Author: admin
The rupee pared initial gains and settled for the day lower by 18 paise at 87.25 (provisional) against US dollar on Thursday, on a strong American currency and a recovery in crude oil prices.Forex traders said, rupee opened on a positive note with the rise in risk appetite in the global markets amid easing tensions over trade tariffs and hopes of truce between Russia and Ukraine.However, the strength of the American currency in the overseas market and rising crude oil prices dented investor sentiments and restricted the upmove in the local unit.At the interbank foreign exchange market, the rupee opened…
The Indian rupee fell on Thursday as aggressive dollar buying by oil importers towards the end of the session pressured the local currency even as persistent greenback sales by foreign banks helped offset some of the losses. The Asian currency closed 0.24% lower at 87.2700 per U.S. dollar on Thursday against its previous close of 87.0650. “There were some debt inflows which had masked the impact, but with that done, we saw the impact of dollar bids,” a trader with a brokerage said.Meanwhile, foreign banks were on the offer side in the dollar/rupee pair again for most part of the…
Gold price stays subdued with limited downside. Fed policy signals weighed on the gold as bets for aggressive easing faded. Markets now eye the Fed Chair speech and the Jackson Hole Symposium. Gold price stays under pressure in the early European session on Thursday with limited downside, as investors weigh Fed policy signals against persistent geopolitical risks. The precious metal trades near recent lows, failing to build on Monday’s rebound as the greenback soars to a one-and-a-half-week high. –Are you interested to learn more about forex options trading? Check our detailed guide- The US dollar’s strength stems from diminishing expectations…
Gold drifts lower on Thursday as hawkish FOMC Minutes continue to underpin the USD.Hopes for a Russia-Ukraine peace deal further exerted pressure on the XAU/USD pair.The global PMIs could drive the commodity ahead of Fed Chair Powell’s speech on Friday.Gold (XAU/USD) maintains its offered tone through the first half of the European session on Tuesday, though it lacks follow-through selling amid mixed cues. The US Dollar (USD) regains positive traction and advances to a one-and-a-half-week high amid diminishing odds for a more aggressive policy easing by the Federal Reserve (Fed). This, in turn, is seen as a key factor driving…
The rupee appreciated 14 paise to 86.93 against the US dollar in early trade on Thursday, on positive domestic equities and a rise in risk-on sentiments. Forex traders said the rupee is trading with a positive bias on a rise in risk appetite in the global markets amid hopes of peace between Russia and Ukraine. Moreover, investors are awaiting cues on the geopolitical front as well as the US FED stance on interest rates. At the interbank foreign exchange, the rupee opened at 87.04, then touched an early high of 86.93, registering a gain of 14 paise over its previous…
The Bank of Japan (BoJ) will raise the interest rate by at least 25 basis points (bps) again by the year-end, according to nearly two-thirds of economists in a Reuters poll, up from just over half a month ago.Additional takeaways67 of 73 economists (92%) expect no change at next policy meeting in September.45 of 71 economists (63%) expect BOJ to raise rates to 0.75% in Q4 2025 (up from 54% last month).Of 40 economists specifying a timeline for the BOJ to move, 38% see the move coming in October, 18% in December, 30% for January next year.22 of 29 economists…
The Dow continues to grapple with the 45,000 region heading through the midweek.Tech stocks saw fresh declines early on Wednesday as investors reconsidered sky-high valuations.Policymaker sentiment will take a front seat heading into the annual Jackson Hole central banking summit.The Dow Jones Industrial Average (DJIA) faced fresh bearish pressures on Wednesday, with the major equity index getting dragged lower in early trading as tech stocks saw further profit-taking. The Dow recovered most of its footing through the midweek market session, but investors remain tightly wound ahead of a large swath of central bank jawboning and business sentiment figures set to…
The Minutes of the Fed’s July 29-30 policy meeting will be published on Wednesday.Details surrounding the discussions on the decision to keep policy unchanged will be scrutinized by investors.Markets widely expect the Fed to opt for a 25 bps rate cut in September. The Minutes of the United States (US) Federal Reserve’s (Fed) July 29-30 monetary policy meeting will be published on Wednesday at 18:00 GMT. The US central bank decided to maintain the policy rate in the range of 4.25%-4.5% at this meeting, but Fed Governors Christopher Waller and Michelle Bowman dissented, preferring to lower the fed funds rate by…
The USD/CAD forecast shows a weak Canadian dollar as BoC rate cut bets rise. Inflation in Canada eased to 1.7% in July from the previous reading of 1.9%. Oil has dropped amid progress in peace talks with Russia and Ukraine. The USD/CAD forecast shows a weak Canadian dollar as BoC rate cut bets rise after soft inflation figures from Canada. At the same time, the loonie is declining due to a drop in oil prices amid peace talks between the US, Russia, and Ukraine. –Are you interested to learn more about forex options trading? Check our detailed guide- Data on…
Gold is trimming losses after a two-day reversal, but the broader trend remains negative.Risk aversion after Wall Street’s sell-off and lower geopolitical optimism is supporting the precious metal’s recovery.XAU/USD approaches the top of a descending wedge pattern, at $3,335.Gold (XAU/USD) is trimming some losses on Wednesday, drawing support from the sour market sentiment. The precious metal has bounced from two-week lows right above $3,300, but remains capped below previous support at the $3,330 area, which leaves the broader bearish trend intact. Bullion is drawing support from the sourer market sentiment, with equity markets in red after a sell-off in Wall…