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a EUR/USD climbs to 1.1730, trades near 1.1700, up 0.20% on the day.US Treasury Secretary Scott Bessent urges a 50 bps September cut, says rates should be 150–175 bps lower.Markets price in 98% odds of a Fed 25 bps cut, 2% for 50 bps.Geopolitical optimism over a possible Ukraine–Russia resolution adds EUR/USD upside bias.EUR/USD surges on Wednesday, hitting a two-week high at around 1.1730 as the US Dollar (USD) gets battered, sponsored by traders speculating that the Federal Reserve (Fed) might turn dovish following remarks by US Treasury Secretary Scott Bessent. At the time of writing, the pair trades at…

The US Dollar (USD) intensified its weakness on Wednesday, receding to two-week lows as investors continued to price in further rate cuts by the Fed, while steady jitters surrounding the Fed’s independence also weighed on sentiment.Here’s what to watch on Thursday, August 14:The US Dollar Index (DXY) added to Tuesday’s decline, broke below the 98.00 support and retreated to two-week lows in tandem with a marked retracement in US yields across the board. Producer Prices will take centre stage, seconded by the weekly Initial Jobless. In addition, the Fed’s Barkin is due to speak.EUR/USD rose to fresh two-week highs past…

AUD/USD pares intraday gains but remains modestly higher on the day amid broad US Dollar weakness and solid domestic wage data.Australia’s Q2 wage growth remains resilient, with the annual Wage Price Index steady at 3.4%, above the 3.3% forecast, while quarterly growth eased slightly to 0.8%.Traders await Thursday’s key data releases, including Australia’s July employment report, as well as the US Weekly Jobless Claims and Producer Price Index.The Australian Dollar (AUD) is paring back part of its intraday advance against the US Dollar (USD) on Wednesday, with the AUD/USD pair retreating from session highs near 0.6562 to trade around 0.6540…

The rupee appreciated 20 paise to close at 87.43 (provisional) against the US dollar on Wednesday, as a weak greenback and a positive momentum in domestic equity markets enthused investors.Forex traders said weak crude oil prices and cooling domestic inflation supported the rupee, but uncertainties over trade tariffs and foreign fund outflows capped the sharp upside for the domestic unit.At the interbank foreign exchange, the rupee opened at 87.63, and oscillated between an intraday low of 87.72 and a high of 87.28 against the American currency.The rupee finally settled at 87.43, higher by 20 paise over its previous close.On Tuesday,…

The Indian rupee gained the most in more than a month on Wednesday as softer U.S. inflation data bolstered hopes of a Federal Reserve rate cut in September, weighing on the dollar. The local currency unit gained 0.31% – its highest intraday gain since July 3 – and closed at 87.4400, compared to Tuesday’s close of 87.7125. U.S. inflation data released on Tuesday showed consumer prices rose modestly in the world’s largest economy in July, with impact from recent tariffs staying limited.This provided a boost to emerging market currencies including the Indian rupee, as the odds for a September rate…

The rupee traded in a tight range and slipped 6 paise to 87.69 against the US dollar in morning trade on Wednesday as depreciation pressures are still lingering amid persistent foreign fund outflows. Forex traders said the rupee is trading in a narrow range as the Reserve Bank of India has stepped up its efforts to curb excessive rupee depreciation. At the interbank foreign exchange market rupee opened at 87.63, then touched an intra-day low of 87.69 against the US dollar in initial trade, lower by 6 paise from its previous close. On Tuesday, the rupee appreciated 12 paise to…

EUR/USD is up 0.50% to 1.1673 after July US CPI shows a flat headline but a hotter core print.Markets still price in >90% chance of a September Fed rate cut despite core CPI beat.Trump slams Powell for being “too late” on cuts, threatens lawsuit over Fed building renovations.The EUR/USD rises during the North American session, following the release of mixed inflation figures in the United States (US) and US President Donald Trump’s threats to sue the Fed Chair Jerome Powell. At the time of writing, the pair edges up 0.50% at 1.1673.Market mood remains positive with US stocks boosted by…

US Treasury Secretary Scott Bessent gave an interview with Fox Business late Tuesday, touching on various policy topics both at home and abroad. According to Bessent, the US Supreme Court will be swayed on tariff rulings based on how much estimated government revenue they generate, that US President Donald Trump and Chinese President Xi Xinping share a “good relationship”, and that the Federal Reserve (Fed) should think about delivering a double interest rate cut on September 17.Key highlightsThe Fed should think about a 50 basis point cut in interest rates in September.Fed could have cut in June if given accurate…

WTI barrel bids continued to churn on the low side of $64 on Tuesday.The EIA has forecast a continued climb in overall US Crude Oil production.The potential for a US-led Russia-Ukraine ceasefire is further pressing down barrel bids.West Texas Intermediate (WTI) slid back into the $62.60 region on Tuesday, falling to the low side of near-term consolidation as Crude Oil bulls struggle to find a reason to buy for the time being. The Energy Information Administration (EIA) has adjusted its US Crude Oil production forecast for the remainder of 2025 and heading into the end of 2026, calling for a…

The Dow Jones rebounded on Tuesday after CPI inflation data came in better than investors feared.Despite the upbeat market reaction, inflation data continues to flash some early warning signs.PPI inflation, Retail Sales, and consumer sentiment survey results due later this week.The Dow Jones Industrial Average (DJIA) caught some bullish lift on Tuesday, rising around 450 points after United States (US) Consumer Price Index (CPI) inflation data from July failed to push markets off of bets for an interest rate cut from the Federal Reserve (Fed) in September.The Dow bounced back above 44,400 to punch in a new high for the…