Author: admin
The rupee fell 1.2% last week to 87.5275 per dollar on Friday, marking its biggest weekly drop since December 2022. | Photo Credit: HEMANSHI KAMANI Rupee is poised to remain one of Asia’s worst performers in the second half of the year, with US tariffs adding pressure to an already fragile economic recovery, analysts say.Analysts at Deutsche Bank AG and Barclays Plc expect the currency to drop to new record lows by the year-end amid muted foreign inflows and headwinds from US tariffs. Meanwhile, the Chinese yuan, Indonesian rupiah, Malaysian ringgit and Philippine peso are projected to gain, according to…
The rupee is likely to stay under pressure this week as concerns over steep U.S. tariffs on Indian exports linger, while the Reserve Bank of India’s upcoming policy decision also looms large over the currency and government bonds. The rupee closed at 87.54 against the U.S. dollar on Friday, down 1.2% for the week, pressured by persistent foreign portfolio outflows and a 25% levy on Indian exports. While the local unit is hovering near its weakest level since February, fresh tariff announcements on dozens of U.S. trading partners also pushed other Asian currencies to multi-month lows.The dollar index, meanwhile, posted…
India’s foreign exchange reserves rose by $2.703 billion to $698.192 billion for the week ending July 25, after falling for three consecutive weeks, according to the official data released by the Reserve Bank of India (RBI).In the previous reporting week, the country’s foreign exchange reserves fell by $1.18 billion to $695.49 billion. In the week ending July 25, foreign currency assets, the major constituent of the forex reserves, rose $1.316 billion, at $588.926 billion, possibly becoming the primary reason for the uptick in the forex reserves.The Gold reserves, another major component of the forex, again witnessed an uptick, increasing by…
The GBP/USD weekly forecast suggests further downside. The US economy grew by 3.0%, compared to the forecast of 2.5%. The dollar retreated on Friday after data revealed slower-than-expected job growth in July. The GBP/USD weekly forecast suggests further downside as market participants prepare for a Bank of England rate cut. Ups and downs of GBP/USD The GBP/USD price had a bearish week as the dollar strengthened on upbeat data and higher tariffs. However, there was a pullback after the nonfarm payrolls report. –Are you interested in learning more about Bitcoin price prediction? Check our detailed guide- At the start of…
The USD/CAD weekly forecast points to increasing economic concerns in Canada. Canada was one of the unlucky countries to fail to sign a trade deal with the US. Data revealed weak US job growth in July. The USD/CAD weekly forecast points to increasing economic concerns in Canada after Trump imposed higher tariffs. Ups and downs of USD/CAD The USD/CAD pair had a bullish week as the loonie weakened amid tariff concerns. At the same time, the dollar gained against most of its peers, further weighing on Canada’s currency. Canada was one of the unlucky countries to fail to sign a…
USD/JPY drops from 150.91 to 147.28 on soft Nonfarm Payrolls.Pair falls below 200-day and 20-day SMAs, RSI turns bearish.Next key support sits at 145.71, where 50- and 100-day SMAs converge.The USD/JPY is set to end the week with losses of 0.18% after a worse-than-expected employment report in the United States (US) opened the gates for safe-haven demand, pushing the Japanese Yen higher. This, along with falling US Treasury yields, sent the pair plummeting more than 2%, from around 150.91 to 147.28. At the time of writing, the pair trades at 147.38, near the weekly lows.USD/JPY Price Forecast: Technical outlookThe USD/JPY…
EUR/USD rallies from 1.1391 to 1.1554, gaining over 1% on Friday.July Nonfarm Payrolls show just 73K jobs added; May–June revisions slash 258K jobs.Fed funds futures price in 62 bps of easing by December; 76% odds of a September rate cut.EU inflation data beats forecasts: HICP at 2.4% YoY, core HICP steady at 2.0%.The EUR/USD surges more than 1% on Friday as the Greenback gets battered on a worse-than-expected jobs report in the United States (US), which triggered investors’ reaction to price in two interest rate cuts by the Federal Reserve (Fed). Data across the pond was shrugged off by traders,…
The Canadian Dollar caught a much-needed boost against the US Dollar on Friday.Bearish Loonie flows reversed direction after the US Dollar took a hit post-NFP.Souring US jobs data has knocked the Greenback sharply lower.The Canadian Dollar (CAD) came out on top after a messy US Nonfarm Payrolls (NFP) release shattered global positioning in the US Dollar (USD) on Friday. The Greenback fell across the board after US net job additions fell well short of expectations, with previous months facing sharp downside revisions. The Loonie has pared some losses against the USD, but still remains down sharply for the week.Canadian Dollar…
The Dow Jones tumbled over 1.85% on Friday peak-to-trough.US NFP jobs figures came in well below expectations alongside steep revisions.A shuddering labor market has reignited hopes for more Fed rate cuts soon.The Dow Jones Industrial Average (DJIA) plummeted almost 2% top-to-bottom on Friday, falling over 800 points from Thursday’s closing bids at its lowest point. Equity markets are scrambling to recover their footing after a disappointing Nonfarm Payrolls (NFP) report that showed the US added far fewer jobs in July than expected.The Dow Jones fell to a five-week low, tapping 43,330 for the first time since late June and running…
WTI Crude Oil falls over 3% intraday on Friday but remains up 2.25% for the week.Geopolitical volatility spikes after US President Trump announces the deployment of nuclear submarines near Russia.Technically, WTI remains trapped in a symmetrical triangle with the price now approaching the lower boundary.West Texas Intermediate (WTI) Crude Oil is under pressure heading into the weekend, with the price sliding over 3% on Friday to trade near $66.70, pulling back from its highest level near $70 since June 23, reached on Wednesday. WTI is trading near $66.67 at the time of writing, down over 3% intraday, as technical resistance…