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The Indian rupee closed nearly unchanged on Wednesday, wedged between comfort from a decline in crude oil prices and persistent dollar demand from local importers, including oil marketing companies.The currency ended the session at 93.3725 per dollar, compared with its previous close of 93.3750.During the day, the rupee rose to 93.13, before giving up the gains as importers stepped in to lock in hedges, traders said. The price-action was echoed by dollar-rupee far forward premiums which also nudged higher following an early retreat. Global markets were boosted by the prospect of fresh peace talks between the U.S. and Iran this…
At the interbank foreign exchange market, the rupee opened at 93.19 and touched the intraday high of 93.13 against the greenback. The rupee pared initial gains to settle 9 paise lower at 93.44 (provisional) against the US dollar on Wednesday, as rising crude oil prices after a sharp fall and higher domestic inflation data dampened sentiment.According to forex analysts, strong buying in domestic equities failed to support the rupee even as it gained initially after US President Donald Trump said that a second round of talks with Iran could be held “over the next two days”.At the interbank foreign exchange…
The Indian Rupee (INR) gains against the US Dollar (USD) on Wednesday after a holiday the previous day due to Dr. Baba Saheb Ambedkar Jayanti. The USD/INR pair falls to near 93.20 as a sharp decline in the oil price and upbeat market sentiment due to growing expectations that the United States (US) and Iran could reach a permanent ceasefire soon have improved the Indian Rupee’s appeal.Trump expects war with Iran to be very close to being overEarlier in the day, US President Donald Trump said in an interview with Fox Business, “I think it’s close to over, yeah. I…
The Indian rupee strengthened on Wednesday, as a retreat in oil prices soothed investor nerves amid hopes of the U.S. and Iran resuming peace talks this week. Equities in Mumbai leapt higher while bonds also rose as Brent crude oil futures stayed below $100 per barrel after U.S. President Donald Trump said talks with Iran could resume in Pakistan over the next two days. Asian stocks rose more than 1% with stocks in Korea, Taiwan and India leading the charge. Ceasefire hopes have helped MSCI’s gauge of Asian stocks wipe out most of its losses since the Iran war started…
The rupee recovered 20 paise to 93.15 against the US dollar in early trade on Wednesday, backed by lower levels of crude oil prices and a weak American currency amid hopes of resuming US-Iran peace talks.Investor sentiment turned positive after US President Donald Trump said that a second round of talks with Iran could be held “over the next two days”.The latest remarks, which came days after the two sides failed to reach a peaceful resolution to the conflict in West Asia, led to a sharp decline in crude oil prices, boosting the risk appetite for market participants, forex analysts…
GBP/USD halts its seven-day winning streak, trading around 1.3560 during the Asian hours on Wednesday. The pair loses ground as the US Dollar (USD) edges higher despite dampened safe-haven demand amid growing market optimism amid hopes for a diplomatic solution to the Middle East conflict.The United States (US) and Iran are reportedly preparing for a second round of peace talks ahead of the current two-week ceasefire deadline, even as escalating tensions in the Strait of Hormuz continue to heighten global energy risks. US President Donald Trump signaled negotiations could resume this week, while also opposing a 20-year suspension of Iran’s…
DBS economist Chua Han Teng highlights that Singapore’s 1Q26 GDP growth was resilient, with real GDP up 4.6% year-on-year, but warns that the Iran war shock and global slowdown pose downside risks. DBS maintains its 2026 real GDP growth forecast at 2.8%, broadly aligned with MAS expectations for the output gap to average around zero as growth slows through 2026.Firm start but outlook softens”Singapore’s economy entered 2026 on a firm footing, reflected in resilient real GDP growth of 4.6% yoy and -0.3% qoq sa in 1Q26 (but slower than 5.7% yoy and 1.3% qoq sa in 4Q25), according to MTI’s…
Silver (XAG/USD) surges on Tuesday, trading around $78.80 at the time of writing, up 4.16% on the day as strong buying interest pushed Silver to a daily high of $79.32. The white metal rebounds sharply after touching lows near $72.60 on Monday, benefiting from a broad weakening of the US Dollar (USD) and improving market sentiment.Precious metals are gaining ground as investors also react to softer-than-expected inflation data in the United States (US). The Producer Price Index (PPI) published by the US Bureau of Labor Statistics earlier in the day, shows that annual producer inflation rose by 4% in March,…
TD Securities analysts highlight a hawkish shift from the Reserve Bank of Australia (RBA) after Deputy Governor Hauser signaled limited confidence that current policy is sufficient to return inflation to target. They now forecast a 25 bps rate hike at the next meeting and warn the cash rate may need to rise above 4.35% if Oil-driven inflation persists.RBA signals scope for further tightening”The RBA Deputy Governor indicated that the RBA Board does not have “high confidence” that the cash rate is at a level consistent with bringing inflation back to the 2-3% inflation target in comments at a Fireside chat…
ING’s Francesco Pesole highlights that ECB President Christine Lagarde and other Governing Council members are expected to maintain a broadly hawkish tone given Gulf volatility. Markets price modest tightening at the 30 April meeting and two further hikes this year. ING argues that clear progress in US‑Iran talks is needed to sustainably lift EUR/USD above 1.180.Lagarde remarks and Gulf risks guide Euro”ECB President Christine Lagarde will speak tonight in Washington. A few other Governing Council speakers are scheduled for earlier in the day. We would expect ECB officials to reiterate a broadly hawkish tone considering the lingering volatility in the…