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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…

Australian Treasurer Jim Chalmers said on Tuesday that the Reserve Bank of Australia (RBA) hold is not the result millions of Australians were hoping for or what the market was expecting. Chalmers further stated that the Australian central bank has indicated the direction of travel on inflation and interest rates has been established. Market reactionAt the time of writing, the AUD/USD pair is trading 0.85% higher on the day to trade at 0.6546. RBA FAQs The Reserve Bank of Australia (RBA) sets interest rates and manages monetary policy for Australia. Decisions are made by a board of governors at 11 meetings a year…

The Indian Rupee rebounds against the US Dollar amid firm expectations that India and the US will reach a deal soon.Trump slams 14 countries with reciprocal tariffs on Monday.Investors await the FOMC minutes to be released on Wednesday.The Indian Rupee (INR) recovers against the US Dollar (USD) during the European trading session on Tuesday. The USD/INR pair corrects to near 85.88 from the weekly high of 86.15 posted on Monday. The pair retraces as United States (US) President Donald Trump has reiterated confidence that Washington will strike a trade agreement with India.”We’ve made a deal with the United Kingdom (UK),…

USD/CAD depreciates as US Dollar declines following updated Trump’s tariff rates.President Trump announced new tariffs of up to 40% on 14 countries.The Canadian Dollar remains stable as the Prime Minister Office said that Canada was not targeted by the US tariffs.USD/CAD depreciates after registering over 0.50% gains in the previous session, trading around 1.3650 during the Asian hours on Tuesday. The pair faces challenges as the US Dollar (USD) struggles, driven by market caution. This follows US President Donald Trump’s announcement of updated tariff rates on 14 countries that have yet to secure trade deals with Washington.US President Donald Trump…

AUD/NZD attracts significant bids and jumps to near 1.0860 as the RBA surprisingly kept the OCR steady at 3.85%.The RBA kept interest rates steady to get more clarity on whether inflation is on track to return to the 2.5% target.Investors expect the RBNZ to leave the OCR unchanged at 3.25%.The AUD/NZD pair jumps to near 1.0860 during the Asian session on Tuesday. The pair attracts significant bids as the Reserve Bank of Australia (RBA) has surprisingly kept its Official Cash Rate (OCR) steady at 3.85%.Traders were increasingly confident that the RBA will reduce interest rates by 25 basis points (bps)…

The rupee rose 22 paise to 85.72 against the US dollar in early trade on the back of fall in global crude oil prices and a weaker greenback. FII inflows and a positive domestic equity market further boosted the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.75 against the US dollar before rising further to 85.72, up 22 paise against its previous close. The local unit logged a steep fall of 54 paise to settle at 85.94 against the US dollar on Monday. “The rupee recovered towards closing yesterday (Monday) after falling…

 Market sentiment remains stable after U.S. President Donald Trump sent tariff letters to 14 countries, including Japan and South Korea, with a new implementation date of August 1 instead of the earlier July 9.  | Photo Credit: iStockphoto The Indian rupee is likely to open marginally higher on Tuesday, helped by the calm in Asian markets despite U.S. President Donald Trump imposing higher tariffs on South Korea and Japan among others.Trump’s comments about nearing a trade agreement with India are supportive of the rupee, according to traders.The 1-month non-deliverable forward indicated a open in the 85.70-85.75 range, versus 85.8500 in…

The rupee fell sharply by 47 paise to close at 85.87 (provisional) against the US dollar on Monday amid rising global crude oil prices and a strong American currency. Outflow of foreign funds fuelled by uncertainties over US President Donald Trump’s trade tariffs put further pressure on the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.53 against the US dollar and traded in the range of 85.51-86.03 before settling at 85.87 (provisional), lower by 47 paise from its previous close. The rupee had settled at 85.40 against the US dollar on Friday.…

The USD/CAD outlook indicates a rallying dollar as markets prepare for Trump’s reciprocal tariffs. The US has only signed trade deals with the UK, China, and Vietnam. Market participants are expecting crucial employment figures from Canada this week. The USD/CAD outlook shows a rallying dollar as markets brace for Trump’s reciprocal tariff deadline. Meanwhile, the Canadian dollar is plunging as traders worry about the likely impact of higher tariffs on Canada’s economy.  –Are you interested in learning more about Forex indicators? Check our detailed guide- With few major economic releases this week, all focus is on the looming tariff deadline.…

The Indian rupee slumped on Monday as uncertainty about U.S. tariff policies resurfaced with President Donald Trump’s threat of a fresh 10% levy on BRICS countries compounding pressure on the local currency alongside peers like South African rand and Chinese yuan. Worries over U.S. trade policies dented risk sentiment across the board, pushing Asian currencies and equities into the red while U.S. equity futures pointed to a weak return from the long weekend. The rupee had declined to a low of 86.0275 per U.S. dollar during the session but pared losses to close at 85.85 per U.S. dollar, down 0.5%…