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The Indian rupee’s recent recovery may run out of steam on Thursday on the back of a decline in Asian peers after the Federal Reserve delivered a muddled message.The Fed’s dot plot signalled dovishness, while parts of Fed Chair Jerome Powell’s remarks were read as hawkish by some analysts.The 1-month non-deliverable forward indicated the rupee will open in the 87.88-87.92 range versus the U.S. dollar, compared with 87.8150 in the previous session.The Fed delivered a 25-basis-point cut, while the dot plot projected two more reductions this year, matching what markets had largely priced in before the meeting. The policy statement…

The rupee has seen a smart turnaround after it hit an all time closing low of 88.4425 on September 11 | Photo Credit: pixelfusion3d The rupee posted its biggest single day gain in almost a month on Wednesday, buoyed by expectations that the US Fed will re-start its rate cut cycle and positive sentiment around ongoing trade tariff negotiations between India and the US.The currency (INR) closed about 24 paise stronger at 87.8150 per US Dollar (USD) against previous close of 88.05. Intraday, it touched a high of 87.71 per USD. The rupee has seen a smart turnaround after it…

The USD/CAD forecast indicates a brief rebound in the pair ahead of policy meetings. US retail sales rose by 0.6%, well above the estimate of a 0.2% increase. Data from Canada showed that inflation eased by 0.1%. The USD/CAD forecast indicates a brief rebound in the pair ahead of central bank meetings in Canada and the US. The recovery came after downbeat inflation figures from Canada and upbeat retail sales numbers from the US. –Are you interested in learning more about ETF brokers? Check our detailed guide- The dollar recovered slightly against the Canadian dollar on Tuesday after data revealed…

The rupee appreciated 25 paise to close at 87.84 (provisional) against US dollar on Wednesday, tracking a positive trend in domestic equities and supported by optimism over US–India trade negotiations. Forex traders said the Indian rupee strengthened for the fourth consecutive session on Wednesday and rose to the highest level in two and a half weeks on broad weakness of the American currency amid hopes of a US Fed rate cut. They said investors are closely following the Federal Reserve’s policy decision as dollar softness globally is triggering rupee’s strength. The market is expecting a 25-bps rate cut, and investors…

Silver price plummets to near $41.70 ahead of the Fed and BoC’s monetary policy announcement.Both the Fed and the BoC are expected to cut interest rates.Investors will also focus on the Fed’s dot plot and Summary of Economic Projections.Silver price (XAG/USD) is down almost 2% to near $41.70 during the European trading session on Wednesday. The white metal dives swiftly ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.The Fed is nearly certain to cut interest rates in its policy meeting as risks to the United States (US) labor market have increased and the impact of tariffs…

NZD/USD may target its initial barrier at 0.6000, followed by the ascending channel’s upper boundary around 0.6010.The market sentiment remains bullish as the 14-day RSI stays firmly above the 50 mark.The primary support lies at the nine-day EMA of 0.5951.NZD/USD depreciates after two days of gains, trading around 0.5970 during the European hours on Wednesday. The technical analysis of the daily chart indicates a strengthening bullish bias, as the pair moves upwards within the ascending channel pattern.The short-term price momentum is stronger as the NZD/USD pair is positioned above the nine-day Exponential Moving Average (EMA). Additionally, the bullish bias strengthens…

European Central Bank Governing Council member Jose Luis Escriva said on Wednesday,, “we need to be agile and ready to move in any direction on monetary policy.”Further commentsEven if out central scenario is materialising, that doesn’t mean the uncertainty elements have been erased.Disinflation has been a success.The situation was complex two or three years ago.The current interest rate at 2% seem reasonable to us.Risks to inflation are balanced and slightly negative for growth.Market reactionEUR/USD maintains its corrective downside following these comments, losing 0.19% so far at 1.1843. ECB FAQs The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank…

The Indian Rupee jumps to near 87.90 against the US Dollar as both the US and India signal optimism on a trade deal.US President Trump appreciated Indian PM Modi’s efforts to end the Russia-Ukraine war.Investors are certain that the Fed will cut interest rates on Wednesday.The Indian Rupee (INR) extends its upside against the US Dollar (USD) for the fourth trading day in a row on Wednesday. The USD/INR pair posts a fresh two-week high around 87.90 as the Indian Rupee strengthens, following signals from United States (US) President Donald Trump and India’s Prime Minister Narendra Modi that they will…

The Pound Sterling remains firm against its peers despite the UK core and service CPI cooling down in August.Investors expect the BoE to hold interest rates steady on Thursday.The Fed is nearly certain to cut interest rates at 18:00 GMT.The Pound Sterling (GBP) clings to Tuesday’s gains near 1.3640 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair holds onto gains as the US Dollar remains on the back foot amid firm expectations that the Federal Reserve (Fed) will cut interest rates in the monetary policy announcement at 18:00 GMT.At the time of writing,…

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 96.73, higher by 0.11 per cent. | Photo Credit: istock.com The rupee appreciated 28 paise to 87.81 against the US dollar in early trade on Wednesday, tracking the broad decline in the greenback amid hopes of a US Fed rate cut.Forex traders said investors are closely following the FED Reserve’s policy meeting as dollar softness globally is triggering rupee strength. The market is expecting a 25-bps rate cut, and investors will watch out for the Fed Chair’s speech for further guidance. At the…