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GBP/USD rises as May US CPI rose 2.4% YoY, below the 2.5% expected.Traders eye Thursday’s US PPI to confirm easing inflation trend.UK fiscal outlook dims as £2T budget adds to Gilt market pressure.GBP/USD advances on Wednesday during the North American session, boosted by a weaker-than-expected consumer inflation report in the United States (US), which increased speculation that the Federal Reserve (Fed) may reduce borrowing costs twice in 2025. At the time of writing, the pair trades at 1.3537, up 0.34%.Cable extends gains above 1.35 after soft US inflation print raises expectations for two Fed cuts in 2025The Consumer Price Index…

The USD/JPY forecast shows an increasing likelihood that the BoJ will delay rate hikes to next year. Talks between China and the US ended, easing trade war fears. Traders are paying close attention to the upcoming US CPI report. The USD/JPY forecast shows an increasing likelihood that the Bank of Japan will delay rate hikes to next year. Meanwhile, talks between the US and China ended with few details. At the same time, market participants are awaiting the US CPI report for clues on the future of Fed rate cuts.  –Are you interested to learn more about crypto signals? Check…

The US-China deal fails to provide any significant support to the US Dollar.The lack of details about the agreement has triggered some scepticism among the investors.Markets are increasingly cautious ahead of the US CPI release and a 10-Year US Bond auction.The Dollar featured a tepid reaction to the trade deal between the US and China. Price action has remained limited within the last four days’ trading range, with upside attempts failing to find follow-through above the 99.00 level.The world’s two major economies seem to have agreed on a “framework” to ease restrictions on rare earths trade, allowing them to return…

The rupee rose 6 paise to 85.51 against the US dollar in early trade on Wednesday, aided by strong FII inflows and a decline in global crude oil prices. The rupee could move within a range of 85.40-90 during the day, with the mid-month demand coming up for oil, defence, and government payments, forex traders said. At the interbank foreign exchange, the rupee opened at 85.53 against the greenback before inching up to 85.51, higher by 6 paise from its previous close. The domestic unit rose 9 paise to settle at 85.57 on Tuesday. “The rupee was in a range-bound,…

Gold price regains positive traction following the previous day’s range-bound price moves.Trade-related uncertainties and geopolitical risks underpin the safe-haven precious metal. A modest USD strength might cap the XAU/USD ahead of the critical US inflation figures.Gold price (XAU/USD) attracts fresh buyers during the Asian session on Wednesday and climbs back above the $3,340 level in the last hour, closer to the weekly high touched the previous day. A federal appeals court ruled on Tuesday that US President Donald Trump’s sweeping tariffs can temporarily stay in effect, adding another twist to the trade saga. This, along with rising geopolitical tensions, is…

USD/CAD trades flat around 1.3670 in Wednesday’s early Asian session. A potential US-China trade deal could provide some support to the US Dollar. The BoC held the key rate steady but says a future cut is possible.The USD/CAD pair holds steady near 1.3670 during the early Asian session on Wednesday. Easing trade tension between the United States (US) and China could underpin the US Dollar (USD). Investors will closely monitor the result of the US-China trade talks. Also, the US May Consumer Price Index (CPI) data will take center stage later on Wednesday. US Commerce Secretary Howard Lutnick hinted at potential resolutions with…

USD/JPY remains supported above 144.00 as US-China trade talks remain in focus.Bank of Japan Governor Kazuo Ueda’s hawkish tilt limits Yen weakness.The US Dollar steadies ahead of Wednesday’s US inflation data, which could contribute to Fed rate bets.The Japanese Yen (JPY) is steadying against the US Dollar (USD) on Tuesday, with the USD/JPY pair hovering above the 144.00 level in relatively muted trade. With markets focused on US–China trade negotiations and broader risk sentiment, USD/JPY remains sensitive to shifts in both geopolitical developments and interest rate expectations. While the trade talks in London appear to be making progress, a more hawkish tone…

59 of 105 economists polled by Reuters said that they expect the Federal Reserve (Fed) to resume cutting interest rates in the next quarter, likely in September.More than 60% of polled economists also said that they see the Fed lowering the policy rate at least twice this year. According to the findings, the US economy is forecast to expand by 1.4% in 2025 and 1.5% in 2026.Market reactionThe US Dollar (USD) Index showed no immediate reaction to this headline and was last seen trading flat on the day at 99.00. Fed FAQs Monetary policy in the US is shaped by…

Rupee rose 4 paise to close at 85.62 (provisional) against the US dollar on the back of strong foreign capital inflows. However, a mixed sentiment in the domestic equity markets, a rise in global crude oil prices, and a stronger US dollar against major currencies capped further gains in the local unit, according to forex traders. Foreign institutional investors (FIIs) had purchased equities worth ₹1,992.87 crore on a net basis on Monday, according to exchange data. At the interbank foreign exchange, rupee opened at 85.62 and registered an intra-day peak of 85.51 and a low of 85.68 before settling at…

Oil prices firmed yesterday, a trend that continued in early morning trading today, ING’s commodity experts Ewa Manthey and Warren Patterson note.US/China trade talks seem to be progressing”Trade talks between the US and China appear to be progressing, with discussions set to continue today. The US also appears willing to ease some tech export restrictions in return for China easing limits on rare earth exports. This is providing some support to the market. Meanwhile, nuclear talks between Iran and the US don’t appear to be progressing, providing some tailwinds for prices. Iran is not willing to compromise on its right…