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Gold rallies to $3,359 after Trump BLS nominee suggests suspending monthly NFP releases.July US CPI misses headline estimates, boosting odds of September Fed rate cut.Trump slams Powell, threatens lawsuit, reigniting Fed independence concerns.Gold price recovered some ground on Tuesday, climbing 0.20% following the release of July’s inflation print in the United States (US). Although prices had risen, Bullion’s was supported by US President Donald Trump’s remarks threatening the Federal Reserve’s (Fed) independence. The XAU/USD trades at $3,348 at the time of writing.The US Consumer Price Index (CPI) for July missed estimates in its headline print YoY and increased the odds…

The USD/CAD outlook shows the dollar rising amid optimism over an extension of the US-China trade truce. China and the US agreed to extend their trade truce by another 90 days. Forecasts show that the annual US CPI figure might increase by 2.8%.  The USD/CAD outlook shows the dollar rising amid optimism over an extension of the US-China trade truce. However, traders remain cautious ahead of the pivotal US consumer inflation report that will shape the outlook for rate cuts.  –Are you interested to learn more about ECN brokers? Check our detailed guide- China and the US agreed to extend…

As long as the dollar index remains below 100, the rupee bulls will have room to make progress.  | Photo Credit: REUTERS The rupee, now at 87.71 against the dollar, is down marginally so far this week. Uncertainties with respect to tariffs and foreign outflows have been dragging the local currency. But there has been some relief from the sentiment perspective of the market as US President Donald Trump has extended tariff truce with China by another 90 days. Whether and how far this can help the rupee in gaining ground is uncertain though.That said, the foreign outflows have been weighing…

Analysts expect the rupee to trade with a slight negative bias due to FII outflows, though lower crude prices and dollar weakness may offer support.  | Photo Credit: The rupee consolidated in a narrow range to settle just 3 paise higher at 87.72 (provisional) against the US dollar on Tuesday amid a negative trend in domestic equities.Forex traders said the rupee is trading in a tight range as a late decline in domestic markets and foreign fund outflows capped sharp gains for the domestic unit.Moreover, there is an overall negative bias amid uncertainties over the trade tariff issue between India…

The Indian rupee was largely unchanged on Tuesday with traders in “wait and watch” mode awaiting the release of key inflation data in the U.S. and India later in the day, which could provide clues on the interest rate trajectories in the two economies. The local currency unit closed marginally 0.06% higher at 87.7125 against Monday’s close of 87.6600. India’s consumer price index (CPI) data for July is expected to show inflation at its slowest pace in at least eight years. The U.S. July data, due after the release of India’s report, is expected to show that core inflation rose…

The rupee traded in a narrow range and edged higher by 10 paise to 87.65 against the US dollar in early trade on Tuesday, amid a positive trend in domestic equities. Forex traders said the rupee is trading in a tight range and the overall bias is expected to be negative amid uncertainty over the trade tariffs issue between India and the US. Moreover, investors are in a wait-and-watch mode ahead of the US CPI inflation data and are also awaiting cues from the US-Russia talks on August 15. At the interbank foreign exchange market, the rupee opened at 87.70…

In an interview with El Financiero, Victoria Rodriguez Ceja, Banco de Mexico (Banxico) Governor, said that the Mexican Peso (MXN) strength was due to the market’s perception of Mexico’s “preferential treatment” in the US tariffs policy. When asked about monetary policy, she said that Banxico’s current policy stance is adequate.Victoria Rodríguez emphasized that the current monetary policy stance is adequate to address inflationary pressures and contribute to the convergence of inflation toward its 3.0 percent target by the third quarter of 2026.”Our decisions are based on all the information available to us at each of our meetings. We believe that…

EUR/USD down 0.30%, trading at 1.1605 after touching daily high of 1.1675.US Dollar bought ahead of US July CPI release; hot print could dampen Fed rate cut bets.Italy’s July inflation steady at 1.7% YoY, matching ECB target and June reading.Trump–Putin talks may yield Ukraine ceasefire progress, potentially easing EU energy costs.The EUR/USD edges lower on Monday, down 0.26% as the Greenback is bought by traders ahead of another inflation report in the United States (US) coming Tuesday. This, along with Italy’s revelation that prices reached the European Central Bank’s (ECB) target, justifies the need to hold rates even at the…

The Dow Jones backslid around 200 points on Monday.Equities are trimming the topside ahead of a key US CPI inflation print.Rising inflation pressures could threaten Fed rate cut expectations.The Dow Jones Industrial Average (DJIA) fell back on Monday, shedding around 200 points and testing below 44,000 once again as investors brace for the latest United States (US) Consumer Price Index (CPI) inflation figures due on Tuesday. Markets have fully priced in an interest rate cut at the Federal Reserve’s (Fed) next rate call on September 17, but a resurgence of inflationary pressure could put a pin in rate trim hopes.The…

AUD/USD steadies above 0.6500 ahead of the RBA monetary policy decision on Tuesday.The RBA is widely expected to cut the cash rate by 25 bps to 3.60%, with traders closely watching the RBA Monetary Policy Statement and RBA Press Conference for updated economic forecasts.The Central bank held rates at 3.80% in July after two consecutive cuts, citing caution on inflation and global uncertaintiesThe Australian Dollar (AUD) trades with a slightly negative tone against the US Dollar (USD) on Monday, with AUD/USD holding steady above the 0.6500 level as investors brace for Tuesday’s Reserve Bank of Australia (RBA) monetary policy decision.…