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Gold price recovers its early losses as the US Dollar falls back, with the legal roadblock of Trump’s tariffs raising global economic uncertainty.The US court orders the administration to lift reciprocal import duties and tariffs related to fentanyl and immigration controls.US businesses are expected to suspend their investment plans until they receive clarity on levies.Gold price (XAU/USD) claws back the majority of its initial losses and recovers above $3,300 in Thursday’s North American trading session from the weekly low of $3,245 posted earlier in the day. The yellow metal bounces back as the US Dollar (USD) gives up its early…

A surge in the US dollar index and crude oil prices weighed on the rupee | Photo Credit: PRIYANSHU SINGH The rupee declined 10 paise to close at 85.48 (provisional) against the US dollar on Thursday due to a strong American currency against major crosses overseas and rising global crude oil prices.However, positive domestic equity market and foreign fund inflows supported the local currency and restricted its slide, forex traders said.At the interbank foreign exchange, the domestic unit opened at 85.56 and touched the intra-day low of 85.62 against the greenback. The unit hit the day’s high of 85.40 before…

The Indian rupee weakened slightly on Thursday, as the greenback firmed following a court decision to block President Donald Trump’s “reciprocal tariffs” from going into effect, while traders also pointed to importer dollar bids weighing on the local unit. The rupee closed at 85.5075 against the U.S. dollar, down 0.2% from its close at 85.36 in the previous session. The dollar index rose to an over one-week high of 100.48 before slipping back below the 100-handle while Asian currencies were trading mixed.The offshore Chinese yuan was little changed at 7.19 while the Malaysian ringgit led losses among Asian peers, with…

The Pound Sterling recovers to 1.3470 against the US Dollar as investors reassess the impact of the US court’s decision against tariffs.The US court ruled out Trump’s tariff policy, citing it as a violation of constitutional limits.The IMF has slightly raised its forecast for UK GDP growth for the year to 1.2%The Pound Sterling (GBP) recovers early losses against the US Dollar (USD), after hitting a bottom of 1.3415, and trades flat around 1.3470 during European trading hours on Thursday. The GBP/USD pair rebounds as the US Dollar surrenders a chunk of its initial gains, as the United States (US)…

The rupee depreciated 7 paise to 85.45 against the US dollar in early trade on Thursday as the American currency strengthened after the US federal court blocked President Donald Trump’s sweeping reciprocal tariff order, fuelling hope of ending global trade uncertainties. The local unit was weighed down by higher crude oil prices overseas and disappointing domestic data on industrial output for April. However, inflow of foreign funds and buying trend in domestic equities capped the rupee’s fall, forex traders said. At the interbank foreign exchange, the domestic unit opened at 85.56 and gained some ground to trade at 85.45 against…

Austria’s version of the FBI, the Federal Office for the Protection of the Constitution, claimed Iran is continuing with its active nuclear weapons program, which it says can be used to launch missiles over long distances, per Fox News. “The Iranian nuclear weapons development program is well advanced, and Iran possesses a growing arsenal of ballistic missiles capable of delivering nuclear warheads over long distances,” said the Austrian domestic intelligence agency report. Market reactionAt the time of writing, the Gold price (XAU/USD) is trading 0.72% lower on the day to trade at $3,263.  Risk sentiment FAQs In the world of financial jargon the…

Gold retreats after earlier bounce to $3,325; sellers return as yields and US Dollar regain footing.Fed Minutes eyed for clarity; dovish surprise could reignite Bullion’s stalled rally.Goldman Sachs urges higher Gold allocation amid geopolitical risks and central bank demand.Gold price extended its losses during the North American session on Wednesday after hitting a daily high of $3,325 earlier in the day as market sentiment shifted sour. Nevertheless, sellers stepped in, driving the yellow metal prices below $3,300, resulting in a solid 0.18% decline.Price action has remained calm as traders await the release of the Minutes of the latest Federal Reserve…

EUR/USD has bounced up from the 1.1300 area and is trading practically flat on the daily chart.The Dollar loses ground as investors grow cautious with the FOMC minutes on focusThe Euro is under growing bearish momentum, with 1.1260 support in focus.EUR/USD has regained lost ground during Wednesday’s European session. The pair found support at the 1.1300 area but remains unable to extend gains above 1.1340, with investors looking from the sidelines, awaiting the minutes of the Fed’s May meeting.The  US Dollar (USD) had been rallying across the board in previous sessions, supported by a significant recovery in US Consumer Confidence,…

The rupee pared losses and settled on a flat note at 85.40 (provisional) against the US dollar in a volatile trade on Wednesday amid rising crude oil prices and a negative trend in domestic equities. Forex traders said increased month-end dollar demand added strength to the American currency, keeping the local unit under pressure, while investors also moved cautiously awaiting cues from domestic macroeconomic data. India’s industrial production data for April will be released later in the day, while the GDP growth figures for the first quarter of FY26 are scheduled to be announced on Friday. At the interbank foreign…

The Indian rupee ended nearly flat on Wednesday, as the impact of month-end dollar demand from importers was offset by an uptick in regional peers. The rupee closed at 85.36 against the U.S. dollar from 85.33 in the previous session. The unit weakened to 85.70 earlier in the session, but recouped most losses as the dollar index eased. Traders built up intra-day shorts on the rupee in anticipation of outflows related to an equity block deal but the price action indicated that the flows did not materialise as expected, a trader at a Mumbai-based bank said.British American Tobacco sold a…