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AUD/USD bounces strongly to the upper-0.6400s after July’s US NFP.The US Dollar loses its shine as traders see a potential Fed rate cut in September.The final S&P Global Manufacturing PMI in Australia remained strong in July.The now widespread recovery in the risk-linked galaxy lends extra oxygen to the Australian Dollar (AUD), sending AUD/USD back to the proximity of the key resistance area around 0.6500 on Friday.AUD/USD meets support near 0.6400The pair advances to two-day highs within the 0.6480-0.6490 range, marking a positive end to the week, as it gains strong momentum following the disappointing US Nonfarm Payrolls report for July…

The rupee appreciated 12 paise to close at 87.53 (provisional) against the US dollar on Friday, on lower crude prices and suspected RBI interventions as US President Donald Trump’s sweeping new tariffs triggered fresh concerns over a much wider disruption in the global trade landscape. Forex traders said the US’ imposition of a 25 per cent tariff on Indian exports triggered risk-off sentiment and heightened concerns regarding further rupee depreciation. On Wednesday, Trump announced the 25 per cent tariff on India and an additional penalty for New Delhi’s purchases from Russia. While August 1 was the tariff implementation deadline, the…

The Indian rupee nudged higher on Friday, supported by likely intervention from the Reserve Bank of India, but still logged its worst weekly drop since late 2022 due to worries over U.S. tariffs and sustained foreign portfolio outflows. The rupee closed at 87.5300 against the U.S. dollar on Friday, a tad higher than its close at 87.5950 in the previous session. On the week, the currency declined 1.2%, its worst performance since December 2022. The South-Asian currency fell to 87.74 on Thursday, just shy of its all-time low of 87.95 in February, following President Donald Trump’s announcement of a steeper-than-expected…

Foreign portfolio outflows have also been a consistent pain point for the rupee as overseas investors remained net sellers of Indian stocks over the last nine consecutive trading sessions | Photo Credit: spawns The Indian rupee found its footing on Friday after slipping to within striking distance of a record low in the previous session, as firm intervention by the central bank and a cutting of short bets against the currency helped it stabilise.The rupee strengthened to 87.3025 against the U.S. dollar as of 11:00 a.m. IST, up 0.3% on the day, following 12 consecutive sessions of either logging a…

The rupee appreciated 40 paise to 87.25 against the US dollar in early trade on Friday, amid lower crude prices and suspected RBI interventions as the US’s imposition of a 25 per cent tariff on Indian exports heightened investors’ concerns. Forex traders said the US’s imposition of a 25 per cent tariff on Indian exports triggered risk-off sentiment and heightened concerns regarding further rupee depreciation. Moreover, investors are focussed on US President Donald Trump’s imposition of new, and mostly higher tariffs on US trading partners beginning August 1. At the interbank foreign exchange market, the rupee opened at 87.60 and…

The Reserve Bank of India likely intervened to support the rupee on Friday as worries over steep U.S. trade tariffs and foreign portfolio outflows from equities kept up the pressure, five traders told Reuters. The rupee was at 87.5150, up 0.1% in early trading after opening nearly flat at 87.60, sidestepping losses in regional currencies. State-run banks were spotted offering dollars “right from 87.60 levels,” and most likely on behalf of the RBI, a trader at a Mumbai-based bank said.Separately, two Singapore-based FX traders said that the central bank had also likely stepped into the non-deliverable forwards market to prevent…

GBP/USD drops after Fed’s 9–2 decision to hold rates; Powell gives no guidance for September.US Initial Jobless Claims fall to 218K ahead of NFP; strong labor market supports USD.Core PCE rises to 2.8% YoY in June; headline PCE hits 2.6%, both above estimates.The GBP/USD posted moderate losses during the North American session on Thursday after the Federal Reserve (Fed) held rates on Wednesday and failed to provide forward guidance for the September meeting. This, along with solid US jobs data and an uptick in inflation, boosted the Dollar. The pair trades at 1.3214 after reaching a high of 1.3281.Sterling weakens…

The Canadian Dollar weakens for a sixth consecutive day, with USD/CAD hitting its highest level since late May.US President Donald Trump threatens 35% tariffs on Canadian goods not covered under USMCA if no deal is reached by August 1.Canadian GDP contracts 0.1% MoM in May, marking the second straight monthly decline.The Canadian Dollar (CAD) remains on the back foot for a sixth straight day against the US Dollar (USD) on Thursday, sinking to its weakest level since late May. At the time of writing, the USD/CAD pair is trading flat around 1.3834 during early American trading hours, hovering near a…

Whether it’s long-distance travel, a small garden to tend each morning or quality time spent with loved ones, the retirement you envision deserves a clear financial strategy.At the heart of that strategy is often a valuable tool: the Individual Retirement Account (IRA). But how can you be sure that your IRA is leading you to the retirement of your dreams? Here’s how to align your retirement accounts with your life goals.Dreaming, yes. But put a figure on itRetirement planning doesn’t start with an Excel spreadsheet. It starts with a vision. Would you like to live by a lake? Travel across…

For a brief period this morning, market commentators mused that the BoJ could announce the next rate hike of the cycle as soon as October. That conclusion was drawn from what appeared to be a slightly more hawkish then expected outcome to today’s BoJ policy meeting. This speculation was quickly quashed by comments from BoJ Governor Ueda in his press conference suggesting that he does not see the BoJ as being ‘behind the curve’ on policy tightening. Nor does he see the ‘fog suddenly lifting’ over the outlook for trade, Rabobank’s FX analyst Jane Foley reports. USD/JPY nears 150.00 as…