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At the interbank foreign exchange, rupee opened at 85.43 and moved between the intra-day high of 85.35 and the low of 85.61 against the dollar | Photo Credit: PRIYANSHU SINGH The rupee appreciated 17 paise to settle at 85.40 (provisional) against the US dollar on Monday, on weak US dollar index and a decline in crude oil prices.Forex traders said global investors were also cautious as global rating agency Moody’s downgraded US investment grade rating, leading to a fall in dollar index.At the interbank foreign exchange, the domestic unit opened at 85.43 and moved between the intra-day high of 85.35…

The Indian rupee ended modestly higher on Monday, hoisted by a weaker dollar, hurt by concerns over U.S. debt and deficits following a Moody’s downgrade of the country’s sovereign credit rating late last week. The rupee closed at 85.40 against the U.S. dollar, up 0.1% on the day. The currency had dipped to a low of 85.61 in early trading but reversed course as the dollar declined by about 0.6% against major peers. Asian currencies were mostly stronger on the day with the Thai baht leading gains with a 0.8% rise. Safe havens like the Japanese yen and Swiss franc,…

The Pound Sterling gains against its major peers on Monday ahead of a potential trade deal between the UK and the EU later in the day.Moody’s downgrade of the US Sovereign credit rating has battered the US Dollar.According to analysts, the Fed is unlikely to cut interest rates this year.The Pound Sterling (GBP) trades higher against its major peers, except the Euro (EUR), at the start of the week. The British currency moves higher ahead of the European Union (EU)-United Kingdom (UK) trade summit in London on Monday. Investors will pay close attention to a potential trade deal as it…

The rupee appreciated 16 paise to 85.41 against the US dollar in early trade on Monday, supported by a weak American currency in the overseas market and strong foreign fund inflows. Forex traders said the rupee is expected to trade in a narrow range as Brent oil prices ticked lower amid oversupply concerns, US-Iran nuclear deal talks, while investors awaited the China Factory data. Investors were also cautious as global rating agency Moody’s downgraded US investment grade rating, they added. At the interbank foreign exchange, the domestic unit opened at 85.43 against the greenback, then rose to 85.41, registering a…

Gold prices rose in India on Monday, according to data compiled by FXStreet. The price for Gold stood at 8,848.04 Indian Rupees (INR) per gram, up compared with the INR 8,806.90 it cost on Friday. The price for Gold increased to INR 103,200.20 per tola from INR 102,721.90 per tola on friday. Unit measure Gold Price in INR 1 Gram 8,848.04 10 Grams 88,479.91 Tola 103,200.20 Troy Ounce 275,174.10 FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time…

The dollar index began the week on a strong note by surging 1.5 per cent on Monday. But thereafter it lost steam and fell back to trade stable above 100.5. On the domestic front, the Indian rupee opened stronger on Monday following the India-Pakistan ceasefire announcement. However, it failed to sustain higher and fell all through the week, giving back all the gains.Dollar index forecastThe dollar index (101.09) is at a crucial juncture now. There is support at 100.50 and 100. Resistance is at 101.50 and 102.  If it manages to sustain above 100.50, then a rise to 102 is…

AUD/NZD trades near the 1.0900 zone with minor losses on Friday.The pair maintains a bullish outlook despite mixed short-term signals.Key support is clustered below 1.0880, with resistance near 1.0920.The AUD/NZD pair is experiencing mild selling pressure on Friday, hovering near the 1.0900 zone as the market approaches the Asian session. Despite the minor losses, the broader technical outlook remains constructive, with several key indicators aligning to support the pair’s upward trajectory. However, conflicting short-term signals suggest that further gains may face headwinds, as traders navigate a mix of buy and sell pressures.AUD/NZD maintains a generally bullish structure, supported by the…

AUD/USD trades near 0.6400 with a cautious tone ahead of RBA rate decision.US consumer sentiment weakened, while inflation expectations climbed, adding to market uncertainty.Technical levels suggest support at 0.6399 and resistance near 0.6414, reflecting a range-bound market.The AUD/USD pair is trading around the 0.6400 level during European trading hours on Friday, reflecting a broadly neutral tone as traders await the Reserve Bank of Australia (RBA) interest rate decision next week. The US Dollar Index (DXY) is holding near 101.00, up modestly after a week of mixed US economic data. Despite this, the Australian Dollar remains under pressure amid ongoing trade…

XAG/USD capped at $32.73 (50-day SMA), supported by 100-day SMA near $31.88 amid choppy trade.RSI flat near neutral; a break above $33.00 is needed to turn bias bullish toward $33.50–$34.51A drop below $32.00 may expose $31.65 and the 200-day SMA at $31.23 as bearish pressure builds.Silver prices edged lower on Friday, with losses of over 1%, set to end the week on a negative note amid rising US Treasury yields, which staged a comeback late during the North American session. XAG/USD trades at $32.26 after hitting a daily peak of $32.68 at the time of writing.XAG/USD Price Forecast: Technical outlookXAG/USD…

Moody’s Ratings agency downgraded the US’s sovereign debt credit rating after the market close on Friday. According to Moody’s, the US is facing rising debt funding costs that far exceed those of similar government debt loads. Moody’s specifically highlighted US interest obligations “that are significantly higher than similarly rated sovereigns”.Moody’s has lost faith that the US government will be able to make and execute multi-year reduction plans for reducing its deficits and debt and stating, “Successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs.”Key highlightsUnited…