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Bank of England (BoE) rate-setter Alan Taylor noted late on Friday that downside pressures are continuing to build up underneath the UK’s economy, signaling that early rate cuts may be needed ahead of a questionable forecasting period.Key highlightsWould expect bank rate to normalise close to 2.75%, absent shocks.Would expect bank rate, should MPR inflation projections be close to what we actually see, at around 3% by end of 2026.Better to cut rate now and hold for longer later rather than hold too long and cut in a hurry.Disinflationary forces are building this year.Insurance against deteriorating demand is advisable.A soft landing…

The rupee appreciated 16 paise to close at 85.39 (provisional) against the US dollar on Friday, tracking a decline in the American currency in the overseas market and a weak tone in crude oil prices. Forex traders said Asian currencies, including the rupee, gained ground on renewed hopes of trade deals with the US. US President Donald Trump announced a trade agreement with Vietnam, and that injected a dose of optimism that perhaps more such agreements could be in the pipeline before the crucial July 9 deadline, according to forex traders. At the interbank foreign exchange, the domestic unit opened…

The Indian rupee witnessed muted price action on Friday to end the week little changed as traders awaited developments in U.S.-India trade talks, with a positive outcome potentially helping the local currency break past a sticky resistance level. The rupee closed at 85.3925, down about 0.1% each on the week and day. The currency had risen to a one-month peak of 85.25 in the previous session but pared gains on Friday after traders scaled back wagers on rate cuts by the Federal Reserve following a stronger-than-expected U.S. labour market report.On the day, routine dollar demand from importers weighed on the…

Silver consolidates just below its highest level in more than two weeks set on Thursday.The mixed technical setup warrants some caution before placing fresh directional bets.Any corrective slide might still be seen as a buying opportunity and remain cushioned.Silver (XAG/USD) holds steady below the $37.00 mark during the Asian session on Friday and remains within striking distance of over a two-week high touched the previous day. Meanwhile, the constructive technical setup suggests that the path of least resistance for the white metal remains to the upside. The daily Relative Strength Index (RSI, 14) remains above 50 and validates the positive…

FX option expiries for Jul 4 NY cut at 10:00 Eastern Time vi a DTCC can be found below.EUR/USD: EUR amountsUSD/JPY: USD amounts                                 USD/CHF: USD amounts     AUD/USD: AUD amounts0.6400 995m0.6500 1.6b0.6600 2.9b Source

Gold prices rose in India on Friday, according to data compiled by FXStreet. The price for Gold stood at 9,179.10 Indian Rupees (INR) per gram, up compared with the INR 9,139.19 it cost on Thursday. The price for Gold increased to INR 107,063.80 per tola from INR 106,597.70 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 9,179.10 10 Grams 91,792.59 Tola 107,063.80 Troy Ounce 285,505.00   Gold daily digest market movers: Can Thursday’s data sway the Fed and drive bullion? The ADP Employment Change report released on Wednesday showed that the employment situation in the private…

Gold price regains positive traction and reverses a part of Thursday’s upbeat NFP-inspired losses.US fiscal concerns weigh on the USD and lend support to the commodity amid trade uncertainties.Holiday-thinned liquidity might hold back the XAU/USD traders from placing fresh directional bets.Gold price (XAU/USD) maintains its bid tone through the first half of the European session on Friday, though it remains below a one-week high touched the previous day. The US Dollar (USD) struggles to capitalize on the upbeat US NFP-inspired rally on Thursday amid concerns that US President Donald Trump’s ‘One Big Beautiful Bill’ would worsen the country’s fiscal situation.…

The Australian Dollar declines against the US Dollar as solid US labor market data weaken hopes of Fed rate cuts.The House of Representatives passed President Trump’s “One Big Beautiful Bill Act, and sent it to him for signing into law.The US Nonfarm Payrolls came in at 147,000 new jobs added in June, exceeding the expected 110,000.The Australian Dollar (AUD) extends its losses against the US Dollar (USD) on Friday, as stronger-than-expected US job growth and a surprise drop in the unemployment rate data overshadow investors’ hopes for a Federal Reserve (Fed) interest rate cut.The US Nonfarm Payrolls (NFP) took center…

The rupee rose to a peak of 85.20, its best level since late May, before ending the session at 85.31, up 0.4% on the day. The Indian rupee touched its strongest level in a month on Thursday, lifted by dollar sales from foreign banks and cutting of bearish bets on the local currency, while optimism surrounding a US-India trade deal also aided sentiment.The rupee rose to a peak of 85.20, its best level since late May, before ending the session at 85.31, up 0.4 per cent on the day.Dollar sales from foreign banks in the latter half of Thursday’s session…

The rupee pared initial losses and jumped 31 paise to close at 85.31 (provisional) against the US dollar on Thursday, following a weak greenback against major crosses overseas and a decline in US treasury yields.Forex traders said the dollar declined on weaker-than-expected ADP Non-Farm Employment data from the US.A decline in global crude oil prices also supported the local unit, they added.At the interbank foreign exchange, the domestic unit opened at 85.69 against the American currency and touched an intra-day high of 85.19 and a low of 85.70 during the session.The local unit finally settled at 85.31 (provisional), 31 paise…