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The rupee appreciated 40 paise to 87.25 against the US dollar in early trade on Friday, amid lower crude prices and suspected RBI interventions as the US’s imposition of a 25 per cent tariff on Indian exports heightened investors’ concerns. Forex traders said the US’s imposition of a 25 per cent tariff on Indian exports triggered risk-off sentiment and heightened concerns regarding further rupee depreciation. Moreover, investors are focussed on US President Donald Trump’s imposition of new, and mostly higher tariffs on US trading partners beginning August 1. At the interbank foreign exchange market, the rupee opened at 87.60 and…

The Reserve Bank of India likely intervened to support the rupee on Friday as worries over steep U.S. trade tariffs and foreign portfolio outflows from equities kept up the pressure, five traders told Reuters. The rupee was at 87.5150, up 0.1% in early trading after opening nearly flat at 87.60, sidestepping losses in regional currencies. State-run banks were spotted offering dollars “right from 87.60 levels,” and most likely on behalf of the RBI, a trader at a Mumbai-based bank said.Separately, two Singapore-based FX traders said that the central bank had also likely stepped into the non-deliverable forwards market to prevent…

GBP/USD drops after Fed’s 9–2 decision to hold rates; Powell gives no guidance for September.US Initial Jobless Claims fall to 218K ahead of NFP; strong labor market supports USD.Core PCE rises to 2.8% YoY in June; headline PCE hits 2.6%, both above estimates.The GBP/USD posted moderate losses during the North American session on Thursday after the Federal Reserve (Fed) held rates on Wednesday and failed to provide forward guidance for the September meeting. This, along with solid US jobs data and an uptick in inflation, boosted the Dollar. The pair trades at 1.3214 after reaching a high of 1.3281.Sterling weakens…

The Canadian Dollar weakens for a sixth consecutive day, with USD/CAD hitting its highest level since late May.US President Donald Trump threatens 35% tariffs on Canadian goods not covered under USMCA if no deal is reached by August 1.Canadian GDP contracts 0.1% MoM in May, marking the second straight monthly decline.The Canadian Dollar (CAD) remains on the back foot for a sixth straight day against the US Dollar (USD) on Thursday, sinking to its weakest level since late May. At the time of writing, the USD/CAD pair is trading flat around 1.3834 during early American trading hours, hovering near a…

Whether it’s long-distance travel, a small garden to tend each morning or quality time spent with loved ones, the retirement you envision deserves a clear financial strategy.At the heart of that strategy is often a valuable tool: the Individual Retirement Account (IRA). But how can you be sure that your IRA is leading you to the retirement of your dreams? Here’s how to align your retirement accounts with your life goals.Dreaming, yes. But put a figure on itRetirement planning doesn’t start with an Excel spreadsheet. It starts with a vision. Would you like to live by a lake? Travel across…

For a brief period this morning, market commentators mused that the BoJ could announce the next rate hike of the cycle as soon as October. That conclusion was drawn from what appeared to be a slightly more hawkish then expected outcome to today’s BoJ policy meeting. This speculation was quickly quashed by comments from BoJ Governor Ueda in his press conference suggesting that he does not see the BoJ as being ‘behind the curve’ on policy tightening. Nor does he see the ‘fog suddenly lifting’ over the outlook for trade, Rabobank’s FX analyst Jane Foley reports. USD/JPY nears 150.00 as…

Annual core PCE inflation remained unchanged at 2.8% in June.US Dollar Index stays in daily range slightly below 100.00.Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, rose to 2.6% in June from 2.4% in May (revised from 2.3%), the US Bureau of Economic Analysis reported on Thursday. This reading came in above the market expectation of 2.5%. The core PCE Price Index, which excludes volatile food and energy prices, rose 2.8% in the same period, matching May’s increase and surpassing analysts’ estimate of 2.7%. The PCE Price Index…

The Rupee continued to reel under the steep tariffs imposed by the US on Indian imports, with the Indian unit weakening to an over five-month low on Thursday.The Indian unit (INR), which dropped 61 paise on Wednesday, closed weaker at 87.5950 per US Dollar (USD) against the previous close of 87.4250, down 17 paise. It opened at 87.66.In intraday trades, INR tested a high/ low of 87.7450/87.5100 per USD, according to CCIL data. The Rupee has slumped by about 107 paise between last Friday’s (July 25th) closing of 86.52 and today (July 31st).Market expectations are that the weakening bias of…

The Indian rupee suffered its worst monthly drop in nearly three years on Thursday, weighed down by U.S. tariff concerns and persistent portfolio outflows, with traders and analysts seeing little relief for the currency in the near term. The rupee fell to an over five month low of 87.74 following U.S. President Donald Trump’s threat of a 25% charge on Indian exports, alongside an unspecified penalty, starting August 1. It closed at 87.5950 down 0.2% on the day. The currency was down 2% for the month, its worst fall since September 2022.The Reserve Bank of India likely intervened to support…

The USD/CAD forecast shows an extension of the previous session’s move. The Bank of Canada held rates as expected on Wednesday. The US economy grew by 3.0%, compared to the forecast of 2.5%. The USD/CAD forecast shows an extension of the previous session’s move as the Canadian dollar continues its slide. Both the Bank of Canada and the Fed kept rates unchanged on Wednesday. Meanwhile, upbeat data from the US boosted the dollar against most of its peers. -If you are interested in guaranteed stop-loss forex brokers, check our detailed guide- The Bank of Canada held rates as expected on…