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The local unit fell despite the dollar staying weak The rupee depreciated one-fifth of a per cent against the dollar and closed at 86.25 on Tuesday. Thus, the Indian currency has lost about three-fourth of a per cent over the past week as it had closed at 85.62 on June 10.The local unit fell despite the dollar staying weak. This was largely due to the spike in oil prices triggered by the Israel-Iran conflict. The Brent crude oil futures ($74.70/barrel) has risen nearly 12 per cent so far this week.As the hostilities continue, the oil prices can remain elevated, a…

Retail Sales in the US fell more than expected in May.The USD Index stays in a tight daily range near 98.00.Retail Sales in the United States (US) declined by 0.9% in May to $715.4 billion, the US Census Bureau announced on Tuesday. This reading followed the 0.1% decrease (revised from +0.1%) recorded in April and came in worse than the market expectation for a contraction of 0.7%. On a yearly basis, Retail Sales were up 3.3%, compared to 5% in April.”Total sales for the March 2025 through May 2025 period were up 4.5% from the same period a year ago,”…

The rupee declined 19 paise to close at 86.23 (provisional) against the greenback on Tuesday weighed down by a rise in global crude oil prices amid the escalating Iran-Israel war, and a strengthening dollar. Weak sentiments in the domestic equity markets and FII outflows put further pressure on the rupee, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.96 against the US dollar and traded in the range of 85.96-86.28 during the day before settling at 86.23 (provisional), down 19 paise from its previous close. The rupee had closed at 86.04 against the rupee on…

Here is what you need to know on Tuesday, June 17:The trading action in financial markets turns subdued on Tuesday as investors remain optimistic about a de-escalation of the Israel-Iran conflict. Economic sentiment data from the Eurozone and Germany will be featured in the European economic calendar. Later in the day, May Retail Sales and Industrial Production data from the US will be watched closely by market participants. US Dollar PRICE Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the British Pound. USD EUR GBP…

The USD/JPY outlook remains mildly positive after the Bank of Japan leaves rates unchanged. Analysts believe the upside may be capped by 145.50, observing a ranging behavior. Geopolitics could boost yen demand amid safe-haven flows. The USD/JPY outlook remains slightly supported as the pair snapped a two-day winning streak after the Bank of Japan left the policy rate unchanged at 0.50%. Earlier this week, the pair saw a rise amid safe-haven flows triggered by the Middle East crisis. -If you are interested in forex day trading then have a read of our guide to getting started- However, the yen bulls…

The rupee rose 11 paise to 85.93 against the US dollar in early trade on Tuesday defying pressures from a weak opening in the domestic markets, rise in global crude oil prices, and a stronger dollar. At the interbank foreign exchange, the rupee opened at 85.96 against the greenback before rising further to 85.93, up 11 paise from its previous close. The rupee had closed at 86.04 on Monday. “If rupee closes above 86.20 today (Tuesday) or any day the importers will have hit a stop loss as the gains for dollar could go up to 86.70. One can, however,…

The Australian Dollar rebounds, trimming daily losses as concerns over Israel-Iran tensions ease.Iran asked many countries, including Oman, Qatar, and Saudi Arabia, to urge President Trump to initiate an immediate ceasefire.Traders await the US Retail Sales data for May due on Tuesday.The Australian Dollar (AUD) recovers its daily losses against the US Dollar (USD) on Tuesday. However, the AUD/USD pair faced challenges as traders adopted caution amid ongoing geopolitical tensions.However, the risk-sensitive AUD/USD pair gained ground due to optimism after Iran reportedly asked many countries, including Oman, Qatar, and Saudi Arabia, to urge US President Donald Trump to use his…

USD/CAD edges higher to near 1.3580 in Tuesday’s early Asian session. Persistent Middle East geopolitical tensions continue to support the US Dollar. Traders await the US May Retail Sales data later on Tuesday for fresh impetus. The USD/CAD pair recovers some lost ground to around 1.3580 during the early Asian session on Tuesday. The US Dollar strengthens against the Canadian Dollar (CAD) as investors monitor the conflict between Israel and Iran for signs it could escalate into a broader regional conflict.  Investors have been closely watching the developments surrounding geopolitical risks after Israel’s strike on Iran on Friday. The ongoing geopolitical tensions are…

GBP/USD climbs 0.27% to 1.3600 after dropping to 1.3515 on Friday amid Middle East tensions.Israel-Iran hostilities escalate, keeping markets on edge, though risk appetite returned on Monday.US Dollar Index (DXY) slips 0.27% to 97.88 despite geopolitical concerns as Treasury yields ease.The GBP/USD surged during the North American session, rising back above the 1.36 figure as hostilities within the Israel-Iran conflict escalated over the weekend and continued into the new week. At the time of writing, the pair trades at 1.3600, gaining 0.27%.Sterling regains ground as safe-haven bid in USD fades; traders eye Fed and BoE decisionsLast Friday, the GBP/USD retreated…

USD is likely to trade in a range between 7.1770 and 7.1970. In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.USD has likely moved into a range trading phase24-HOUR VIEW: “We expected USD to ‘trade in a range between 7.1700 and 7.1950’ last Friday. USD subsequently traded in a narrower range than expected (7.1713/7.1900). The price action provides no fresh clues, and we continue to expect range trading today, most likely between 7.1770 and 7.1970.”1-3 WEEKS VIEW: “In our most recent narrative from last…