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WTI Crude trades in a tight range near $64.50, consolidating after a sharp drop triggered by the Iran–Israel ceasefire.Geopolitical risk premiums unwind, with traders cautious ahead of the July 6 OPEC+ meeting.The EIA report is due later on Wednesday, last week’s 3.5 million barrel draw was smaller than expected.West Texas Intermediate (WTI) Crude Oil continues to trade in a narrow range on Wednesday, consolidating after a sharp selloff triggered by the Iran–Israel ceasefire, as geopolitical risk premiums unwind and traders reposition ahead of the upcoming Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting. While the initial drop erased…

The USD/CAD price analysis shows stronger bullish sentiment as the dollar recovers. The JOLTS report revealed that job openings in the US rose to 7.77 million. Economists expect slower US job growth in June and for the unemployment rate to jump from 4.2% to 4.3%. The USD/CAD price analysis shows stronger bullish sentiment as the dollar recovers on signs of strength in the US labor market. However, market participants are still awaiting the crucial monthly employment report for more clues on the outlook for Fed rate cuts.  –Are you interested in learning more about MT5 brokers? Check our detailed guide-…

The rupee depreciated 9 paise to close at 85.68 (provisional) against US dollar on Wednesday, on weak domestic equity markets and a rise in crude oil prices. Forex traders said a slight recovery in the US dollar too weighed on the rupee as market players await the conclusion of India-US trade deal, which is at its final stage. At the interbank foreign exchange, the domestic unit opened at 85.59 against the greenback and touched an intra-day high of 85.57 and a low of 85.75 against the greenback during the day. At the end of Wednesday’s trading session, the local unit…

The EUR/USD forecast indicates a rebound in the dollar after upbeat employment figures. Job vacancies in the US exceeded the estimated number. Powell did not rule out the possibility of a rate cut at the next meeting. The EUR/USD forecast indicates a rebound in the dollar after upbeat employment figures in the previous session. However, a growing policy divergence between the Fed and the ECB has kept the pair bullish. The Fed is becoming increasingly dovish and is more inclined to cut interest rates. On the other hand, the ECB seems comfortable with pausing.  –Are you interested in learning more…

EUR/JPY rises as the Japanese Yen weakens due to Trump’s consideration of additional tariffs of 30% or 35% on Japan.The Japanese Yen also faces challenges due to the BoJ’s caution over interest rate hikes.ECB’s Lane said that the central bank must stand ready to counter any deviation in CPI.EUR/JPY retraces its recent losses from the previous session, trading around 169.40 during the early European hours on Wednesday. The currency cross maintains its position near 169.86, the highest since July 2024, which was recorded on June 30, 2025.The EUR/JPY cross gains ground due to the weaker Japanese Yen (JPY), driven by…

Gold price edges lower on Wednesday amid a modest USD recovery from a multi-year low. A positive risk tone further fails to assist the commodity to build on its two-day-old uptrend.Fed rate cut bets should cap the USD and support the XAU/USD pair amid trade uncertainties.Gold price (XAU/USD) trades with a mild negative bias during the early European session on Wednesday and for now, seems to have snapped a two-day winning streak to a one-week top touched the previous day. The US Dollar (USD) ticks higher and moves away from a three-and-a-half-year low, which, in turn, undermines the commodity. Moreover,…

Puzzle-shaped 100 American dollar banknote and gold-colored Indian Rupee symbol. On a charcoal green-colored background. Horizontal composition with copy space. Isolated with clipping path. | Photo Credit: Baris-Ozer The rupee traded in a narrow range and depreciated 4 paise to 85.63 against the US dollar in early trade on Wednesday, as market awaits the conclusion of India-US trade deal, which is at its final stage.Forex traders said the dollar index continued to remain under pressure against major peers as traders considered the dovish hints from FED chair Jerome Powell.At the interbank foreign exchange, the domestic unit opened at 85.59 against…

GBP/USD slips 0.07% after hitting 1.3788; stalls just shy of psychological 1.3800 level.US JOLTS job openings hit 7-month high; ISM manufacturing improves slightly but remains in contraction.BoE’s Bailey signals softening labor market; UK Manufacturing PMI holds steady at 47.7.The Pound Sterling (GBP) loses ground versus the US Dollar after hitting a new three-year peak of 1.3788, just shy of the 1.3800 figure. Economic data from the United States (US), along with dovish comments of the Bank of England’s (BoE) Governor Bailey, exerted downward pressure on the pair. The GBP/USD trades at 1.3721, down a minimal 0.07%.Sterling retreats to 1.3721 after…

The Euro rose to 1.1830, its highest level since September 2021, before easing slightly.Eurozone CPI hits 2.0%, matching ECB’s target, core Inflation steady at 2.3%.US ISM PMI and JOLTS Job Openings beat forecasts, lifting the US Dollar Index.The Euro (EUR) edges modestly lower against the US Dollar (USD) during the American session on Tuesday, after briefly rising above the 1.180 mark earlier in the day, its highest level since September 2021. The Euro found support from signs that inflation in the Eurozone is stabilizing, boosting investor confidence in the region’s economic outlook.At the time of writing, EUR/USD is hovering near…

USD/CAD rises as Fed Powell’s comments at the ECB Forum raise expectations of a rate cut in September.Fed Chair Powell: “As long as the US economy is in a solid shape, the prudent thing to do is wait.”The US ISM Manufacturing PMI and JOLTS job data beat expectations, reflecting a more resilient US economy.The Canadian Dollar (CAD) is edging lower against the US Dollar (USD) on Tuesday, as traders digest the latest remarks from Federal Reserve (Fed) Chair Jerome Powell. Central bank speakers gather at the European Central Bank (ECB) Forum in Sintra, Portugal, providing insight into monetary policy.As of this…