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The Canadian Dollar pared back further against the US Dollar on Thursday.The Loonie is facing fresh 13-week lows against the Greenback.A lack of Canadian data is keeping the US Dollar in the driver’s seat.The Canadian Dollar (CAD) took another step down against the US Dollar (USD) on Thursday, dipping into fresh 13-week lows and pushing the USD/CAD pair back into the 1.3900 handle. The Canadian Dollar is steadily declining in a one-sided technical slide as Loonie traders await reasons to shift their stance.Central banking is taking a front seat for the remainder of the week, specifically the Federal Reserve (Fed)…
Banco de Mexico (Banxico) revealed the minutes of the August 7 monetary policy meeting, in which the central bank decided to reduce rates by 25 basis points (bps) to 7.75% on a vote split, with Deputy Governor Jonathan Heath in favor of keeping rates unchanged.Central bank reduced rates to 7.75% in August; future easing will hinge on inflation dynamics despite upside riskThe minutes mentioned that inflation fell to 3.51% in July and subdued economic growth despite the modest rebound in the second quarter of 2025, as the main reasons behind the Mexican institution’s decision.Alongside this, the central bank cited that…
Gold retreats after failing to sustain gains above $3,350.A steady US Dollar and firmer Treasury yields cap bullion’s upside.Traders await US economic releases, including weekly Initial Jobless Claims, Existing Home Sales, and preliminary August PMIs for fresh monetary policy cues.Gold (XAU/USD) edges lower on Thursday, retreating modestly after Wednesday’s sharp rebound from three-week lows, as the metal failed to clear technical resistance near $3,350. A steady US Dollar (USD) and firm Treasury yields are weighing on the precious metal, as traders digest the Federal Reserve’s (Fed) July meeting Minutes and position ahead of Fed Chair Jerome Powell’s remarks at the…
The rupee pared initial gains and settled for the day lower by 18 paise at 87.25 (provisional) against US dollar on Thursday, on a strong American currency and a recovery in crude oil prices.Forex traders said, rupee opened on a positive note with the rise in risk appetite in the global markets amid easing tensions over trade tariffs and hopes of truce between Russia and Ukraine.However, the strength of the American currency in the overseas market and rising crude oil prices dented investor sentiments and restricted the upmove in the local unit.At the interbank foreign exchange market, the rupee opened…
The Indian rupee fell on Thursday as aggressive dollar buying by oil importers towards the end of the session pressured the local currency even as persistent greenback sales by foreign banks helped offset some of the losses. The Asian currency closed 0.24% lower at 87.2700 per U.S. dollar on Thursday against its previous close of 87.0650. “There were some debt inflows which had masked the impact, but with that done, we saw the impact of dollar bids,” a trader with a brokerage said.Meanwhile, foreign banks were on the offer side in the dollar/rupee pair again for most part of the…
Gold price stays subdued with limited downside. Fed policy signals weighed on the gold as bets for aggressive easing faded. Markets now eye the Fed Chair speech and the Jackson Hole Symposium. Gold price stays under pressure in the early European session on Thursday with limited downside, as investors weigh Fed policy signals against persistent geopolitical risks. The precious metal trades near recent lows, failing to build on Monday’s rebound as the greenback soars to a one-and-a-half-week high. –Are you interested to learn more about forex options trading? Check our detailed guide- The US dollar’s strength stems from diminishing expectations…
Gold drifts lower on Thursday as hawkish FOMC Minutes continue to underpin the USD.Hopes for a Russia-Ukraine peace deal further exerted pressure on the XAU/USD pair.The global PMIs could drive the commodity ahead of Fed Chair Powell’s speech on Friday.Gold (XAU/USD) maintains its offered tone through the first half of the European session on Tuesday, though it lacks follow-through selling amid mixed cues. The US Dollar (USD) regains positive traction and advances to a one-and-a-half-week high amid diminishing odds for a more aggressive policy easing by the Federal Reserve (Fed). This, in turn, is seen as a key factor driving…
The rupee appreciated 14 paise to 86.93 against the US dollar in early trade on Thursday, on positive domestic equities and a rise in risk-on sentiments. Forex traders said the rupee is trading with a positive bias on a rise in risk appetite in the global markets amid hopes of peace between Russia and Ukraine. Moreover, investors are awaiting cues on the geopolitical front as well as the US FED stance on interest rates. At the interbank foreign exchange, the rupee opened at 87.04, then touched an early high of 86.93, registering a gain of 14 paise over its previous…
The Bank of Japan (BoJ) will raise the interest rate by at least 25 basis points (bps) again by the year-end, according to nearly two-thirds of economists in a Reuters poll, up from just over half a month ago.Additional takeaways67 of 73 economists (92%) expect no change at next policy meeting in September.45 of 71 economists (63%) expect BOJ to raise rates to 0.75% in Q4 2025 (up from 54% last month).Of 40 economists specifying a timeline for the BOJ to move, 38% see the move coming in October, 18% in December, 30% for January next year.22 of 29 economists…
The Dow continues to grapple with the 45,000 region heading through the midweek.Tech stocks saw fresh declines early on Wednesday as investors reconsidered sky-high valuations.Policymaker sentiment will take a front seat heading into the annual Jackson Hole central banking summit.The Dow Jones Industrial Average (DJIA) faced fresh bearish pressures on Wednesday, with the major equity index getting dragged lower in early trading as tech stocks saw further profit-taking. The Dow recovered most of its footing through the midweek market session, but investors remain tightly wound ahead of a large swath of central bank jawboning and business sentiment figures set to…