Author: admin

Gold (XAU/USD) attracts some dip-buyers during the first half of the European session and, for now, seems to have stalled its retracement slide from the all-time peak, touched on Friday. Persistent trade-related uncertainties, rising geopolitical risks, and concerns that a prolonged US government shutdown would affect the economic performance continue to act as a tailwind for the safe-haven precious metal. Furthermore, dovish Federal Reserve (Fed) expectations underpin demand for the non-yielding yellow metal.In fact, traders have fully priced in two more interest rate cuts by the US central bank this year, which fails to assist the US Dollar (USD) to…

The rupee appreciated 14 paise to a month’s high of 87.88 against the US dollar in early trade on Monday on foreign fund inflows and lower crude oil prices. Sharp gains in the domestic stock market also bolstered the rupee sentiment. At the interbank foreign exchange market, the rupee opened strong at 87.94 and moved in a tight range due to restricted trade.The rupee hit a low of 87.95 and a high of 87.88 in the early session. The local unit later traded at 87.88 against the US dollar, up 14 paise over the previous close. On Friday, the rupee…

Bank of Japan (BoJ) Board Member Hajime Takata said on Monday that Japan has already roughly achieved the BoJ’s price target. Key quotesFeels that BoJ must respond to the fact that headline inflation has exceeded 2% for a while now.Initial fear over impact of tariffs has diminished.Tankan report indicates tariffs have not caused significant slowdown in Japan’s economy.Expects Japan’s consumption to continue increasing moderately.Was particularly worried about risk of big market volatility from US tariffs.But US economy has averted a downturn and yen is weakening rather than strengthening.Conditions are falling in place where second-round effects of inflation could broaden. BoJ must gradually “shift…

Gold price (XAU/USD) trades in negative territory around $4,245 during the early Asian session on Monday. The precious metal edges lower as the recent record-breaking rally seems overstretched and physical demand eases after the festive rush. Traders brace for China’s Q3 Gross Domestic Product (GDP) data later on Monday, along with Industrial Production and Retail Sales reports for September. The yellow metal ended last week on a positive note, bolstered by festive demand in India and strong ETF buying. However, some profit-taking or consolidation cannot be ruled out in the near term as ongoing fundamentals are already priced in and physical demand…

Rupee appreciated to close at 87.975 per US dollar on October 17 (Friday) against previous Friday’s close of 88.6850 amid weakness in the dollar, softer crude oil prices and hopes of a positive outcome from the US-India tariff talks. The rupee, which gained 71 paise last week, may get further support on potential inflows of $3 billion from the proposed acquisition of up to 60 per cent stake in RBL Bank by Emirates NBD and the possibility of the dollar weakening amid increasing possibility of a rate cut by the US Fed.The Indian currency appreciated to close at 87.975 per…

EUR/USD dives 0.17% during the North American session on Friday as the Greenback trims its earlier losses as US President Donald Trump tempered his trade rhetoric on China. The pair trades at around 1.1666 after hitting a daily high of 1.1728.Euro retreats from daily highs as risk appetite improves and Fed remarks stay cautiously dovishRisk appetite improved ahead of Wall Street open as US President Donald Trump said that high tariffs on China were not sustainable and most likely increase tensions between the two countries. He added that he plans to meet Xi Jinping at the Asian Pacific reunion in…

The Dow Jones Industrial Average (DJIA) found a near-term foothold to wrap up the trading week, rebounding around 240 points from recent lows and fighting to stay on the high side of key moving averages. Equities took a hit this week after multiple entities in the lending and banking sectors went bankrupt or flashed warnings about debt quality, sparking a brief period of wobbly sentiment. Investors recovered their footing to end the week.Friday rebound takes Dow back from the brinkFriday’s equity market recovery was partly driven by hope of an easing in trade tensions after US President Donald Trump soft-balled…

The Canadian Dollar (CAD) caught a fresh bid on Friday, reclaiming some lost ground against the US Dollar (USD), although the Loonie still remains trapped near six-month lows against the Greenback. The possibility of tariff easing from the US sparked a fresh round of investor risk appetite to close out an otherwise middling week that saw the US Dollar broadly gain ground. Investor nerves continue to fray at the hands of brinkmanship politics and policy setting from the Trump administration, and traders are looking for any excuse to pare back on risk-off bets as the trade gets crowded.Canadian Prime Minister…

Gold price (XAU/USD) falls 2% after reaching a record high at $4,379 earlier on Friday, tumbles below $4,250, sponsored by US President Donald Trump’s comment that triple-digit tariffs on China are unsustainable. At the time of writing, Bullion prices hover at around the $4,230 – $4,240 range.Bullion tumbles below $4,250 as risk appetite returns and Treasury yields climbThe Greenback is recovering some ground, a headwind for Gold prices. Yet the biggest move is seen at US Treasury yields, with the 10-year T-note yield up nearly three basis points. US President Donald Trump commented that elevated threatened tariffs on China were…

The Australian Dollar (AUD) remains well bid against the US Dollar (USD) on Friday, as US President Donald Trump’s softer stance on trade with China eases risk sentiment. The Aussie is showing resilience even as the Greenback strengthens, supported by Australia’s close trade ties with China.At the time of writing, AUD/USD is holding firm around the 0.6500 psychological level, rebounding from an intraday low of 0.6443. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is recovering modestly from two-week lows, trading around 98.45, but remains on track for weekly losses.US…