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The GBP/USD price analysis suggests a longer delay in Bank of England rate cuts. Inflation in the UK accelerated from 3.6% to 3.8%. Traders are awaiting the FOMC minutes. The GBP/USD price analysis suggests a longer delay in Bank of England rate cuts as UK inflation remains high. As a result, the pound recovered from its previous day’s decline. Meanwhile, the US dollar held steady against most of its peers ahead of the FOMC minutes and the Jackson Hole symposium. –Are you interested to learn more about forex options trading? Check our detailed guide- Data on Wednesday revealed that inflation…
The Indian rupee slipped on Wednesday, as corporate hedging and short-term speculators bolstered demand for the greenback, most of which was met by dollar sales by foreign banks. The rupee settled at 87.0650 to the U.S. dollar against its close of 86.9500 on Tuesday when it climbed the most in over a month, boosted by speculation over Russia-Ukraine peace talks. Traders said foreign banks were active sellers of dollars on Wednesday, limiting rupee depreciation despite significant hedging by importers.A rally in local equities and position squaring also helped the Indian currency recover after recent pressure, traders said. Recent weeks have…
Forex traders said investors are taking a cautious approach as the market eyes potential Russia-Ukraine talks | Photo Credit: iStockphoto The rupee was trading in a tight range and depreciated 3 paise to 87.16 against the US dollar in early trade on Wednesday, tracking weak Asian peers and a negative trend in domestic equities. Forex traders said investors are taking a cautious approach as the market eyes potential Russia-Ukraine talks. Moreover, traders are awaiting cues from the US Federal Reserve Chief Jerome Powell’s speech on the path of monetary policy at the Jackson Hole Symposium this weekend. At the interbank…
The Indian rupee’s rally to a three-week high is at risk of stalling on Wednesday, pressured by a decline in Asian currencies and lacklustre equity flows.The 1-month non-deliverable forward indicated the rupee will open in the 87.10-87.14 range versus the US dollar, compared with 86.95 on Tuesday, when it hit a three-week high of 86.92.Unwinding of long-dollar positions, Prime Minister Narendra Modi’s planned tax cuts and cautious optimism on the Ukraine-Russia front drove the rupee to its best day in seven weeks on Tuesday.The “washout” of dollar longs has left positioning much lighter, and it won’t be a driver for…
Upgrade of India’s rating by S&P Global Ratings last week has whetted FPIs’ investment appetite for Indian equities. | Photo Credit: REUTERS The rupee recorded its biggest single-day gain in over a month, strengthening below the 87 mark on Tuesday, as foreign portfolio investors (FPIs) stepped up buying in the Indian equity market amid expectation that the US may have a re-think on additional levies on India’s exports to that country. The rupee appreciated 40 paise to close at 86.95 per dollar against the previous close of 87.35.The FPI buying action in the equity market came on the hopes that…
The rupee appreciated 40 paise to close at 86.99 (provisional) against the US dollar on Tuesday, supported by optimism over GST restructuring and positive domestic equity markets. Forex traders said rupee is expected to trade with a positive bias as easing worries over additional tariffs by the US boosted market sentiments after the meeting between US President Donald Trump and Russian President Vladimir Putin. At the interbank foreign exchange market, the rupee opened at 87.24 against the US dollar, touched an intraday low of 87.31 and a high of 86.92, and settled at 86.99 (provisional), registering a gain of 40…
The USD/CAD outlook shows the Canadian dollar weakening ahead of crucial inflation figures. Traders are anticipating policy clues at the Jackson Hole symposium. The US will guarantee the country’s safety in the event of a peace deal. The USD/CAD outlook deteriorates as the Canadian dollar weakens ahead of crucial inflation figures from Canada. Meanwhile, the dollar remained strong as traders watched developments in peace talks to end the war in Ukraine. –Are you interested to learn more about forex options trading? Check our detailed guide- Canada is set to release pivotal inflation figures that will shape the outlook for Bank of…
US Dollar (USD) is likely to trade in a range between 7.1780 and 7.1950. In the longer run, USD is expected to trade in a range of 7.1730/7.2000, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. USD is expected to trade in a range24-HOUR VIEW: “We noted yesterday that ‘there has been a slight increase in upward momentum.’ However, we were of the view that ‘this is likely to lead to a higher range of 7.1800/7.1950 instead of a continued advance.’ Our view did not materialise, as USD traded in a tight range of 7.1792/7.1884, closing largely…
As the figures for the 10 non-ferrous metals already indicated, refined Copper production in China continued to rise in July, Commerzbank’s FX analyst Volkmar Baur notes. China produces 50% of the world’s refined Copper “At 1.27 million tons, monthly production was – in non-seasonally adjusted terms – slightly below the previous month’s record. Nevertheless, the July figure is still the second highest ever reported for a single month. Looking at the past twelve months (from August 2024 to July 2025 inclusive), 14.38 million tons of refined Copper were produced, more than in any previous 12-month period.””The production figures for refined…
The Pound bounces at 1.3585, and returns to 1.3525 but remains within a bearish channel from Last Friday’s highs.Investors are dialing down GBP short bets with July’s UK CPI data in focus.UK inflation is expected to have accelerated to a 3.7% yearly rate, the highest reading in almost two years.The Pound is retracing some losses on Tuesday with the US Dollar pulling back from recent highs amid a moderately positive market sentiment, and investors looking at Wednesday’s UK CPI reading that might give further reasons to BoE hawks.The GBP/USD pair has bounced up from intra-day lows at 1.3485 to reach…