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The rupee depreciated 15 paise to 88.65 against the dollar in early trade on Wednesday, weighed down by elevated crude oil prices and foreign fund outflows. Forex traders said renewed optimism over the India-US trade deal supported the domestic unit at lower levels. At the interbank foreign exchange, the rupee opened at 88.61 against the US dollar before dropping to 88.65, down 15 paise from its previous close. On Tuesday, the rupee had settled at 88.50 against the US dollar. Forex traders said the MSCI Review may result in positive foreign fund inflows. Global index provider MSCI announced the inclusion…

Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said on Wednesday, “Our best guess is the monetary policy is still restrictive, the committee is debating this.”Additional quotesIf it turns out we are no longer mildly restrictive, that has important implications for future policy.We probably had an erratic reading from Westpac Consumer Sentiment Survey, would see if it persists.Some ups, some downs in consumption readings, central case is for gradual, modest recovery.There are no levels of unemployment that will make central bank happyNew board structure well-suited for Australia, votes are unnamed to encourage debate.Some public engagement of board members has taken…

GBP/USD hit a fresh bearish challenge on Tuesday, hitting a snag and snapping a four-day winning streak. The pair remains hamstrung just south of the 1.3200 handle, and Cable traders will need a fresh shock to push Pound Sterling (GBP) bids back onto the high side.UK employment figures broadly missed the mark on early Tuesday, with the ILO Unemployment Rate rising faster than expected, and more consumers seeking unemployment benefits than markets anticipated.  Baseline wages info came in more or less as expected, but wages plus bonuses eased back more than expected, highlighting consumers’ difficulties in negotiating for higher employment…

The Euro (EUR) trades on the front foot against the British Pound (GBP) on Tuesday as the Pound comes under pressure following weak UK labor market data. At the time of writing, EUR/GBP is trading around 0.8800, up nearly 0.30% on the day.From a technical perspective, the daily chart shows that the pair remains comfortably above its key moving averages, keeping the broader outlook bullish.On the upside, immediate resistance lies near 0.8830, the November 5 high, which also marks the year-to-date peak and the highest level since April 2023. A decisive close above this zone would open the door for…

Gold (XAU/USD) is trading higher for the third consecutive day on Tuesday, with bulls pushing against the $4,150 resistance area at the time of writing.. A somewhat softer US Dollar in moderate risk-on markets is underpinning precious metals as investors await developments on US government funding.reactedThe US Dollar Index, which measures the value of the Greenback against a basket of currencies, reacted negatively to news reporting that the US Senate had reached a deal to end the largest government shutdown in history on Monday. The bill will be sent to the House, where it is expected to pass smoothly before…

The Indian rupee inched up on Tuesday, helped by modest inflows and dollar sales from state-run banks, but progress in U.S.-India trade negotiations remained the focal point for future direction, traders said.The rupee closed at 88.5675 against the U.S. dollar, up 0.1% on the day.The currency lingered near the 88.70 mark for most of the session, with dollar sales from a few foreign banks prompting an uptick in the latter half, traders said.The market took note of the optimistic remarks on U.S.-India negotiations but the reaction was muted as investors wait for concrete developments. On Monday, U.S. President Donald Trump…

Elevated crude oil prices and foreign fund outflows expected to rein in rupee’s uptrend | Photo Credit: Andrii Yalanskyi The rupee appreciated 23 paise to settle at 88.50 against the US dollar on Tuesday, amid progress on the US shutdown bill and optimism over the US-India trade deal.Forex traders said a rebound in domestic equities and optimism over a nearing US trade deal supported the local unit.However, elevated crude oil prices and foreign fund outflows weighed on investor sentiment.At the interbank foreign exchange market, the rupee opened at 88.69 against the American currency, touched an intraday high of 88.52 and…

EUR/USD remains around 1% undervalued according to our short-term fair value model, ING’s FX analyst Francesco Pesole notes.Probability of a major revamp in EUR/USD volatility remains low”That shows that the rally in the US Dollar (USD) – net of last week’s correction – has still exceeded what can be justified by market drivers like rates and equity differentials. However, the euro is lacking bullish thrust and – as discussed above – a potential end to the US shutdown is not a clear-cut USD negative.””Today’s eurozone calendar includes the ZEW surveys in Germany. These have not sent the kind of optimistic…

The rupee traded in a tight range and appreciated by 6 paise to 88.67 against the US dollar in early trade on Tuesday, as weakness of the US dollar amid concerns over the long-term health of the US economy supported the domestic unit at lower levels. Forex traders said a muted trend in domestic equities and foreign fund outflows weighed on investor sentiment. At the interbank foreign exchange market, the rupee opened at 88.79 against the US dollar, then touched 88.67, registering a gain of 6 paise from its previous close. The rupee was later trading at 88.71 against the…

EUR/USD edges lower after four days of gains, trading around 1.1560 during the Asian hours on Tuesday. The pair holds losses as the US Dollar (USD) gains support amid growing hopes that the US government shutdown resolution is nearing. The US Senate passed a funding bill in a 60–40 vote, effectively ending the 41-day shutdown, with eight Democrats joining Republicans to advance the measure, which now moves to the House for approval.US President Donald Trump, on Monday, backed a bipartisan deal to end the US government shutdown, signaling a likely reopening within days. Senate Majority Leader John Thune said he…