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The rupee depreciated 18 paise to 87.76 against the US dollar in early trade on Friday, weighed down by persistent foreign fund outflows and month-end dollar demand.Forex traders said the rupee is under persistent pressure as the weakness from Trump tariffs was being countered by a softer US dollar, giving the local currency some much-needed breathing space.At the interbank foreign exchange market, the rupee opened at 87.73 against the US dollar, then fell to 87.76, registering a decline of 18 paise over its previous close.On Thursday, the rupee rose by 11 paise to close at 87.58 against the US dollar.“Market…

The Indian rupee had lost 0.2% on the month in June, underperforming other Asian peers amid a broad dollar downtrend.  The Reserve Bank of India sold a net of $3.66 billion in the spot foreign exchange market in June, data released late on Thursday as part of the central bank’s monthly bulletin showed.The RBI said it purchased $1.16 billion and sold $4.82 billion during the month. In May, the central bank had bought a net of $1.76 billion in the spot market.The Indian rupee had lost 0.2 per cent on the month in June, underperforming other Asian peers amid a…

The Reserve Bank of India sold a net of $3.66 billion in the spot foreign exchange market in June, data released late on Thursday as part of the central bank’s monthly bulletin showed. The RBI said it purchased $1.16 billion and sold $4.82 billion during the month. In May, the central bank had bought a net of $1.76 billion in the spot market. The Indian rupee had lost 0.2% on the month in June, underperforming other Asian peers amid a broad dollar downtrend. The currency moved in a band of 85.3025 to 86.8925 against the dollar during the month.The RBI’s…

The Japanese Yen strengthens, dragging USD/JPY below the 147.00 psychological level.The US Dollar is pressured by concerns over Fed independence and a dovish monetary policy outlook, overshadowing upbeat US GDP and jobs data.Focus shifts to Friday’s July PCE and Japan’s Tokyo CPI, labor and retail figures for fresh direction.The Japanese Yen (JPY) strengthens against the US Dollar (USD) on Thursday, with USD/JPY slipping below the 147.00 mark as the Greenback remains under pressure. Concerns over the Federal Reserve’s (Fed) independence and expectations of a dovish policy shift, reinforced by Chair Jerome Powell’s remarks at the Jackson Hole Symposium, overshadow the…

XAU/USD rallies 0.43% as US Dollar weakens and US yields fall, lifting Gold to $3,413 peak.Solid GDP growth and lower jobless claims highlight US economic resilience, but safe-haven flows dominate.Fed Governor Cook sues Trump over firing attempt, stoking concerns on central bank independence and policy outlook.Gold price rises to a five-week high of $3,413 as traders shrug off solid economic data from the United States (US), which justifies the current stance by the Federal Reserve (Fed) to hold rates unchanged. However, safe-haven demand, driven by threats to the Fed’s independence, underpins Bullion prices.The XAU/USD trades with gains of over 0.43%,…

The Dow Jones struggled to find momentum in either direction on Thursday.Nvidia posted strong revenue figures, but a lack of China chip sales stunted AI bidders.A fresh round of US PCE inflation, due on Friday, is keeping investors at bay.The Dow Jones Industrial Average (DJIA) ground to a halt on Thursday, stuck near the 45,500 region as investors await the latest batch of United States (US) Personal Consumption Expenditures Price Index (PCE) inflation data, due on Friday. The Dow is still holding close to record highs reached last week, but further topside momentum will require further evidence that markets are…

The US Dollar (USD) extended further its weekly correction as jitters surrounding the Fed’s independence remained unabated, while tariff uncertainty and the increasing likelihood of a rate cut by the Federal Reserve in September also contributed to the sour sentiment around the Greenback.Here’s what to watch on Friday, August 29:The US Dollar Index (DXY) retreated to three-day lows, breaking below the 98.00 key support and its 55-day SMA. The release of the PCE readings will be the salient event, seconded by the final gauge of the U-Mich Consumer Sentiment and the advanced Goods Trade Balance.EUR/USD advanced to multi-day highs, although…

Silver consolidates near $39.00 after hitting a one-month high of $39.12 earlier in the session.The US Dollar remains under pressure despite upbeat GDP data, offering support to non-yielding assets such as Silver.XAG/USD confirms a bullish breakout, holding above key moving averages after a successful retest of the triangle pattern.Silver (XAG/USD) is consolidating gains near one-month highs on Thursday, following a successful retest of former triangle resistance around $38.00. Wednesday’s rebound confirmed the breakout structure and helped reinforce bullish momentum, supported by a softer US Dollar (USD). With XAG/USD holding above key moving averages, the near-term technical outlook remains constructive for…

The USD/JPY outlook shows the yen in a stronger position as the dollar eases. New York Fed Chief John Williams said a rate cut is possible. Market participants are eagerly awaiting a key US inflation report scheduled for release on Friday. The USD/JPY outlook indicates the yen is in a stronger position as the dollar eases amid an increase in bets for a Fed rate cut. The greenback dropped after dovish comments from a Fed policymaker. At the same time, lingering concerns persist about the Fed’s independence. –Are you interested in learning more about crypto robots? Check our detailed guide-…

The rupee rose by 6 paise to close at 87.63 (provisional) against the US dollar on Thursday aided by a weaker greenback and a decline in crude oil prices. However, concerns over additional US tariffs on Indian products, which kicked in on Wednesday, and a decline in domestic equity markets capped gains in the local unit, according to forex traders. The US government has imposed a total of 50 per cent tariffs on Indian exports to America, barring a few sectors.At the interbank foreign exchange, the rupee opened at 87.56 against the greenback and traded in the range of 87.53-87.68…