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Rupee strengthens against US dollar, rises 6 paise to 86.06 against US dollar. | Photo Credit: iStockphoto The rupee appreciated 6 paise to 86.06 against the US dollar in early trade on Friday on the back of a weaker greenback and a marginal drop in global crude oil prices. However, steady foreign fund outflows capped sharp gains for the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 85.99 before dropping to 86.06 against the US dollar, up 6 paise from its previous close. The rupee declined 20 paise to settle at 86.12 against the…

Federal Reserve (Fed) Bank of San Francisco President Mary C. Daly noted on Thursday that, despite overall progress on inflation and price stability, price pressures still remain a key issue for the Fed, making it difficult to move policy rates amid ongoing turmoil at the outer edges of economic data.Key highlightsStill have some work to do on inflation.We have solid growth, solid labor market.What’s bothersome still is we haven’t achieved price stability.Focus is on inflation; other things don’t distract us.Policy, economy in a good place.Rates have been restrictive for a significant number of years.June’s Consumer Price Index (CPI) showed some…

The US Dollar regains ground as US President Donald Trump walks back the threat to remove Fed Chair Jerome Powell.The US Dollar Index trades near three-week highs, buoyed by sticky inflation and stable Treasury yields.Technical breakout signals bullish momentum, with upside targets at 99.50 and the psychological 100.00 level.The US Dollar (USD) gains positive traction on Thursday, recovering from a brief wobble late Wednesday after reports emerged that US President Donald Trump was considering firing Federal Reserve (Fed) Chair Jerome Powell. Market tensions eased after Trump walked back the threat, stating it was “highly unlikely” that he would dismiss Powell.…

USD/CHF gains as US Retail Sales support a hawkish Fed stance.Expectations that the Fed will cut rates in September decline, central bank divergence supports USD/CHF strength.USD/CHF eyes further gains as bearish momentum fades above 0.8000The US Dollar (USD) is firming against the Swiss Franc (CHF) as upbeat US economic data and hawkish Federal Reserve (Fed) comments support demand for US yields.Retail Sales data on Thursday reflected an increase in consumer spending for June, coming in at 0.6%, above the expected 0.1% rise. The upside surprise in spending, despite tariff uncertainty and high interest rates, has provided a glimmer of hope…

Gold price recovers a portion of losses after a rejection of $3,300.Interest rate expectations and rising yields support the Dollar, limiting bullion gains.XAU/USD bulls and bears battle to push the price out of its narrow range.Gold (XAU/USD) is experiencing a pullback on Thursday as traders digest US Retail Sales data and await further comments from Federal Reserve (Fed) officials. The yellow metal trades near $3,335 at the time of writing, down 0.30% on the day.With the timing of when the Federal Reserve will cut interest rates still uncertain, several members of the central bank are scheduled to speak throughout the…

US jobless claims fall to 221K, while retail sales rise 0.6% in June.Fed’s Kugler signals no rush to cut rates amid tariff-driven inflation.UK labor market cools less than expected, but Sterling remains pressured.GBP/USD drops during the North American session on Thursday. The pair edged down 0.07% following the release of strong US economic data, which boosted the US Dollar (USD) and pushed it to a new July high as it recovers some ground at the beginning of the second half of the month. At the time of writing, the pair trades at 1.3408.Cable drops to 1.3408 as jobless claims and…

The rupee declined 15 paise to settle at 86.07 (provisional) against the US dollar on Thursday amid a stronger greenback, outflow of foreign funds and volatile global crude oil prices. Selling trend in the domestic equity markets and uncertainties over the outcome of the ongoing India-US trade talks further pressured the rupee, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.93 against the US dollar and traded in the range of 85.80-86.09 during the day before settling at 86.07 (provisional), down 15 from its previous close. The rupee had declined 16 paise against the US…

The Indian rupee weakened past a key support level on Thursday to hit a three-week low, pressured by a broadly stronger dollar, even as exporter dollar sales and portfolio inflows helped the local currency limit its losses. The rupee closed at 86.0750 against the U.S. dollar, down from its close at 85.94 in the previous session. While the rupee had steadied below the 86 mark earlier in the day, it fell to a low of 86.09 towards the close of the session.Traders cited dollar sales from exporters and foreign banks, likely on behalf of custodial clients, which helped limit the…

The AUD/USD forecast indicates a surge in RBA rate cut bets. Australia’s economy added only 2,000 jobs, compared to the forecast of 21,000. Reports revealed that Trump was planning to fire Powell. The AUD/USD forecast indicates a surge in RBA rate cut bets after a downbeat jobs report from Australia. Meanwhile, in the US, tensions between Trump and Powell continue to simmer. However, Fed rate cut bets have eased since the upbeat consumer inflation report on Tuesday. –Are you interested in learning more about Forex robots? Check our detailed guide- Data released on Thursday revealed that Australia’s economy added only…

Rupee strengthens against US dollar amid global oil price drop and India-US trade talks, despite FII outflows. | Photo Credit: iStockphoto The rupee rose 12 paise to 85.80 against the US dollar in early trade on Thursday amid a drop in global crude oil prices and a hope of a breakthrough in the ongoing India-US trade talks. However, a strengthening dollar against overseas currencies and FII outflows prevented sharper gains in the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened weaker at 85.93 against the US dollar but moved into positive territory to 85.80,…