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The Indian Rupee gains sharply against the US Dollar ahead of the US NFP data for June.The US NFP data will significantly influence market expectations for the Fed’s monetary policy outlook.FIIs have sold Indian equities worth Rs. 3,531.76 crores in the first two trading days of July.The Indian Rupee (INR) surges against the US Dollar (USD) during the European trading session on Thursday. The USD/INR pair posts a fresh monthly low near 85.40 as the US Dollar drops ahead of the United States (US) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT.The US NFP report…

USD/CAD rebounds to around 1.3595 in Thursday’s early European session. The pair keeps the negative outlook below the 100-day EMA with a bearish RSI indicator. The initial support emerges at 1.3555; the first upside barrier is located at 1.3700.The USD/CAD pair recovers some lost ground to near 1.3595 during the early European session on Thursday. The potential upside for the pair might be limited as weaker AUS ADP employment numbers supported market expectations of a Federal Reserve (Fed) interest rate cut. The attention will shift to the US Nonfarm Payrolls (NFP) report for June, which will be published later on Thursday. According to…

The Australian Dollar remains subdued after the trade surplus narrowed to 2,238M MoM in May, against the expected 5,091M.China’s Caixin Services PMI fell to 50.6 in June from 51.1 in May, missing the market expectations of 51.0.Traders expect the US Nonfarm Payrolls to increase by 110,000 in June.The Australian Dollar (AUD) holds losses against the US Dollar (USD) on Thursday following the release of key economic data. However, the downside of the AUD/USD pair could be restrained as the US Dollar (USD) may lose ground amid rising expectations that the Federal Reserve (Fed) will cut interest rates, driven by the…

The rupee depreciated 8 paise to 85.70 against the US dollar in early trade on Thursday amid renewed headwinds from global risk sentiment and persistent foreign fund outflows. Forex traders said the rupee was trading in a narrow range largely due to RBI’s cautious strategy as any dip in USD-INR is likely to be met with dollar buying by the RBI, not only to manage maturities but also to rebuild its intervention cushion. This persistent demand for dollars by the central bank is limiting the gains for the rupee, they said. At the interbank foreign exchange, the domestic unit opened…

Gold price stalls ahead of Thursday’s Nonfarm Payrolls (NFP) report for clues on the health of the US labour market.Fiscal concerns continue to rise as Trump’s tax bill moves to the next stage. If passed, the budget deficit is expected to rise, which could boost demand for Gold.XAU/USD lingers below $3,350 as momentum indicators remain steady above neutral territory.Gold (XAU/USD) price is trading in a tight range as traders digest Wednesday’s Automatic Data Processing (ADP) employment data and look ahead to Thursday’s Nonfarm Payroll (NFP) report.With XAU/USD hovering near $3,340 at the time of writing, US President Trump’s tax bill…

GBP/JPY stays under strong selling pressure and trades below 196.00 on Wednesday.UK gilt selloff weighs on Pound Sterling.UK Prime Minister Keir Starmer refused to confirm that finance minister Rachel Reeves will remain in her position.Pound Sterling stays under heavy selling pressure on Wednesday as markets assess the latest political developments in the UK. At the time of press, GBP/JPY was trading at its lowest level in two weeks near 195.50, losing 0.8% on a daily basis.British finance minister Rachel Reeves seemed visibly upset during PMQs on Wednesday after Prime Minister Keir Starmer refused to guarantee that she would remain in…

WTI Crude trades in a tight range near $64.50, consolidating after a sharp drop triggered by the Iran–Israel ceasefire.Geopolitical risk premiums unwind, with traders cautious ahead of the July 6 OPEC+ meeting.The EIA report is due later on Wednesday, last week’s 3.5 million barrel draw was smaller than expected.West Texas Intermediate (WTI) Crude Oil continues to trade in a narrow range on Wednesday, consolidating after a sharp selloff triggered by the Iran–Israel ceasefire, as geopolitical risk premiums unwind and traders reposition ahead of the upcoming Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting. While the initial drop erased…

The USD/CAD price analysis shows stronger bullish sentiment as the dollar recovers. The JOLTS report revealed that job openings in the US rose to 7.77 million. Economists expect slower US job growth in June and for the unemployment rate to jump from 4.2% to 4.3%. The USD/CAD price analysis shows stronger bullish sentiment as the dollar recovers on signs of strength in the US labor market. However, market participants are still awaiting the crucial monthly employment report for more clues on the outlook for Fed rate cuts.  –Are you interested in learning more about MT5 brokers? Check our detailed guide-…

The rupee depreciated 9 paise to close at 85.68 (provisional) against US dollar on Wednesday, on weak domestic equity markets and a rise in crude oil prices. Forex traders said a slight recovery in the US dollar too weighed on the rupee as market players await the conclusion of India-US trade deal, which is at its final stage. At the interbank foreign exchange, the domestic unit opened at 85.59 against the greenback and touched an intra-day high of 85.57 and a low of 85.75 against the greenback during the day. At the end of Wednesday’s trading session, the local unit…

The EUR/USD forecast indicates a rebound in the dollar after upbeat employment figures. Job vacancies in the US exceeded the estimated number. Powell did not rule out the possibility of a rate cut at the next meeting. The EUR/USD forecast indicates a rebound in the dollar after upbeat employment figures in the previous session. However, a growing policy divergence between the Fed and the ECB has kept the pair bullish. The Fed is becoming increasingly dovish and is more inclined to cut interest rates. On the other hand, the ECB seems comfortable with pausing.  –Are you interested in learning more…