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The rupee pared initial gains and settled for the day in the negative territory, down 23 paise at 85.73 (provisional) against the US dollar on Monday, on weak domestic equities and a bounce back in crude oil prices. Forex traders said the rupee opened in the positive on improved global risk sentiments, however, a negative trend in domestic equities dented investor sentiments and dragged down the local unit. At the interbank foreign exchange, the rupee opened at 85.48 against the US dollar and witnessed an intra-day high of 85.44 and low of 85.77 before settling at 85.73 (provisional), down 23…

The USD/CAD forecast indicates a sharp pullback from Friday’s peaks. The pair dropped last week as Trump renewed his attacks on the Fed. US data revealed that inflation rose by 0.2% compared to estimates of 0.1%. The USD/CAD forecast suggests a sharp pullback from Friday’s peaks as focus shifts back to US monetary policy. Initially, the Canadian dollar collapsed after downbeat GDP data, sending USD/CAD higher. However, it pulled back sharply after upbeat US inflation figures eased expectations for a Fed rate cut.  –Are you interested in learning more about MT5 brokers? Check our detailed guide- The pair dropped last…

Retail Sales in Germany rose 1.6% over the year in May.EUR/USD defends bids above 1.1700 following the downbeat data.Retail Sales in Germany unexpectedly dropped 1.6% month-over-month (MoM) in May, following the revised 0.6% decline reported in April, according to official data released by Destatis on Monday.The market forecast was for a 0.5% increase.On an annual basis, Retail Sales rose 1.6% in May vs. April’s 2.9% revision.Market reactionThese data has limited impact on the Euro (EUR). At the press time, EUR/USD is trading 0.04% higher on the day at 1.1725. Euro PRICE Today The table below shows the percentage change of Euro (EUR) against listed major…

The Indian Rupee weakens ahead of economic figures from India due on Monday.Indian equities lose ground due to profit-booking after the indices hit eight-month highs on Friday.The US Dollar may struggle as traders expect that the Fed will cut interest rates in September.The Indian Rupee (INR) loses ground against the US Dollar (USD) on Monday after registering gains in the previous two sessions. The NIFTY 50 trades around 25,550, declined by 0.33%, while the BSE SENSEX trades around 83,770, down by 0.34%, at the time of writing. Indian equities erase solid gains from the previous session, as traders engaged in…

Silver retreats from a high of $36.83 and trades at $36.16 as the US Dollar and yields edge higher.A bearish engulfing candle forms; weekly close above $36.00 remains key for bullish structure.A breakdown below $36.00 exposes $35.68 and $35.29; bulls must retake $36.83 to resume upside.Silver price sinks more than 1% on Friday, ahead of the weekend, after refreshing a five-day high of $36.83, ahead of $37.00. At the time of writing, XAG/USD trades at $36.16 due to a slight recovery in the US Dollar and rising US Treasury yields.XAG/USD Price Forecast: Technical outlookSilver price retreated, forming a ‘bearish engulfing’…

The Canadian Dollar sharply pared back near-term gains on Friday.US President Donald Trump has announced that his team is ending all trade talks with Canada.Canadian GDP growth contracted in April, adding further downside pressure to Loonie flows.The Canadian Dollar (CAD) backslid on Friday, falling back on a combination of weakening Canadian Gross Domestic Product (GDP) growth metrics and fresh trade tensions with US President Donald Trump. The Trump team appears to be pulling up stakes and abandoning the trade negotiation table entirely, with Donald Trump announcing that he was taking his ball and going home in a social media post…

EUR/USD pulls back to 1.1695 after hitting yearly peak above 1.1750.US core PCE inflation rises above expectations; consumer sentiment improves, weighing on Euro.ECB’s Knot sees one more cut in 2025; French inflation cools, Spain’s HICP exceeds 2%.The EUR/USD retreats from yearly highs above 1.1750, tumbling below 1.1700 despite market participants being convinced that the Federal Reserve (Fed) will cut rates at the September meeting. A mixed inflation report in the United States (US) and optimism among American consumers exerted downward pressure on the pair. At the moment, the pair trades at 1.1695, virtually unchanged.Economic data is taking center stage on…

XAU/USD falls over 1.5% as safe-haven demand wanes on global trade and geopolitical easing.US-China trade deal signed; more agreements expected before July 9, boosting sentiment.Iran signals diplomacy; Israel–Gaza war may end in two weeks, says Al Arabiya.Core PCE rose above forecasts; Fed’s Kashkari still expects two rate cuts in 2025.Gold price tumbled over 1.50% on Friday amid an improvement in risk appetite, driven by several factors. The de-escalation of the Israel–Iran conflict, the trade agreement with China, and ongoing negotiations between the United States (US) and its peers to reach commercial deals were welcomed by investors, who had previously sought…

The Dow Jones made a bullish push for the 44,000 region on Friday.Equities are on the rise as investors bank on US trade deals.Traders are hoping for three Fed rate cuts by the end of 2025, to begin in September.The Dow Jones Industrial Average (DJIA) gained ground on Friday, driven by a combination of investor expectations that the US will figure out how to secure trade deals that circumvent its own ringfence of threatened tariffs, and rising expectations of more rate cuts from the Federal Reserve (Fed) by the end of the year.In an interview with Bloomberg News, US Commerce…

AUD/USD weakens after reaching a fresh YTD high of 0.6564 on Thursday.US-China trade lifts risk sentiment, but profit taking and a firmer USD limit gains.AUD/USD is heading toward 0.6500, with bullish momentum fading above 0.6550.The Australian Dollar (AUD) is pulling back from weekly highs against the US Dollar (USD) on Friday.At the time of writing, the AUD/USD pair is trading near 0.6520, having reached an intraday high of 0.6561.AUD/USD retreats as USD regains ground and sentiment stabilizesThe US Dollar is recovering slightly after falling to three-year lows against its peers. On Friday, the Bureau of Economic Analysis released the latest…