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The U.S. dollar held steady on Monday after a weekly loss as markets awaited the results of peace talks in the Middle East and signals on the timing of central bank rate hikes. The dollar index edged lower last week on hopes for a deal between the United States and Iran to open the Strait of Hormuz shipping lane for oil. Oil jumped in early trade after Israel ordered troops to move further into Lebanon in the battle with Iranian-backed Hezbollah.U.S. President Donald Trump said on Friday he would soon decide on a proposed deal to extend the Iran ceasefire.…
The AUD/USD pair holds steady around 0.7185 during the early Asian trading hours on Monday. Traders continue to assess the developments surrounding the US-Iran peace negotiations. Also, China’s RatingDog Manufacturing Purchasing Managers Index (PMI) report for May will be released later on Monday. Iranian Foreign Minister Abbas Araghchi said on Sunday that talks and message exchanges with the US were ongoing, but highlighted that no assessment of negotiations could be made until a clear outcome was reached. “Talks and message exchanges are ongoing, and until a definite result is reached, it is not possible to judge,” said Araghchi. “Everything being said…
The rupee has witnessed significant depreciation in 2026, briefly nearing the Rs. 97 per US dollar mark before recovering modestly towards Rs. 95.30 this week. This sharp movement reflects a confluence of global and domestic factors and has meaningful implications for India’s commodity markets, inflation trajectory, and broader economy.Why the INR has weakened sharplyThe recent weakness in the rupee is driven by a mix of structural and cyclical factors. India’s heavy reliance on imports, especially crude oil, which accounts for over 85% of consumption, has sharply increased dollar demand, particularly as global oil prices surged. At the same time, widening…
Mumbai: The rupee strengthened on Friday, helped by central bank intervention in the market, news of a peace deal and ceasefire between Iran and the US, and easing oil price.The rupee strengthened to 94.95 to the dollar before closing at 95.00, its best day since April 2, according to LSEG data.Brent futures dropped and were last hovering around $91 per barrel, aiding the local currency.Agenciesboost from RBI Support, W Asia peace hopesThe rupee is expected to strengthen further if there are no further escalations in the ceasefire. Dealers expect the rupee to trade in a range of 94.75-95.75 Monday.”Lower crude…
Mumbai: The rupee’s use for invoicing and settlement of international trade saw only modest growth in the last two fiscal years, the central bank’s annual report showed, reflecting the ground India needs to further cover to internationalise its currency in a global trading order still dominated by the US dollar.Former RBI Deputy Governor, T Rabi Sankar, had said in October 2025 that invoicing and settling trade in rupees was a key step towards India’s ambition of becoming a developed economy.AgenciesTo encourage greater use of the rupee in cross-border trade, the RBI has introduced measures such as permitting correspondent banks in…
The US Dollar Index (DXY) fell toward the 98.90 region on Friday as improving market sentiment linked to developments in the Middle East reduces demand for safe-haven assets. Although the latest United States (US) Core Personal Consumption Expenditures (PCE) Price Index on Thursday held steady at 3.3% YoY in April, reinforcing expectations that the Federal Reserve (Fed) may keep interest rates elevated for longer, investors focused on reports that the US and Iran reached a memorandum of understanding to extend the ceasefire by 60 days, reopen the Strait of Hormuz, and begin nuclear negotiations. US Dollar Price Today The table…
Silver (XAG/USD) price retreats 0.16% on Friday, consolidating around the $75.00-$76.00 area and is virtually unchanged, near the 50-day Simple Moving Average (SMA) at $75.70.XAG/USD Price Forecast: Technical outlookSilver looks set to extend its consolidation after breaking below the ascending channel’s support trendline and the 50-day SMA, but the white metal has reclaimed the $75.00 mark.The RSI turned bearish in mid-May and continues to point lower, suggesting sellers are building momentum, but the index turned flat ahead of the weekend.Above, the first resistance for XAG/USD is the 20-day SMA at $77.92, followed by $78.00. A breach of the latter will…
Gold (XAU/USD) price advanced more than 1.50% on Friday amid news that Iran and the US are close to signing a deal aimed at extending the ceasefire for 60 days to allow negotiations on Iran’s nuclear program. At the time of writing, XAU/USD trades at $4,563, after bouncing off daily lows of $4,489.XAU/USD jumps as ceasefire hopes ease inflation fearsSources familiar with thenegotiations revealed that if an agreement is reached, the Strait of Hormuz will reopen and the US Navy will lift its blockade, allowing the free passage of vessels through the strait. Meanwhile, US President Donald Trump said that…
GBP/USD holds minor gains on Friday after rebounding from intraday lows, supported by improving risk sentiment surrounding a potential US-Iran peace deal. At the time of writing, the pair trades around 1.3460 and is on course to end the week little changed.A senior Iranian source told Reuters that “a political understanding has been reached between Iran and the US, but it has not yet been finalized.” This comes after reports that both sides reached a proposed 60-day memorandum of understanding (MOU) that would extend the current ceasefire and reopen the Strait of Hormuz.Meanwhile, US President Donald Trump said in a…
Reserve Bank’s income from foreign exchange transactions increased to Rs 1.69 lakh crore in 2025-26, up nearly 52 per cent over the previous fiscal year, according to the Reserve Bank data.The central bank exchange gains from foreign exchange transactions was Rs 1.11 lakh crore during the 2024-25 financial year.The RBI also earned Rs 16,354.18 crore from amortisation of premium on foreign securities during the fiscal year ending March 2026, up from Rs 13,686.63 crore in the preceding year, according the RBI’s annual report for 2025-26 released on Friday.Its interest income from foreign securities increased from Rs 97,006.66 crore to Rs…