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The Indian rupee closed nearly unchanged on Wednesday, tracking a muted reaction in global markets to the latest trade salvos from the White House, with traders in the domestic market awaiting news on a U.S.-India trade deal. The rupee ended at 85.6725 against the U.S. dollar, nearly unchanged from its close at 85.6950 in the previous session. Asian currencies were little changed to a tad weaker, while the dollar index retreated slightly from a two-week high hit on Tuesday to last quote at 97.5.The rupee touched a low of 85.9225 earlier in the day but pared losses later in the…

The Indian Rupee weakens against US Dollar as Trump reiterated 10% tariff threats on BRICS nations for de-dollarization practices.Trump threatens to impose 200% tariffs on pharmaceutical imports next year.Investors await the FOMC minutes for the June 17-18 policy meeting.The Indian Rupee (INR) declines against the US Dollar (US) on Wednesday, sending the USD/INR higher to near 86.00. Investors were bracing for weakness in the Indian currency as the United States (US) President reiterated his threats to impose 10% tariffs on BRICS members for supporting anti-American policies.On Tuesday, US President Trump stated while speaking to reporters that the BRICS nations will…

NZD/USD struggles to capitalize on the post-RBNZ spike during the Asian session.Reduced Fed rate cut bets and trade jitters benefit the USD and weigh on the Kiwi.The technical setup favors bearish traders and backs the case for additional losses.The NZD/USD pair fades an intraday spike to the 0.6015 area that followed the Reserve Bank of New Zealand’s (RBNZ) widely expected decision to hold rates steady and retests a two-week low during the Asian session on Wednesday. Spot prices currently trade below the 0.6000 psychological mark and seem vulnerable to slide further amid a broadly stronger US Dollar (USD).The USD Index…

Gold prices fell in India on Wednesday, according to data compiled by FXStreet. The price for Gold stood at 9,095.09 Indian Rupees (INR) per gram, down compared with the INR 9,112.17 it cost on Tuesday. The price for Gold decreased to INR 106,083.70 per tola from INR 106,282.60 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 9,095.09 10 Grams 90,950.12 Tola 106,083.70 Troy Ounce 282,889.10   Daily Digest Market Movers: Gold price is weighed down by reduced Fed rate cut bets US President Donald Trump unnerved investors earlier this week by announcing higher tariff rates…

EUR/USD softens around 1.1705 in Wednesday’s Asian session. US President Trump said he would impose a 50% tariff on imported copper.Traders brace for the FOMC Minutes due later on Wednesday. The EUR/USD pair tumbles to near 1.1705 during the Asian trading hours on Wednesday. The Euro (EUR) weakens against the Greenback as renewed tariff threats from US President Donald Trump unsettle markets. Traders await the FOMC Minutes, which will be released later on Wednesday. Trump broadened his global trade war by threatening a 50% tariff on copper imports and signaled that he might impose levies on semiconductors and pharmaceuticals. Trump noted on Tuesday that trade…

The Australian Dollar gains ground as RBA Bullock warned that inflation risks persist.China’s Consumer Price Index rose 0.1% YoY, while the monthly CPI fell by 0.1% in June.President Trump may announce soon a 50% tariff on imported copper and a 200% tariff on pharmaceutical imports.The Australian Dollar (AUD) appreciates against the US Dollar (USD) on Wednesday, extending its gains for the second successive session. The AUD/USD pair appreciated as the Reserve Bank of Australia (RBA) Governor Michele Bullock said in a post-meeting conference that inflation risks persist due to elevated unit labor costs and weak productivity, which could push inflation…

The USD/JPY price analysis indicates growing concerns about the state of Japan’s economy. Trump sent letters to some countries, including Japan and South Korea, notifying them of higher tariffs. Some major partners, such as the European Union, may not face higher tariffs. The USD/JPY price analysis indicates growing concerns about the state of Japan’s economy following Trump’s announcement of a 25% tariff on its goods, effective in August. The move came after the US and Japan failed to reach a deal before the reciprocal tariff deadline. However, Japan seems willing to continue negotiations. –Are you interested in learning more about…

The rupee rose 26 paise to close at 85.68 (provisional) against the US dollar on Tuesday on the back of a decline in global crude oil prices and a weaker greenback. Foreign fund inflows and firm domestic equity markets further boosted the rupee, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.75 against the US dollar and traded in a narrow range of 85.64-85.80 before settling at 85.68 (provisional), up 26 paise from the previous close. The local unit logged a steep fall of 54 paise to settle at 85.94 against the US dollar on…

The Indian rupee posted modest gains on Tuesday, tracking strength in regional peers, as markets looked past the White House’s tariff letters and instead took solace in the deadline extension to August 1 that leaves room for deals to be struck. The rupee closed at 85.6950 against the U.S. dollar, up about 0.2% from its close at 85.85 in the previous session. Market reaction to U.S. President Donald Trump dispatching letters to 14 trading partner with sharply higher tariffs on imports into the United States was largely muted, with most regional equities and currencies gaining on Tuesday.For instance, while South…

Reserve Bank of Australia (RBA) Governor Michele Bullock is addressing the press conference, explaining the reason behind unexpectedly leaving the key interest rate unchanged at 3.85% in the July policy meeting.Bullock is responding to media questions as part of a new reporting format for the central bank that started this year.For RBA Bullock’s press conference live stream, please follow hereKey quotes from the RBA press conference Already cut by 50 bps effects still to flow through.Appropriate to have cautious gradual stance on easing.This decision was about the CPI timing rather than direction.There was active debate in board room, difference in two…