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The Mexican Peso strengthens, supported by steady demand for risk assets.The Peso’s short-term trajectory will largely depend on Banxico’s next rate decision.USD/MXN slides as Dollar declines accelerate, with the pair vulnerable to deeper losses if bearish sentiment continues.The Mexican Peso (MXN) posts a second consecutive day of gains on Wednesday against the US Dollar (USD),  slipping below 19.40 ahead of key commentary from Federal Reserve (Fed) officials that could influence the monetary policy outlook.At the time of writing, USD/MXN is trading 0.33% lower at 19.36 as markets continue to digest Tuesday’s softer US CPI data, narrowing interest rate differentials, and…

The US Dollar trades weaker again on Wednesday, for a second consecutive day, after softer-than-expected US inflation data. The Korean Won strengthens against the Greenback after the announcement that both countries have discussed Forex markets.  The US Dollar Index nosedives to test the 100-level and bounces just ahead of it. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is adding to its losses and dives toward the 100-marker, near 100.60 on Wednesday. The downside move comes after softer-than-expected inflation in the US and the confirmation that the United States (US) and South Korea…

The rupee pared most of its initial gains and ended the day higher by 10 paise at 85.26 (provisional) against the American currency on Wednesday, supported by gains in domestic equities and positive macroeconomic data.Forex traders said the weakness of the American currency in the overseas market and a rising appetite for riskier assets amid easing trade tariff tensions boosted investors’ sentiments.At the interbank foreign exchange, the domestic unit opened on a positive note and moved between the intra-day high of 85.05 and the low of 85.52 against the greenback. The unit ended the session at 85.26 (provisional), registering a…

NZD/USD could target the rectangle’s upper boundary around 0.6020, followed by the six-month high of 0.6038.The 14-day RSI has climbed above the 50 level, hinting at a developing bullish bias.A break below the nine-day EMA of 0.5929 would weaken the short-term price momentum.The NZD/USD pair holds gains after registering approximately 1.50% gains in the previous session, trading around 0.5940 during the European hours on Wednesday. The technical analysis of the daily chart indicates a neutral stance, as the pair continues to consolidate within a rectangular range.However, the 14-day Relative Strength Index (RSI) has climbed above the 50 level, hinting at…

The rupee appreciated 31 paise to 85.05 against the US dollar in early trade on Wednesday, supported by gains in domestic equities and positive macroeconomic data. Forex traders said a surge in global crude oil prices may weigh on the rupee. Over the last few sessions, Brent crude prices have surged to near $66 per barrel, which could widen India’s trade deficit. Moreover, foreign fund outflows also contained the appreciation of the domestic unit to some extent. At the interbank foreign exchange, the domestic unit opened at 85.05 against the greenback, registering a gain of 31 paise over its previous…

The Australian Dollar holds ground as the US Dollar weakened following softer-than-expected US inflation data.Australia’s Wage Price Index rose by 0.9% QoQ in Q1, against the expected 0.8% increase.US President Donald Trump described the relationship with China as excellent.The Australian Dollar (AUD) extends its gains against the US Dollar (USD) on Wednesday after registering more than 1.50% gains in the previous session. The AUD/USD pair strengthened as the US Dollar weakened following softer-than-expected US inflation data.Australia’s seasonally adjusted Wage Price Index rose by 3.4% year-over-year in Q1 2025, up from a 3.2% increase in Q1 2024 and surpassing market forecasts…

WTI price gains momentum to around $63.25 in Wednesday’s early Asian session. The US and China slash tariff rates by 115%, supporting the WTI price. Crude oil stockpiles in the US rose by 4.287 million barrels last week, according to the API. West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.25 during the Asian trading hours on Wednesday. The WTI price extends its upside amid easing trade tensions between the United States (US) and China, which prompt traders to dial back odds of a recession. The US and China agreed over the weekend in Switzerland to slash tariff rates by 115%. US President Donald…

USD/CHF tests round-level support at 0.8400 after softer-than-expected US CPI data for April.The US Dollar Index (DXY) retraces to 101.30, pressured by cooling inflation and fading trade optimism.Swiss Franc remains firm against major peers, supported by a cautious market tone.The USD/CHF pair retraces towards the critical round-level support of 0.8400 during the North American session on Tuesday. The US Dollar (USD) faced selling pressure following the release of the United States (US) Consumer Price Index (CPI) data for April, which revealed that inflation grew at a moderate pace, coming in below market expectations. According to the US Bureau of Labor…

The Greenback on the backfoot this Tuesday while the US-China trade deal euphoria quickly fades. Traders mull the upcoming US CPI release while details remain sketchy on the US-China trade deal. The US Dollar Index slips back to 101.60 after failing to reclaim the  102.00 level.The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, corrects to near 101.60 halfway thrgouh the European trading session on Tuesday. The partial paring back of Monday’s gains comes as traders become wary of the lack of detail on the recent trade deal between China and the United…

The rupee pared most of its initial gains to settle 3 paise higher at 85.33 (provisional) against the American currency on Tuesday, due to rising appetite for riskier assets amid easing trade tariff tensions.However, rising crude oil prices, a strong US dollar and the emergence of profit booking in domestic equities restricted the rise of the domestic unit, traders said.At the interbank foreign exchange, the domestic unit opened at 84.70 and moved between the intra-day high of 84.62 and the low of 85.48 against the greenback. The unit ended the session at 85.33 (provisional), registering a gain of 3 paise…