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The Indian rupee is poised to retain its weakening bias on Monday, pressured by broad losses in regional peers, lacklustre foreign equity inflows and persistent dollar demand from local corporates.The 1-month non-deliverable forward indicated a flat-to-slightly-weaker open on Monday from 86.1475 in the previous session. The rupee has slipped near to 1 per cent in the last two weeks and now hovers near its lowest level in almost a month.With the dollar/rupee pair “having clipped past 86, it looks like we’re in a slow push higher,” said a currency trader at a Mumbai-based bank.”Right now, I don’t see anything that…

India’s foreign exchange reserves fell by $3.06 billion to $696.67 billion for the week ending July 11, marking the second straight week of decline, according to the official data released by the Reserve Bank of India (RBI).In the previous reporting week of July 4, the country’s forex reserves witnessed a slip of $3.049 billion to $699.736 billion. In the week ending July 11, foreign currency assets, which are the major constituent of the forex reserves, fell $2.477 billion to $588.81 billion, possibly becoming the major reason for the fall in the forex reserves. Gold reserves, another major component of the…

Fed’s Waller supports July rate cut, pulling Treasury yields and Dollar lower.UoM survey shows improved sentiment and easing inflation expectations in the US.ECB decision, EU PMIs, and US macro data in focus for the week ahead.The EUYR/USD finished Friday’s session with gains of over 0.26% amid a weaker US Dollar, following dovish comments by Fed Governor Christopher Waller, which weighed on US Treasury yields. Still, an improvement in Consumer Sentiment capped the Euro’s gains, with the pair trading at 1.1626 at the time of writing.Wall Street ended the session on a higher note, as investors cheered comments by Waller, who…

According to the Financial Times, US President Donald Trump has escalated his demands to the European Union (EU), eyeing at least a minimum tariff of 15% to 20% in a deal with the Eurozone, revealed three people briefed on talks.Key quotes:The US president’s hardened stance aims to test the EU’s pain threshold after weeks of talks on a framework agreement that would have maintained a baseline tariff of 10% on most goods.People familiar with the negotiations say Trump has also been unmoved by the latest EU offer to reduce car tariffs, and would be happy to keep duties on the…

Silver (XAG/USD) is holding firm near $38.00 after hitting a 14-year high earlier this week.The metal remains supported by an ascending channel on daily and weekly charts.RSI and ADX on the daily chart are turning higher, signaling a possible return in bullish momentum.Silver (XAG/USD) is treading water on Friday, with spot prices hovering near $38.25 after marking a fresh 14-year high of $39.13 earlier this week. The metal continues to draw support from a firmly bullish structure, trading within a well-defined ascending channel on both the daily and weekly charts. While momentum has cooled slightly near multi-year highs, the broader…

Gold boosted as Fed’s Waller supports July rate cut, boosting Gold as yields decline.US Dollar Index slips to 98.48, enhancing appeal of Dollar-denominated Bullion.UoM survey shows improved sentiment and easing long-term inflation expectations.Gold price advances during the North American session on Friday as the US Dollar weakens, with traders booking profits ahead of the weekend. Additionally, a Fed Governor’s comments turned more dovish than expected, supporting a rate cut in July. At the time of writing, the XAU/USD trades at $3,353, up 0.43%.The market mood is upbeat after the University of Michigan (UoM) revealed that Americans have become optimistic about…

NZD/USD rebounds toward clustered resistance as New Zealand CPI looms.New Zealand inflation is expected to set the tone for the cautious RBNZ while dovish Fed Waller increases expectations of a September rate cut.NZD/USD approaches moving average resistance with price action vulnerable to upcoming CPI.The New Zealand Dollar (NZD) is strengthening against the US Dollar (USD) on Friday as investors reposition expectations of US interest rates and look ahead to New Zealand’s upcoming inflation data.At the time of writing, NZD/USD is trading near 0.5960 with intraday gains of 0.50%. New Zealand inflation is expected to set the tone for the cautious…

The US Dollar stabilizes after intraday selloff, supported by strong US data and tempered Fed interest rate cut expectations.US Treasury yields dip from recent highs, amplifying pressure on the Greenback.The technical setup on DXY indicates fading momentum below the 50-day EMA following a breakout from a falling wedge.The US Dollar is steadying after a brief selloff earlier in Friday’s session. The Greenback remains supported by robust US economic data this week, which has lowered the odds of immediate interest rate cuts by the Federal Reserve (Fed).The US Dollar Index (DXY), which tracks the Greenback against a basket of six major…

Gold price remains rangebound as rate expectations influence yields and bullion demand.Resilient US housing data and rising Michigan Sentiment data fail to lift the Dollar but risk-on sentiment limits gains for Gold.XAU/USD consolidation build between the $3,300 – $3,370 range.Gold (XAU/USD) is trading higher on Friday as investors remain focused on Fed expectations US economic data. At the time of writing, XAU/USD recovers above $3,350, pushing the price closer toward the upper boundary of a symmetrical triangle pattern.Traders are digesting fresh US housing data released on Friday, with Building Permits and Housing Starts for June providing further insight into the…

Japan’s upcoming elections and political risk add to USD/JPY price action.USD/JPY trades with view to risks of a double-top building.Monetary and fiscal policy remain key drivers for the USD/JPY pair. The Japanese Yen (JPY) is trading in a narrow range against the US Dollar on Friday, with monetary policy and political factors influencing the pair. At the time of writing, USD/JPY is trading above 148.00 as traders look ahead to Japan’s upcoming election.Risks from Japan’s election feature in USD/JPY price actionThe upcoming July 20 Upper House election in Japan has injected fresh uncertainty into currency and bond markets. Prime Minister…