Author: admin

Rupee declined 17 paise to 86.72 against the US dollar in early trade on Monday as global crude oil prices surged following the US’s attack on three nuclear facilities in Iran.A strengthening dollar and weak domestic equity markets put further pressure on the local unit, according to forex traders.However, an increase in FII inflows and a rise in the country’s forex reserves prevented further losses in the local currency, they said.Brent crude, the global oil benchmark, rose 2 per cent to $77.27 per barrel in futures trade, while the dollar index, which gauges the greenback’s strength against a basket of…

However, a sharp depreciation in the rupee is unlikely, as the RBI’s robust $699 billion forex reserves and an import cover of 11.5 months provide ample firepower to intervene and curb any excess depreciation. | Photo Credit: Andrii Sedykh The rupee and government securities (G-Secs) markets on Monday are expected to feel the ripple impact of the US strikes on Iran amidst the ongoing war between Israel and Iran. The rupee could open weaker on Monday vis-a-vis previous close of 86.5850 per US dollar. However, the Reserve Bank of India (RBI) is likely to intervene in the market to steady…

India’s forex reserves hit $698.950 billion, nearing all-time high, with significant gold holdings and strategic RBI interventions. | Photo Credit: Baskar B 4727@Chennai India’s foreign exchange reserves (forex) extended their gains, jumping $2.294 billion to $698.950 billion in the week ending June 13, official data released by the Reserve Bank of India (RBI) showed.At the latest monetary policy meet, RBI Governor Sanjay Malhotra said the foreign exchange kitty was sufficient to meet 11 months of the country’s imports and about 96 per cent of external debt. With this weekly jump, the forex kitty is close to its all-time high of…

EUR/USD up 0.36%, set to end week flat after Trump delays military action against Iran.Waller’s call for a July cut contrasts with Fed report and Barkin’s cautious stance.EU–US trade deal in jeopardy as July 9 deadline nears, capping upside potential.The Euro recovers some ground against the US Dollar on Friday and is set to finish the week virtually flat as risk appetite deteriorates. This is taking place despite US President Donald Trump delaying a military intervention in the Israel–Iran conflict. At the time of writing, the EUR/USD trades at 1.1534, up 0.36%.Market appetite has turned negative due to US trade…

Gold trades flat near $3,369, on track for a weekly loss of nearly 1.90%.Trump backs off immediate Iran action, boosting risk sentiment and denting safe-haven demand.Fed officials split on rate outlook; Waller eyes July cut, Barkin stays cautious.Gold price trades flat on Friday and is poised to end the week with a nearly 1.90% loss, after US President Donald Trump delayed taking military action against Iran, opting instead for a diplomatic solution. At the time of writing, XAU/USD trades at $3,369, down 0.11%.Sentiment turned sour outside of geopolitical events, related to “US may revoke waivers for allies with semiconductor plants…

21 of 26 economists forecast Banxico will cut rates from 8.50% to 8.00% next week.Deputy Governor Heath signals caution, favoring a pause to assess data.Majority see easing pace slowing, with rates likely at 7.50% by Q3 2025.Banco de México (Banxico) is projected to continue its easing cycle next week, despite the latest inflation reports in Mexico suggesting that risks are tilted to the upside. Inflation in May came above the bank’s 3% target, increasing concerns that the central bank would continue to reduce rates.Most economists expect a fourth straight 50 bps cut, though calls grow for a slower pace aheadOn…

The Dow Jones treaded water on Friday following a late-week holiday closure.Major equity indexes are awaiting key US economic data next week.Fed rate cut expectations are creeping back to the forefront.The Dow Jones Industrial Average (DJIA) held steady on Friday, sticking to chart territory just above the 42,000 major price handle. US equities are increasingly pivoting toward Federal Reserve (Fed) rate cut expectations, and a series of key US data releases next week will draw increased investor attention.Coming up next week: PMIs, Fedspeak, PCE inflationThe next batch of S&P Global Purchasing Managers Index (PMI) figures will kick things off next…

GBP/JPY up 0.43%, on track for weekly gain over 0.40% amid resilient buyer momentum.Pair nears June 17 high at 196.83; close above 197.00 could open path to 198.00.RSI remains bullish; downside risks emerge below 195.29 Tenkan-sen support.The GBP/JPY recovers and rallies for the second straight day, is up 0.43%, trades at 196.59, shy of reclaiming the 197.00, poised to finish the week with gains of over 0.40%. Market mood remains sour, but it was not an excuse for buyers to lift the cross-pair to fresh three-day highs.GBP/JPY Price Forecast: Technical outlookThe GBP/JPY pair remains consolidating, ahead of breaking the June…

WTI crude pulls back after topping $75.54 on Thursday, pressured by easing geopolitical risk.Geneva talks between Iran and EU diplomats signal diplomatic momentum, cooling Strait of Hormuz fears.Trump delays decision on direct US involvement, shifting market focus back to supply fundamentals.West Texas Intermediate (WTI) Crude Oil is trading lower on Friday, slipping to around $73.80 per barrel after touching a high of $75.54 on Thursday.The decline reflects reduced geopolitical risk following diplomatic talks between Iran and European powers in Geneva, which helped unwind the risk premium built on Middle East tensions.WTI slips as Geneva diplomacy calms Hormuz fears, Trump delays…

Silver (XAG/USD) drops for a third straight day, tracking profit-taking as geopolitical risk premium eases.US President Donald Trump signals two-week window before deciding on possible US intervention in Iran–Israel crisis.The price hovers near $36.00, supported by the 100-period moving average on the 4-hour chart, intraday low is at $35.51.Silver (XAG/USD) remains under pressure for a third day in a row on Friday, retreating further after US President Donald Trump announced he would hold off for two weeks before deciding whether the US should step into the escalating Iran–Israel standoff. This pause has eased some of the geopolitical risk premium that…