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The USD/CAD price analysis indicates a lower likelihood of a BoC rate cut in June. Core inflation in Canada was hotter than expected. Fed policymakers maintained that the economic outlook was uncertain. The USD/CAD price analysis indicates a lower likelihood of a Bank of Canada rate cut in June, which is pushing the Canadian dollar higher. At the same time, the dollar was fragile after Fed policymakers maintained that the risk of stagflation in the US remained high after Trump’s policy changes.  –Are you interested in learning more about buying NFT tokens? Check our detailed guide- Data on Tuesday revealed…

The rupee depreciated 9 paise to 85.67 against the American currency in early trade on Wednesday, as market sentiment soured under pressure from rising US Treasury yields and persistent foreign fund outflows. Forex traders said global crude oil prices intensified the downside pressure on the USD/INR pair. At the interbank foreign exchange, the domestic unit opened at 85.65 and fell to 85.67 against the greenback, registering a loss of 9 paise over its previous close. On Tuesday, the rupee depreciated 16 paise to close at 85.58 against the US dollar. The rupee fell on Tuesday as oil companies bought dollars…

The United Kingdom’s Office for National Statistics will publish the April CPI data on Wednesday.Inflation, as measured by the CPI, is forecast to be much higher than in March.The GBP/USD pair trades near its 2025 high and aims to advance beyond it.The United Kingdom (UK) will release the Consumer Price Index (CPI) data for April on Wednesday at 06:00 GMT. The report, released by the Office for National Statistics (ONS), has a relevant impact on the Sterling Pound (GBP) amid its potential effect on future Bank of England (BoE) monetary policy decisions.Inflation, as measured by the CPI, is foreseen to…

EUR/USD rose on Tuesday, but remains capped by 1.1300.Despite a near-term recovery, the Euro remains down from recent highs against the Greenback.US PMI figures will be the key data release this week.EUR/USD caught a bounce for a second day in a row on Tuesday, bolstering the pair back toward the 1.1300 handle. Despite a near-term rise in bullish momentum bolstering the Fiber, EUR/USD remains well back from recent multi-year highs near 1.1575. The pair has found a firm technical floor from key moving averages, and overall market sentiment remains hopeful that traders will be able to keep finding reasons to…

The US Dollar Index dips again to possibly test the 100.00 marker.Traders are on the lookout for possible more wait-and-see stance from upcoming Fed members. The US Dollar Index stable for now, though a revisiting of 2022 lows could become possible.The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading lower again after investors share their concerns with the reservations Moody’s made during its US credit downgrade. A Deutsche Bank poll found 80% of investors agree the U.S. is on an unsustainable debt path, echoing Moody’s recent statements. Over half expect…

Euro (EUR) is entering Tuesday’s NA session largely unchanged vs. the USD while trading with modest support over the past week or so, ignoring continued dovish messaging from key policymakers at the ECB, Scotiabank’s Chief FX Strategist Shaun Osborne notes. No momentum in either direction”Governing Council member Knot appears to be leaning toward a cut at the next meeting on June 5. The rates market is pricing nearly one full cut for the meeting and more than two cuts by the end of the year. For EUR/USD, the outlook for relative central bank policy is critical and medium-term EUR gains…

The rupee is expected to remain under pressure but may find support at lower levels. | Photo Credit: iStockphoto The rupee depreciated 21 paise to close at 85.63 (provisional) against the US dollar on Tuesday, on weak domestic markets and a bounce back in US treasury yields.Forex traders said the recent surge in the US 10-year yield reflects mounting concerns over fiscal and monetary policies, driving borrowing costs higher. Foreign fund outflows and positive crude oil prices also weighed on the rupee. However, the weak US dollar index cushioned the downside, they said. At the interbank foreign exchange, the domestic…

The Indian rupee weakened on Tuesday as dollar bids from foreign banks, likely on behalf of custodial clients, and a softer Chinese yuan outweighed positive cues from broad weakness in the greenback. The rupee closed at 85.6350 against the U.S. dollar, down about 0.3% on the day. Asian currencies were mixed on the day while the offshore Chinese yuan dipped lower after China cut key benchmark lending rates and corporate seasonal demand for dollars remained high.A fall in local equities also weighed on the rupee, with traders pointing to dollar demand from foreign banks, likely spurred by mild outflows from…

The USD/CAD price analysis shows strength in the Canadian dollar. Economists are predicting a 0.1% decrease in Canada’s inflation. Market participants are watching fiscal developments in the US. The USD/CAD price analysis shows strength in the Canadian dollar ahead of crucial inflation figures from Canada. Meanwhile, the dollar remained fragile after a credit rating downgrade for the US government. At the same time, market participants are on edge ahead of a vote on Trump’s tax cuts bill. –Are you interested in learning more about buying NFT tokens? Check our detailed guide- The loonie was strong on Tuesday as all eyes…

The Canadian inflation is expected to have lost further momentum in April.The headline Consumer Price Index is seen rising 1.6% from a year earlier.The Canadian Dollar seems to have moved into a consolidative phase.All eyes will be on Statistics Canada this Tuesday as it releases the April Consumer Price Index (CPI), a key inflation gauge that the Bank of Canada (BoC) closely tracks when setting interest rates.Headline inflation is expected to have eased sharply, with annual CPI forecast to fall 1.6% from 2.3% in March. On a monthly basis, however, inflation is projected to have picked up slightly, rising 0.5%…