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The Australian Dollar struggles as Trump threatens to impose a 200% tariff on Chinese goods.RBA Meeting Minutes suggested further rate cuts to be needed in the coming year.President Trump removed Fed Governor Cook from her position on the Fed’s board of directors.The Australian Dollar (AUD) depreciates against the US Dollar (USD) on Tuesday, extending its losses for the second successive session. The AUD/USD pair remains subdued as US President Donald Trump warned that he may impose a 200% tariff on Chinese goods if China refuses to supply magnets to the United States (US), per Reuters. It is worth noting that…

Gold price gains ground in Tuesday’s early European session.Concerns over Fed’s independence and potential US Fed rate cut support the Gold price. The US CB Consumer Confidence and Durable Goods Orders reports will be the highlights later on Tuesday. The Gold price (XAU/USD) rises to a two-week high near $3,385 during the early European trading hours on Tuesday. The precious metal edges higher amid concerns about the US Federal Reserve’s (Fed) independence after the report that US President Donald Trump says he is removing Fed Governor Lisa Cook. Additionally, signs that the US central bank will resume cutting interest rates provide some support to the…

Japanese Finance Minister Katsunobu Kato said on Tuesday that he is “alarmed over FX moves, including those driven by speculators.”Additional quotesWon’t comment on forex levels.Important for currencies to move in a stable manner reflecting fundamentals.Market reactionAt the time of writing, USD/JPY is losing 0.34% on the day to trade near 147.30, little moved by these above comments. Japanese Yen Price Today The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the New Zealand Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.21% -0.18% -0.43% -0.07% -0.05%…

USD/CAD edges lower to near 1.3855 in Tuesday’s early Asian session. LeBlanc and Lutnick are set to meet later this week as Canada plans to ease most retaliatory tariffs against the US. Rising Fed rate cut bets weigh on the US Dollar. The USD/CAD pair trades with mild losses around 1.3855 during the early Asian session on Tuesday. The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Canada’s move to ease trade tensions with its largest trading partner. The Conference Board’s Consumer Confidence, Durable Goods Orders and the Richmond Fed Manufacturing Index reports will be released later on Tuesday. Canada- US Trade…

The rupee reversed early gains to close 6 paise lower at 87.58 per US dollar on Monday, pressured by a strong greenback and rising crude oil prices | Photo Credit: iStockphoto The rupee pared initial gains to settle 6 paise lower at 87.58 (provisional) against the US dollar on Monday, tracking a strong American currency and a recovery in crude oil prices.Forex traders said investors were cautious ahead of the implementation of the August 27 tariff deadline and the upcoming US economic data ahead of the Federal Reserve’s September 17 meeting.At the interbank foreign exchange market, the rupee opened on…

The Indian rupee gave up early gains to end lower on Monday as concerns over steep tariffs on Indian goods spurred dollar demand, with importer bids adding pressure. The currency closed 0.1% lower at 87.58, against its previous close of 87.53 in the previous session. The local unit, which opened at 87.39, and hit day’s high of 87.3450, saw selling pressure through the day amid dollar-buy orders from importers.”An additional 25% tariff is set to be enforced on August 27. This move will reduce Indian exports, widen the trade deficit, and add further stress to the rupee,” said Amit Pabari,…

The biggest highlight of last month, in our view, was the sovereign rating upgrade by S&P, which was long overdue. The move is likely to attract more capital towards India over the long term, both in debt and equity.Another key development was the announcement of the rationalization of GST slab rates by PM Modi in his Independence Day speech. This, too, was long overdue.There seems to be limited room for monetary policy to turn more accommodative, and therefore a fiscal impetus was needed to support and boost consumption.However, the market’s reaction to these positive developments has been muted.We believe the…

The rupee appreciated 18 paise to 87.34 against the US dollar in early trade on Monday, supported by positive domestic equities, even as external risks remain elevated.Forex traders said the near-term direction of the rupee will depend on two key events — the implementation of the August 27 tariff and upcoming US economic data ahead of the Federal Reserve’s September 17 meeting.At the interbank foreign exchange, the rupee opened at 87.38, then touched a early high of 87.34, registering a gain of 18 paise over its previous close.On Friday, the rupee fell 27 paise to close at 87.52 against the…

The Indian rupee’s trajectory this week will be dominated by developments on U.S. trade policy, with steep tariffs on Indian goods slated to take effect from Wednesday, while government bonds will track any developments on the fiscal front. Relations between Washington and New Delhi have deteriorated, with U.S. officials openly criticizing India’s continued purchases of discounted Russian oil. Washington has already imposed 25% duties on India, higher than on several other major trading partners, and Trump has said an extra 25% levy will take effect on August 27 in response to India’s continued purchases of Russian oil.At the beginning of…

India’s foreign exchange reserves (Forex) rose by $1.48 billion in the week that ended August 15 to $695.10 billion, driven by gains in foreign currency assets, the Reserve Bank of India (RBI) said in its latest ‘Weekly Statistical Supplement’.For the reported week, India’s foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at $585.90 billion, up by $1.92 billion.The RBI data shows that the gold reserves currently amount to $86.16 billion, witnessing a decline of $2.16 billion. India’s Special Drawing Rights (SDRs) with the global financial body, the International Monetary Fund (IMF), increased by $41 million, reaching…