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Headline HICP inflation surprised modestly to the upside in July, holding steady at the ECB’s 2% target, against our and consensus expectations for a move lower to 1.9%, ABN AMRO’s economist Bill Diviney reports. Food inflation picking up “Core inflation was in line with expectations at 2.3%. The drivers of the surprise in the headline figure were less disinflation in energy than had been signalled by wholesale energy prices, and a renewed pickup in food inflation, which rose to an 18 month high of 3.3%. While well off the peak of 15.5% during the energy crisis, food inflation bears close…

EUR/GBP attracts sellers on Monday with the cross hovering just above the 0.8700 psychological mark, down over 0.20% intraday.Traders reposition ahead of the Bank of England’s monetary policy decision due Thursday, August 7.The United Kingdom’s economic outlook is pressured by tax hikes, slowing consumer demand, and a softening labor market.The Euro (EUR) edges lower against the British Pound (GBP) on Monday, with the Pound trading on a firmer footing across the board, as traders reposition ahead of the Bank of England’s (BoE) monetary policy decision due Thursday, August 7.The EUR/GBP cross marked an intraday high of 0.8731 during the early…

Individual Retirement Accounts (IRAs) are powerful tools for preparing for retirement while minimizing your tax bill. These American retirement accounts make it possible to combine retirement savings with tax advantages, provided you understand how they work and their limitations. Here’s how to make the most of the tax deductions offered by IRA contributions.A dual strategy: Save for tomorrow, reduce taxes todayThe great strength of Traditional IRAs, as opposed to Roth IRAs, lies in the possibility of deducting contributions from taxable income. In concrete terms, money contributed to a Traditional IRA can reduce taxable income for the year, resulting in an immediate reduction…

US Dollar (USD) could edge lower against Chinese Yen (CNH), but any decline might not be able to reach 7.1750. In the longer run, USD appears to have moved into a 7.1600/7.2240 range trading phase, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. USD may have moved into the long term 7.1600/7.2240 range24-HOUR VIEW: “USD dropped by 0.26% last Friday, closing at 7.1910. There has been a buildup in downward momentum, albeit not by much. Today, USD could edge lower, but any decline might not be able to reach 7.1750 (there is another support level at 7.1820).…

The rupee depreciated 52 paise to close at 87.70 (provisional) against the US dollar on Monday, as sustained foreign fund outflows and trade tariff uncertainties dented investors’ sentiment. Forex traders said US President Donald Trump’s tariffs triggered fresh concerns over a much wider disruption in the global trade landscape. The domestic currency declined during the day on demand for dollars from Oil Marketing Companies (OMCs). At the interbank foreign exchange, the domestic unit opened at 87.21 against the greenback, touching an intra-day low of 87.70 against the American currency. At the end of Monday’s trading session, the domestic unit was…

The Indian rupee extended its decline against the U.S. dollar on Monday, pressured by persistent foreign outflows and sustained dollar demand from importers, particularly state-run oil companies, traders and analysts said. The rupee closed at 87.6550 to the dollar, compared with Friday’s close of 87.5400. The currency had opened stronger at 87.2250, tracking a weaker dollar after a softer-than-expected U.S. jobs report on Friday raised expectations of a Federal Reserve rate cut in September.The dollar index was down 0.27% at 98.92 as of 1025 GMT. However, dollar-buying through the day, especially by oil importers, erased early gains, traders said.Live Events…

The USD/JPY forecast indicates a slight recovery in the dollar. The economy added only 73,000 jobs in July. The BoJ has been more confident in talks of resuming rate hikes. The USD/JPY forecast indicates a slight recovery in the dollar after a steep decline in the previous session due to downbeat employment numbers. Meanwhile, the yen found support in talks of the BoJ continuing its monetary tightening.  –Are you interested in learning more about Bitcoin price prediction? Check our detailed guide- The dollar had a bad end to the week after the US released a downbeat monthly employment report. The…

Highlights Dollar rebounds slightly after Friday’s slide Weak jobs data, uncertainty over Fed independence undermine US economy Investors pricing in more than 90% chance of September Fed cut A battered dollar found some support on Monday after a dismal US jobs report and President Donald Trump’s firing of a top labour official stunned investors and led them to ramp up bets of imminent Federal Reserve rate cuts.Data on Friday showed US employment growth undershot expectations in July while the nonfarm payrolls count for the prior two months was revised down by a massive 258,000 jobs, suggesting a sharp deterioration in…

On Friday, the rupee closed at 87.18 against the US dollar. The rupee depreciated 11 paise to 87.29 against the US dollar in early trade on Monday, weighed down by sustained foreign fund outflows and concerns over trade tariffs.Forex traders said the weakness in the dollar index and easing crude oil prices supported the rupee at lower levels.At the interbank foreign exchange market, the rupee opened at 87.21 and fell to an early low of 87.29 against the American currency, registering a decline of 11 paise over its previous close.On Friday, the rupee closed at 87.18 against the US dollar.”Indian…

The rupee is set to open higher on Monday, riding the dollar’s plunge after a weak US jobs data boosted bets that the Federal Reserve will cut rates at its September meeting.The 1-month non-deliverable forward indicated the rupee will open in the 87.18-87.22 range versus the US dollar, up from 87.54 on Friday.The rupee fell over 1 per cent last week to its lowest level since February, pressured by equity outflows and concerns over a 25 per cent US tariff on imports from India.”The broader trend (on USD/INR) remains bid. While Friday’s dollar move is an unexpected turn for dollar…