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The rupee appreciated 14 paise to 86.93 against the US dollar in early trade on Thursday, on positive domestic equities and a rise in risk-on sentiments. Forex traders said the rupee is trading with a positive bias on a rise in risk appetite in the global markets amid hopes of peace between Russia and Ukraine. Moreover, investors are awaiting cues on the geopolitical front as well as the US FED stance on interest rates. At the interbank foreign exchange, the rupee opened at 87.04, then touched an early high of 86.93, registering a gain of 14 paise over its previous…

The Bank of Japan (BoJ) will raise the interest rate by at least 25 basis points (bps) again by the year-end, according to nearly two-thirds of economists in a Reuters poll, up from just over half a month ago.Additional takeaways67 of 73 economists (92%) expect no change at next policy meeting in September.45 of 71 economists (63%) expect BOJ to raise rates to 0.75% in Q4 2025 (up from 54% last month).Of 40 economists specifying a timeline for the BOJ to move, 38% see the move coming in October, 18% in December, 30% for January next year.22 of 29 economists…

The Dow continues to grapple with the 45,000 region heading through the midweek.Tech stocks saw fresh declines early on Wednesday as investors reconsidered sky-high valuations.Policymaker sentiment will take a front seat heading into the annual Jackson Hole central banking summit.The Dow Jones Industrial Average (DJIA) faced fresh bearish pressures on Wednesday, with the major equity index getting dragged lower in early trading as tech stocks saw further profit-taking. The Dow recovered most of its footing through the midweek market session, but investors remain tightly wound ahead of a large swath of central bank jawboning and business sentiment figures set to…

The Minutes of the Fed’s July 29-30 policy meeting will be published on Wednesday.Details surrounding the discussions on the decision to keep policy unchanged will be scrutinized by investors.Markets widely expect the Fed to opt for a 25 bps rate cut in September. The Minutes of the United States (US) Federal Reserve’s (Fed) July 29-30 monetary policy meeting will be published on Wednesday at 18:00 GMT. The US central bank decided to maintain the policy rate in the range of 4.25%-4.5% at this meeting, but Fed Governors Christopher Waller and Michelle Bowman dissented, preferring to lower the fed funds rate by…

The USD/CAD forecast shows a weak Canadian dollar as BoC rate cut bets rise. Inflation in Canada eased to 1.7% in July from the previous reading of 1.9%.  Oil has dropped amid progress in peace talks with Russia and Ukraine. The USD/CAD forecast shows a weak Canadian dollar as BoC rate cut bets rise after soft inflation figures from Canada. At the same time, the loonie is declining due to a drop in oil prices amid peace talks between the US, Russia, and Ukraine. –Are you interested to learn more about forex options trading? Check our detailed guide- Data on…

Gold is trimming losses after a two-day reversal, but the broader trend remains negative.Risk aversion after Wall Street’s sell-off and lower geopolitical optimism is supporting the precious metal’s recovery.XAU/USD approaches the top of a descending wedge pattern, at $3,335.Gold  (XAU/USD) is trimming some losses on Wednesday, drawing support from the sour market sentiment. The precious metal has bounced from two-week lows right above $3,300, but remains capped below previous support at the $3,330 area, which leaves the broader bearish trend intact. Bullion is drawing support from the sourer market sentiment, with equity markets in red after a sell-off in Wall…

The GBP/USD price analysis suggests a longer delay in Bank of England rate cuts. Inflation in the UK accelerated from 3.6% to 3.8%. Traders are awaiting the FOMC minutes. The GBP/USD price analysis suggests a longer delay in Bank of England rate cuts as UK inflation remains high. As a result, the pound recovered from its previous day’s decline. Meanwhile, the US dollar held steady against most of its peers ahead of the FOMC minutes and the Jackson Hole symposium. –Are you interested to learn more about forex options trading? Check our detailed guide- Data on Wednesday revealed that inflation…

The Indian rupee slipped on Wednesday, as corporate hedging and short-term speculators bolstered demand for the greenback, most of which was met by dollar sales by foreign banks. The rupee settled at 87.0650 to the U.S. dollar against its close of 86.9500 on Tuesday when it climbed the most in over a month, boosted by speculation over Russia-Ukraine peace talks. Traders said foreign banks were active sellers of dollars on Wednesday, limiting rupee depreciation despite significant hedging by importers.A rally in local equities and position squaring also helped the Indian currency recover after recent pressure, traders said. Recent weeks have…

 Forex traders said investors are taking a cautious approach as the market eyes potential Russia-Ukraine talks | Photo Credit: iStockphoto The rupee was trading in a tight range and depreciated 3 paise to 87.16 against the US dollar in early trade on Wednesday, tracking weak Asian peers and a negative trend in domestic equities. Forex traders said investors are taking a cautious approach as the market eyes potential Russia-Ukraine talks. Moreover, traders are awaiting cues from the US Federal Reserve Chief Jerome Powell’s speech on the path of monetary policy at the Jackson Hole Symposium this weekend. At the interbank…

The Indian rupee’s rally to a three-week high is at risk of stalling on Wednesday, pressured by a decline in Asian currencies and lacklustre equity flows.The 1-month non-deliverable forward indicated the rupee will open in the 87.10-87.14 range versus the US dollar, compared with 86.95 on Tuesday, when it hit a three-week high of 86.92.Unwinding of long-dollar positions, Prime Minister Narendra Modi’s planned tax cuts and cautious optimism on the Ukraine-Russia front drove the rupee to its best day in seven weeks on Tuesday.The “washout” of dollar longs has left positioning much lighter, and it won’t be a driver for…