar Index (DXY) dropped for the fifth day in a row, hitting five-week lows near 97.50 ahead of a week packed with key US data releases. The ISM Manufacturing will take centre stage ahead of the final S&P Global Manufacturing PMI, Construction Spending and the RCM/TIPP Economic Optimism Index.EUR/USD surpassed the 1.1700 hurdle to clinch fresh six-day peaks following the continuation…

Holiday-dampened start to the week gives way to hefty data docket.This week will wrap up with a bumper print of US NFP jobs data.Risk appetite is riding high as markets bet on a September Fed rate cut.September opens up on a quiet note, with US markets shuttered on Monday for a long weekend. The Labor Day holiday has market flows crimped by the US long weekend, but a wide swath of high-impact events will keep this week on the entertaining side before the latest round of US Nonfarm Payrolls (NFP) crash into markets.Tuesday will officially kick the trading week off…