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Gold price continues to print record highs, and it passed the $4,100 milestone on Monday during the North American session, as the US-China trade war escalated last week, boosting the safe-haven appeal of Bullion. XAU/USD trades at $4,095, up nearly 2% at the time of writing.Bullion extends record-breaking rally amid tariff threats, central bank demand and ongoing US government shutdownGeopolitics plays a significant role in setting Gold prices, along with central bank buying. Last week, US President Trump threatened to impose 100% duties on China’s goods as retaliation for China’s rare earth metals export controls. Nevertheless, Trump backpedaled as he…

The Brazilian Real (BRL) remains under mild pressure as USD/BRL holds above 5.27, with technical signals pointing to further upside while support at 5.37 stays intact, Société Générale’s FX analysts note. USD/BRL turns constructive above 5.37 support”USD/BRL formed an interim low near 5.27 last month resulting in a short-term bounce. It has crossed a multi-month descending trend line. Daily MACD has been posting positive divergence highlighting receding downward momentum.” “If a short-term pullback develops, graphical levels near 5.37 may provide support. Defence of this may lead to continuation in rebound. The next hurdles are located at the 200-DMA near 5.63…

closeup view of a man counting Indian currency istock photo for BL | Photo Credit: iStockphoto Rupee has barely budged over the past three weeks, prompting some traders to speculate that the central bank is once again tightening its grip on the currency.The one-month volatility in the dollar-rupee pair has crashed to the year’s lowest level this month. The currency has been stuck in a narrow range, struggling to break past the 89-per-dollar mark after hitting fresh lows.The Reserve Bank of India has built up short dollar positions of at least $15 billion in the non-deliverable forwards market over the…

The rupee appreciated five paise to close at 88.67 (provisional) against the US dollar on Monday, supported by suspected RBI intervention and fresh foreign fund inflows.Forex traders said the domestic unit faced some resistance as renewed trade war tensions between the US and China led to risk aversion in global markets.At the interbank foreign exchange, the rupee opened at 88.75 and traded in the range of 88.57-88.79 before settling at 88.67 (provisional), registering a rise of 5 paise than its previous close.On Friday, the rupee appreciated seven paise to close at 88.72 against the US dollar.The US threatened an additional…

The Indian rupee came within a whisker of its all-time low on Monday but managed to hold above it on likely intervention by the central bank, with news of the Indian trade delegation’s visit to the U.S. also offering modest relief. The rupee closed at 88.67 against the U.S. dollar, nearly unchanged from its close of 88.6850 in the previous session. The local unit touched a low of 88.7925 earlier in the session but likely dollar-selling intervention by the Reserve Bank of India, via state-run lenders, helped it avert a fall below its record low of 88.80.In the latter half…

The rupee is down 3.6% so far this year, making it the worst-performing currency in Asia | Photo Credit: Andrii Yalanskyi;iStockphoto India’s rupee has barely budged over the past three weeks, prompting some traders to speculate that the central bank is once again tightening its grip on the currency.The one-month volatility in the dollar-rupee pair has crashed to the year’s lowest level this month. The currency has been stuck in a narrow range, struggling to break past the 89-per-dollar mark after hitting fresh lows.The Reserve Bank of India has built up short dollar positions of at least $15 billion in…

NZD/USD extends its losses for the fifth successive session, trading around 0.5740 during the early European hours on Monday. The daily chart’s technical analysis signals a potential bullish reversal as the pair price moves ahead in the descending wedge pattern. A continuation within the descending wedge suggests that volume typically declines, showing waning momentum in the bearish trend.The 14-day Relative Strength Index (RSI) is positioned slightly below the 30 mark, suggesting a bearish bias is active. Although the NZD/USD pair could recover from the oversold territory. Further movements will likely offer a clear directional trend. Additionally, the short-term price momentum…

The rupee traded in a narrow range and fell 5 paise to 88.77 against the US dollar in early trade on Monday, tracking the broad strength of the American currency amid a risk-off tone globally. Forex traders said the rupee is hovering near its all-time closing low level as the RBI is monitoring the depreciation of the USDINR pair towards 88.80. At the interbank foreign exchange market, the rupee opened at 88.75, the fell to 88.77 against the greenback, registering a fall of 5 paise from its previous close.On Friday, the rupee had settled at 88.72 against the US dollar.…

The Indian Rupee (INR) remains steady against the US Dollar (USD) on Monday, after registering losses in the previous session. The USD/INR pair hovers around 88.70 during the Asian hours, with the Reserve Bank of India’s (RBI) frequent interventions preventing the INR from breaching its record low of 88.87, last seen on September 24.Traders will be watching the annual India Consumer Price Index (CPI) data for September later in the day. The Indian Rupee could face pressure as September’s inflation is expected to ease to 1.7%, below the RBI’s 2–6% target, fueling expectations of rate cuts.The INR gained ground in…

Gold price (XAU/USD) extends the rally to around $4,040 during the early Asian session on Monday. The escalating trade tensions between the United States (US) and China provide some support to the precious metal. Traders await signs on when the US government will reopen and release data that will shape Federal Reserve (Fed) policy.The rally in the yellow metal is bolstered by US President Donald Trump’s decision to impose fresh 100% tariffs on Chinese imports starting November 1. China warned the US that it would retaliate if Trump fails to back down on his threat to impose levies on Chinese imports.…