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The US Dollar Index (DXY) is losing momentum near 98.00 as safe-haven demand fades on the reopening news, but downside remains limited amid lingering geopolitical risks. Markets are experiencing fluctuations between relief and renewed caution as developments around the Strait of Hormuz continue to evolve. Earlier reports confirmed that this vital Oil chokepoint is “fully open and ready for full passage,” alleviating fears about prolonged supply disruptions. However, new developments are complicating the situation. Reports suggest that Iran may consider closing the Strait of Hormuz again if the United States maintains its naval blockade, warning that such an action would…
The AUD/USD surged toward the 0.7200 price region on Friday, as improving headlines out of the Middle East weigh on the US Dollar (USD) and support risk-sensitive currencies like the Australian Dollar (AUD).Market sentiment has shifted following announcements that the Strait of Hormuz is now “fully open and ready for full passage.” This development eases concerns about prolonged supply disruptions in global energy markets. A subsequent statement by United States (US) President Donald Trump clarified that while the Strait is operational for business, certain naval restrictions specifically related to Iran will remain temporarily in place as negotiations near completion. Overall,…
The Rupee made a smart recovery in the new financial year so far, gaining about 191 paise against the US dollar. This has come on the back of RBI measures to counteract the depreciation pressure it faced since the US-Israel axis launched air strikes against Iran on February 28, 2026.The Indian currency closed about 28 paise stronger on Friday at 92.9250 per dollar, against the previous close of 93.20. Overall, it gained 81 paise against last Friday’s close of 93.73.As compared to the March 30, 2026 ) closing and intraday low levels of 94.83 and 95.21, respectively, the Rupee has…
Gold’s (XAU/USD) remains practically flat, at $4,790 at the time of writing on Friday, lacking a clear bias after pulling back from one-month highs, at $4,871 earlier this week. Precious metals are consolidating recent gains on Friday, supported by a mild US Dollar weakness as investors await developments from the US-Iran peace talks.News from Iran and the US are diverging, but the market is sticking to US President Donald Trump’s positive comments. He announced a 10-day ceasefire between Lebanon and Israel on Thursday and affirmed that a deal with Iran is “very close”, which has boosted expectations about the peace…
The Indian rupee rose on Friday following a Reuters report of a central bank step to curb state-run oil companies’ dollar demand, adding to measures that have narrowed the currency’s underperformance over the last fortnight.Since hitting a record low of 95.21 per dollar on March 30, the rupee has recovered as the central bank tapped crisis-era tools to shore up the currency which had been battered by foreign portfolio outflows and risks to India’s current account balance. On Friday, the rupee rose 0.3% to close at 92.9250, after touching a one-week high of 92.66 in early trading. Earlier in the…
The rupee appreciated by 29 paise to settle at 92.85 (provisional) against the US dollar on Friday, buoyed by a weakening American currency and retreating crude oil prices amid increasing hopes of easing geopolitical tensions.Renewed buying in domestic equity markets and fresh inflow of foreign funds also supported the local currency, forex traders said.At the interbank foreign exchange market, the rupee opened at 92.93 and touched an intraday high of 92.65 against the greenback. The unit also touched the day’s low of 92.98 before ending the session at 92.85 (provisional) against the American currency, up 29 paise from the previous…
Commerzbank economists Jörg Krämer and Bernd Weidensteiner argue that despite a sharper fall in global oil production than during the 1970s crises, advanced economies should suffer less this time. They highlight smaller price increases, lower oil intensity, and strategic reserves as key buffers, but warn that supply chain disruptions and prolonged damage to Gulf energy infrastructure could still significantly hurt growth.Historic supply hit but softer macro blow”In fact, oil production has fallen more sharply due to the blockade of the Strait of Hormuz and attacks on oil production and loading facilities in the Persian Gulf region than during any other…
The Indian rupee led gains in Asia after a report that the central bank has asked state-owned oil refiners to route their dollar purchases through a special credit facility.The currency gained as much as 0.5 per cent to 92.7738 per dollar on Friday.Refiners have been asked to tap a special credit line for their foreign exchange requirements through the State Bank of India, the country’s largest lender, Reuters reported, citing people it didn’t identify. They are also being encouraged to route dollar purchases via SBI instead of multiple banks, the report said, citing one of the people.“The news of the…
The rupee jumped 28 paise to 92.86 against the US dollar in early trade on Friday amid hopes of easing geopolitical tensions and positive sentiment in domestic equity markets.Buying of Indian equities by foreign investors also supported the local currency even though it stayed under pressure due to a firm dollar, forex traders said.At the interbank foreign exchange market, the rupee opened at 92.93 and gained further to trade at 92.86 against the greenback in early deals, up 28 paise from the previous closing level.On Thursday, the rupee strengthened 19 paise to settle at 93.14 against the US dollar.Meanwhile, the…
The EUR/USD pair trades subduedly near 1.1777 during the Asian trading session on Friday. The major currency pair has turned sideways after a two-week-long rally to near 1.1825 as investors await the announcement of another round of talks between the United States (US) and Iran.S&P 500 futures are flat in the Asian trade after rising 0.26% to 7,041 on Thursday, reflecting a quiet but broadly upbeat market mood. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades marginally higher around 98.25, but looks set for a second weekly loss.While neither the US nor Iran…