Author: admin

WTI price steadies as traders await the imposition of US tariffs on India.The US is set to raise tariffs on Indian exports to 50% from 25% at 04:01 GMT on Wednesday.Russia lifted August crude exports from western ports by 200,000 bpd versus the initial plan.West Texas Intermediate (WTI) Oil price moves little after registering more than 2% decline in the previous session, trading around $63.10 per troy ounce during the Asian hours on Wednesday. Crude Oil prices remain steady as traders adopt caution ahead of new United States (US) tariffs on India, the world’s third-largest crude importer.The United States is…

EUR/USD falls slightly to near 1.1630 as the Euro hits by French political uncertainty.French PM Bayrou might lose confidence vote on September 9.The ousting of Fed Governor Cook has dampened the outlook of the US Dollar.The EUR/USD pair edges lower to near 1.1630 during the Asian trading session on Wednesday. The major currency pair faces a slight selling pressure as political uncertainty in France has weighed on the Euro (EUR).The existence of Prime Minister (PM) François Bayrou’s minority government has come under threat as all three opposition parties of France have expressed that they won’t back a confidence vote over…

Australian Dollar declines despite stronger Monthly CPI data.Traders remain cautious after President Trump warned of a 200% tariff on Chinese goods.Trump has indicated that White House economist Stephen Miran could be considered for Fed Governor Lisa Cook’s seat.The Australian Dollar (AUD) struggles following the release of the Monthly Consumer Price Index (CPI) on Wednesday. The AUD/USD pair receives downward pressure as the US Dollar (USD) recovers its recent losses from the previous session.Australian Bureau of Statistics (ABS) reported that the Monthly Consumer Price Index jumped by 2.8% year-over-year in July, following a 1.9% increase reported in June. The market consensus…

Gold price attracts some sellers in Wednesday’s early European session. Worries over the Fed’s independence might support the Gold price.Traders await the US July PCE inflation report later on Friday for fresh impetus. The Gold price (XAU/USD) remains under selling pressure during the early European trading hours on Wednesday. The precious metal retreats from a two-week high of $3,395 amid the profit-taking and modest rebound in the US Dollar (USD). The potential downside for the yellow metal might be capped amid concerns over the US Federal Reserve’s (Fed) independence as US President Donald Trump doubled down on his efforts to oust a Fed governor.…

USD/JPY may struggle as the US Dollar could face challenges due to rising concerns over Fed independence.President Trump announced the removal of Fed Governor Lisa Cook from her position.Japan’s chief trade negotiator, Akazawa, will return to the United States on Thursday for talks.USD/JPY recovers its recent losses from the previous session, trading around 147.60 during the Asian hours on Wednesday. However, the upside of the pair could be restrained as the US Dollar (USD) may struggle amid rising concerns over Federal Reserve (Fed) independence.US President Donald Trump announced early Tuesday that he was removing Fed Governor Lisa Cook from her…

The rupee depreciated 12 paise to close at 87.68 (provisional) against the US dollar on Tuesday, tracking weak domestic markets after the US issued a draft notice on plans to implement an additional 25 per cent tariff on Indian products.Forex traders said the rupee lost momentum as worries over the looming 25 per cent additional US tariff on Indian goods, set to take effect from August 27, drove strong dollar demand from importers.At the interbank foreign exchange market, the rupee opened at 87.74, then touched an early high of 87.63 and an intraday low of 87.80 against the US dollar.The…

The Indian rupee continued its losing streak for a fifth consecutive session on Tuesday as Washington confirmed it will impose an extra 25% levy on Indian goods, clouding the outlook for Asia’s third-largest economy. The fall in the rupee was curbed after dollar sales from banks, likely on behalf of the Reserve Bank of India, traders said. U.S. Department of Homeland Security on Monday outlined the procedure to implement additional tariff on Indian goods starting Wednesday.The tariffs risk slowing growth in India as exporters face U.S. duties of up to 50% – among the highest imposed by Washington.Also Read- Trump’s…

The rupee depreciated 22 paise to 87.78 against the US dollar in early trade on Tuesday after the US issued a draft notice detailing plans to impose an additional 25 per cent tariff on India.Forex traders said the rupee lost momentum as worries over the looming 25 per cent US tariff on Indian goods, set to take effect from August 27, drove strong dollar demand from importers.The United States has issued a draft notice detailing plans to implement the additional 25 per cent tariff on Indian products, as previously announced by President Donald Trump. At the interbank foreign exchange market,…

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all…

The US Dollar Index has retraced to near 98.30 from Monday’s high of 98.55 as Trump fires Fed Governor Cook.Fed Cook’s removal has raised concerns over the credibility of the US central bank.Fed’s Powell turned dovish on the interest rate outlook.The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, corrects to 98.30 during the Asian trading session on Tuesday, following a decent recovery move the previous 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 Japanese…