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USD/CAD outlook improves as it trades above 1.37, lifted by safe-haven flows. Fed’s cautious stance on inflation reinforces support for the dollar, but policy uncertainty persists. CAD gains limit upside as rising oil prices offer some counterbalance to USD strength. The USD/CAD outlook remains mildly positive as the pair extended its upside for the third consecutive session on Thursday. The pair is hovering above 1.3700, at the time of writing. The recent bullish move is attributed to the Fed’s cautious tone supported by the safe-haven flows to the dollar amid geopolitical worries. -If you are interested in forex day trading…

West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $73.52 per barrel, up from Wednesday’s close at $72.94.Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $75.08 price posted on Wednesday, and trading at $75.51. WTI Oil FAQs WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered…

The rupee depreciated 14 paise to 86.57 against the US dollar in early trade on Thursday, as safe-haven demand amid prevailing risk-off sentiments pushed the dollar index higher. Forex traders said geopolitical uncertainties, prevailing risk-off sentiments, and elevated crude oil prices collectively pressured the local currency, while robust dollar demand from oil importers dented investment sentiments further. At the interbank foreign exchange, the domestic unit opened at 86.54 against the greenback, then touched an early high of 86.49 and a low of 86.57 against the greenback in initial trade. On Wednesday, the rupee depreciated 9 paise to close at 86.43…

The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1729 as compared to the previous day’s fix of 7.1761 and 7.1916 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. The PBoC is owned by the state of the People’s Republic of China (PRC), so it is not considered an autonomous institution. The…

The Australian Unemployment Rate is forecast to have held steady at 4.1% in May. Employment Change is expected to post a modest 25K advance after a 89K gain in April.The Australian Dollar should benefit from upbeat figures regardless of the market’s sentiment. The Australian Bureau of Statistics (ABS) will release the May monthly employment report at 01:30 GMT on Thursday. The country is expected to have added 25K new job positions, while the Unemployment Rate is projected to hold steady at 4.1%. Ahead of the announcement, the Australian Dollar (AUD) retains its overall strength, and the AUD/USD pair trades near…

GBP/USD climbs to 1.3452 as traders digest US jobless claims and housing slump.UK inflation cools slightly; core CPI dips to 3.5% YoY in May.Fed and BoE expected to hold rates; dot plot, projections under market spotlight.The GBP/USD recovers some ground on Wednesday as traders await the Federal Reserve’s (Fed) monetary policy decision, amid heightened tensions in the Middle East and the release of jobless claims data in the US. At the time of writing, the pair trades at 1.3452, up 0.19%.Sterling gains modestly as traders brace for central bank updates and weigh soft US housing dataThe financial markets remain stressed…

Gold could eat into the share of the US dollar in central bank forex holdings worldwide over the next five years, an annual World Gold Council (WGC) survey showed, underscoring a broad-based tilt toward safe-haven assets in a trading environment rocked by geopolitics and unpredictable trade tariffs. The yuan and the euro, too, might see share gains that reflect the shifting trade currents.“Nearly half of the central bank respondents intend to increase their own gold holdings in the coming year,” said Shaokai Fan, Global Head of Central Banks & Head of Asia-Pacific (ex-China). “This is remarkable, especially considering how many…

USD/CAD trades near 1.3575 as markets digest a mixed US Retail Sales ahead of Wednesday’s Fed rate decision.Elevated Oil prices and geopolitical risks in the Middle East limit losses for the Canadian Dollar.USD/CAD remains in a descending wedge, while the Relative Strength Index signals a pause in bearish momentum.The Canadian Dollar (CAD) is holding its ground against the US Dollar (USD) on Tuesday, with USD/CAD moving sideways near 1.3575.Mixed signals from the latest US Retail Sales data and escalating tensions in the Middle East on Tuesday continue to keep traders cautious as the Federal Reserve’s (Fed) policy meeting looms.The pair…

Gold moves toward $3,400 ahead of Wednesday’s Fed interest rate decision.Israel-Iran hostilities intensify, supporting Bullion’s safe-haven appeal.XAU/USD edges higher as the US Dollar remains under pressure.Gold moves higher against the US Dollar (USD) on Tuesday as traders digest mixed US Retail Sales data and monitor escalating tensions in the Middle East. At the time of writing, XAU/USD is trading around $3,392, supported by rising safe-haven demand amid renewed geopolitical risks.The latest US Retail Sales report delivered mixed signals. Headline sales fell 0.9% in May, a steeper drop than the expected 0.7% decline and the sharpest contraction since early 2024. Sales excluding…

Industrial Production in the US declined by 0.2% in May.The US Dollar Index holds steady at around 98.00 after the data.Industrial Production in the United States (US) contracted by 0.2% on a monthly basis in May, the data published by the Federal Reserve showed on Tuesday. This reading followed the 0.1% growth recorded in April and came in worse than the market expectation for an expansion of 0.1%.Other details of the report showed that manufacturing output rose by 0.1% in this period. Meanwhile, the Capacity Utilization declined to 77.4% from 77.7% in April. Market reactionThe US Dollar Index holds steady…