Author: admin

Sterling rallies during the North American session, up over 0.68% after the Federal Reserve delivered as expected a 25-basis points rate cut and a softer than expected jobs report, weighed on the Dollar. At the time of writing, the GBP/USD trades at 1.3417 after bouncing off daily lows of 1.3354.Pound rallies after the Fed delivers a widely expected rate cut, soft US labor data deepens bets on further easingUS Initial Jobless Claims for the week ending December 6 increased by 236K up from the previous week upward revised figures to 192K, revealed the Department of Labor. Continuing Claims for the…

The Pound Sterling (GBP) trades close to a fresh seven-week high around 1.3400 against the US Dollar (USD) on Thursday. The GBP/USD pair trades firmly as the US Dollar struggles to gain ground following the Federal Reserve’s (Fed) rate cut on Wednesday.The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades vulnerably near a seven-week low of 98.54 posted earlier in the day.On Wednesday, the Fed lowered the Federal Fund Rate by 25 basis points (bps) to 3.50%-3.75%, as expected, and the dot plot signaled that there will be one interest rate cut in 2026.The…

The rupee plunged 54 paise to an all-time low of 90.48 against the US dollar in intra-day trade on Thursday after reports surfaced that the India-US trade deal is likely by March 2026.Forex traders said the rupee fell to a new all-time low of 90.48 after Chief Economic Advisor V Anantha Nageswaran reportedly said the India-US trade deal is likely to be inked by March.Moreover, prevailing risk-averse market sentiment, compounded by strong US dollar demand from importers, dented investor sentiment.At the interbank foreign exchange, the rupee opened at 89.95 against the US dollar, then lost ground and fell to a…

 At the interbank foreign exchange, the rupee opened at 89.95 against the US dollar, then lost ground and fell to a record intra-day low of 90.48, registering a 54-paise decline from its previous close. | Photo Credit: istock.com The rupee plunged 39 paise to close at an all-time low of 90.33 (provisional) against the US dollar on Thursday amid uncertainty over the India-US trade deal. Forex traders said the rupee is expected to trade with a negative bias as the delay in the trade deal between India and the US may continue to dent investor confidence. Moreover, prevailing risk-averse market…

The Indian rupee slipped to a record low on Thursday, deepening its slide past the 90 per dollar mark as the absence of a trade deal with the U.S. continued to weigh and corporate dollar outflows added to the pressure.The rupee weakened to 90.4675 against the U.S. dollar, eclipsing its previous all-time low of 90.42 hit on December 4.On Thursday, the central bank likely intervened to help the rupee avert steeper losses, five traders told Reuters.One of the traders characterised the central bank’s intervention as mild and likely intend to slow the rupee’s fall instead of holding it at a…

Investors watching the rupee weaken past 90 to the dollar have a new marker to assess: Goldman Sachs believes the currency’s worst phase of underperformance is largely behind it, even as India’s external balances remain under strain and tariff uncertainty clouds the outlook. The brokerage argued that while flows have deteriorated meaningfully, India’s underlying external metrics still compare favourably with past stress episodes, offering a more tempered reading of the rupee’s slide than market sentiment suggests.Goldman Sachs attributed the rupee’s slide, including last week’s breach of 90 and its roughly 5% year-to-date depreciation, to weakening balance-of-payments dynamics and “reduced RBI…

The Japanese Yen (JPY) stalls its intraday pullback against the rebounding US Dollar (USD) and trades with a mild positive bias during the first half of the European session on Thursday. This marks the second straight day of the uptick and is sponsored by the growing acceptance of an imminent interest rate hike by the Bank of Japan (BoJ). This marks a significant divergence compared to dovish US Federal Reserve (Fed) expectations, which caps the attempted USD recovery and acts as a headwind for the USD/JPY pair.Meanwhile, expanded fiscal spending under Prime Minister Sanae Takaichi’s administration has exacerbated concerns about…

The Indian rupee weakened on Thursday, weighed down by outflows tied to near-term dollar payments by local corporates, which offset the positive impulse from the Federal Reserve’s rate cut and less-hawkish-than-anticipated commentary. The rupee weakened nearly 0.3% to 90.21 against the U.S. dollar, as of 10:30 a.m. IST. A sharply divided U.S. Fed cut interest rates on Wednesday but signalled borrowing costs are unlikely to drop further in the near term.Asian currencies were trading mixed on Thursday, while the dollar index recouped some losses after dropping to a near two-month low following the Fed’s rate decision. Weakness in the greenback…

The rupee depreciated 17 paise to 90.11 against the US dollar in early trade on Thursday as prevailing risk-averse market sentiment, compounded by a high US dollar demand from importers, dented investor sentiments. Forex traders said the rupee is likely to trade with a negative bias on muted domestic markets and sustained foreign fund outflows. Moreover, investors are also awaiting cues from the US-India trade talks, which could boost the rupee in the coming days. At the interbank foreign exchange, the rupee opened at 89.95 against the US dollar, then lost ground and fell to 90.11 against the American currency,…

Silver Price (XAG/USD) retraces to near $62.00 during the Asian trading session on Thursday after posting a fresh all-time high at $62.87 earlier in the day. The white metal’s rally hits a temporary roadblock, while its outlook remain firm as the Federal Reserve (Fed) keeps the door open for further monetary easing after reducing interest rates by 25 basis points (bps) to 3.50%-3.75% on Wednesday.In the policy meeting, the Fed stated that extent and timing of additional adjustments to the target range for Federal funds rates will be dependent on incoming data. On the contrary, market participants anticipated that the…