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GBP/JPY tests its initial resistance at the nine-day EMA of 199.81.The 14-day Relative Strength Index remains above 50, strengthening the bullish bias.The primary support lies at the crucial level of 199.50.GBP/JPY extends its gains for the second successive session, trading around 199.70 during the European hours on Tuesday. The currency cross appreciates ahead of the United Kingdom’s (UK) S&P Global Purchasing Managers’ Index (PMI) data for September.A look at the daily chart suggested the GBP/JPY cross is remaining within an ascending channel pattern, suggesting the market bias is bullish. Additionally, the 14-day Relative Strength Index (RSI), a key momentum gauge,…

The rupee on Tuesday extended its losses and slumped 48 paise to hit an all-time low of 88.76 against the US dollar in afternoon trade, as markets digested the shockwaves from US President Donald Trump’s steep H-1B visa fee hike. Forex traders said H-1B visa fees hike sparked worries over remittances and potential equity outflows from India’s IT sector — a double hit for the currency, at a time when foreign inflows have already been weak this year. At the interbank foreign exchange, the rupee opened at 88.41, then lost further ground and touched an all-time intraday low of 88.76…

The rupee depreciated 25 paise to an all-time intraday low of 88.53 against the US dollar in early trade on Tuesday, as headwinds like enhanced US tariffs on Indian goods, as well as the US H-1B Visa fee hike, dented investor sentiments. Forex traders said that global risk aversion and trade policy uncertainty have also exacerbated the rupee’s depreciation. At the interbank foreign exchange, the rupee opened at 88.41, then lost further ground and touched an intraday low of 88.53 against the US dollar, registering a decline of 25 paise over its previous close. On Monday, the rupee depreciated by…

The USD/JPY outlook suggests some strength in the yen after Friday’s slightly hawkish BoJ policy meeting. Japan has to choose a new prime minister on October 4th. Traders will watch Fed policymakers’ remarks for more clues on rate cuts. The USD/JPY outlook suggests some strength in the yen after Friday’s slightly hawkish Bank of Japan policy meeting. Meanwhile, the dollar retreated at the start of a week when Fed policymakers will reveal their views on the economy and future policy moves. –Are you interested in learning more about MT5 brokers? Check our detailed guide- On Friday, the Bank of Japan…

US President Donald Trump | Photo Credit: Aaron Schwartz US President Donald Trump’s steep hike in H-1B visa fees could hurt India’s services sector, curb remittance inflows and weigh on the rupee, economists said.Last week, Trump ordered a sweeping overhaul of the H-1B visa programme, mandating a $100,000 application fee aimed at deterring excessive use. India is especially vulnerable to these changes, as roughly 70 per cent of H-1B visa holders in the US are Indian — many employed through Indian IT firms.Highly skilled Indian migrants in wealthy nations are a vital source of cash for the country, steadily increasing…

The Indian Rupee fell to near 88.40 against the US Dollar following the US announcement of a one-time fee on H-1B visa applicants.India’s Commerce Minister Goyal is scheduled to visit Washington for trade talks on Monday.Fed’s Daly stated that the interest rate cut was aimed at bolstering the slowing US labor market.The Indian Rupee (INR) trades lower against the US Dollar (USD) at the start of the week. The USD/INR pair rises to near 88.40 as the announcement of the one-time hefty $1,00,000 fee on new applicants for H-1B visas by the United States (US) has raised concerns over the…

The Euro accelerates its recovery and approaches 1.1800 after bouncing at 1.1730.ECB and Fed officials are expected to provide further details about the banks’ monetary policies.Fed Chair Jerome Powell is expected to speak on Tuesday and might set the USD’s near-term direction.EUR/USD has attracted some buyers to snap a three-day losing streak on Monday. The pair is trading at 1.1765 at the time of writing after bouncing from 1.1730 lows. The pair has broken a three-day losing streak as the US Dollar retreated ahead of a slew of Fed speakers. In Europe, ECB officials and the preliminary Consumer Confidence data…

Here is what you need to know on Monday, September 22:Gold builds on its bullish action to end the previous week and trades at a new record-high above $3,700 on Monday. In the absence of high-impact data releases, investors will pay close attention to comments from policymakers of major central banks on Monday. Following a three-day rally, the US Dollar (USD) holds steady in the European morning on Monday, with the USD Index moving sideways above 97.50. The Federal Reserve’s (Fed) cautious tone on further policy easing and upbeat data releases from the US seen in the second half of…

Silver price reached a new 14-year high of $43.77 on Monday.The safe-haven Silver attracts buyers amid rising geopolitical tensions in Europe and the Middle East.Poland’s NATO-aligned armed forces deployed aircraft to ensure the safety of Polish airspace after Russian airstrikes.Silver price (XAG/USD) extends its gains to mark fresh 14-year highs, trading around $43.50 per troy ounce during the European hours on Monday. The price of the precious metals, including Silver, gained ground amid rising safe-haven demand, driven by the geopolitical tensions in Europe and the Middle East.Russia launched airstrikes targeting western Ukraine near the border with Poland, prompting Poland’s NATO-aligned…

New Zealand Dollar rebound finds resistance at 0.5860 and dips to fresh lows below 0.5845.The US Dollar maintains its firm tone ahead of a slew of Fed speakers.Weak New Zealand’s macroeconomic figures are limiting the Kiwi’s upside attempts. New Zealand Dollar’s attempt to bounce up from two-week lows at 0.5845, seen during the early Asian session, has been capped at 0.5860, and the pair retreated again ahead of the European session opening, returning to 0.5950.Looking at it in perspective, the pair remains vulnerable after having depreciated nearly 2.5% after last week’s knee-jerk reaction. Earlier today, the People’s Bank of China…