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Gold (XAU/USD) kicks off the week with strong upward momentum, surging to fresh record highs near $4,620 as renewed concerns over Federal Reserve (Fed) independence fuel broad risk aversion. At the time of writing, XAU/USD trades around $4,600, up nearly 2.0% on the day.Market sentiment has been shaken by an unprecedented development in the United States (US), where prosecutors have launched a criminal investigation into Fed Chair Jerome Powell.The rising political pressure on the Fed undermines confidence in US monetary policy and weighs on the US Dollar (USD), while supporting Gold amid growing economic uncertainty.At the same time, persistent geopolitical…
The USD/JPY pair trades firmly to its yearly high near 158.20 during the European trading session on Monday. The pair remains broadly firm while both the US Dollar (USD) and the Japanese Yen (JPY) are underperforming during the day. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar. USDEURGBPJPYCADAUDNZDCHFUSD-0.40%-0.42%-0.09%-0.28%-0.30%-0.48%-0.45%EUR0.40%-0.02%0.39%0.14%0.11%-0.06%-0.04%GBP0.42%0.02%0.40%0.15%0.14%-0.03%-0.03%JPY0.09%-0.39%-0.40%-0.25%-0.27%-0.45%-0.42%CAD0.28%-0.14%-0.15%0.25%-0.02%-0.20%-0.16%AUD0.30%-0.11%-0.14%0.27%0.02%-0.19%-0.16%NZD0.48%0.06%0.03%0.45%0.20%0.19%0.03%CHF0.45%0.04%0.03%0.42%0.16%0.16%-0.03% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top…
The Indian rupee closed nearly flat on Monday, wedged between a broadly weaker dollar and steady hedging demand from domestic firms, while optimism over U.S.-India trade talks offered some support to market sentiment. The rupee closed at 90.1525 per dollar, little changed from 90.1625 in the previous session.The dollar slid against major peers amid renewed concerns over the independence of the U.S. Federal Reserve, but traders said persistent corporate demand for dollars prevented the rupee from capitalising on the move.The greenback was last down 0.4% at 98.8 against a basket of peers, while gold struck a record high of more…
The rupee recovered from low levels and settled 2 paise higher at 90.16 (provisional) against the US dollar on Monday on weak American currency and sliding crude oil prices. Equity market sentiment also improved after the new US envoy to India, Sergio Gor, said that both sides are actively engaged in firming up a trade deal, forex analysts said. However, a volatile geopolitical situation kept the domestic currency under pressure, restricting its recovery, they said. Also, traders awaited cues from domestic and US macroeconomic data to be released this week. At the interbank foreign exchange, the rupee opened at 90.23…
EUR/CAD extends its gains for the second successive session, trading around 1.6210 during the European hours on Monday. The currency cross advances as the Euro (EUR) gains support from signs that the European Central Bank (ECB) is nearing the end of its rate-cutting cycle.Eurozone headline inflation slowed to 2.0% in December, a four-month low and in line with the ECB’s target, while core inflation eased to 2.3%, coming in slightly below forecasts. Easing inflation supports the view of policymakers that the European Central Bank (ECB) may keep interest rates at current levels unless the economic outlook changes significantly.Traders also adopt…
The USD/JPY outlook remains modestly bullish, as poor risk sentiment benefits the dollar more than the yen. Japan’s PM could call for an early election, keeping the yen under pressure. Speculations about the Fed’s independence could limit the dollar’s rally in the short term. The USD/JPY pair trades near a one-year high as the Japanese yen faces pressure. At the start of the week, the pair dropped for a short time but quickly bounced back, close to the 158.00 handle. –Are you interested in learning more about forex tools? Check our detailed guide- The price action shows the US dollar’s…
The rupee depreciated 5 paise to 90.23 against the US dollar in early trade on Monday, driven by rising crude oil prices and an unabated outflow of foreign funds.According to forex traders, a volatile geopolitical situation and concerns over further US tariffs on Indian exports fueled the selling of Indian stocks by foreign institutional investors, even as traders awaited cues from macroeconomic data to be released this week.At the interbank foreign exchange, the rupee opened at 90.23 and stayed weaker by 5 paise from its previous closing level.On Friday, the rupee fell 28 paise to close at 90.18 against the…
The Japanese Yen (JPY) recovers slightly after touching a fresh one-year low against a broadly weaker US Dollar (USD) during the Asian session on Monday. The global risk sentiment takes a hit amid concerns about further escalation of geopolitical tensions, which, in turn, is seen driving some safe-haven flows toward the JPY. The USD, on the other hand, is pressured by growing concerns about the Federal Reserve’s (Fed) independence, which offsets reduced bets for more aggressive policy easing this year, and exerts pressure on the USD/JPY pair.However, a deepening Japan-China rift and reports that Japan’s Prime Minister Sanae Takaichi may…
The Indian rupee, already under pressure from foreign outflows and hedging, could face further strain on Monday on mounting tensions between U.S. President Donald Trump and Federal Reserve Chair Jerome Powell. The 1-month non-deliverable forward indicated the rupee will open in the 90.22-90.28 range versus the U.S. dollar, having dropped 0.16% on Friday to settle at 90.1625. The rupee was unable to make headway last week despite two interventions on different days by the Reserve Bank of India that were aimed at pushing the currency higher. Bankers said the central bank stepped up to break the momentum in speculative long…
A group of European nations, headed by the United Kingdom (UK) and Germany, is discussing plans to increase its military presence in Greenland to show US President Donald Trump that the continent is serious about Arctic security, Bloomberg reported on Sunday.The source said that Germany will propose setting up a joint NATO mission to protect the Arctic region. Meanwhile, UK Prime Minister Keir Starmer urged allies to step up their security presence in the High North and recently reached out to leaders, including French President Emmanuel Macron and German Chancellor Friedrich Merz to discuss the issue.Market reaction At the time of…