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WTI price gains momentum to around $63.25 in Wednesday’s early Asian session. The US and China slash tariff rates by 115%, supporting the WTI price. Crude oil stockpiles in the US rose by 4.287 million barrels last week, according to the API. West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.25 during the Asian trading hours on Wednesday. The WTI price extends its upside amid easing trade tensions between the United States (US) and China, which prompt traders to dial back odds of a recession. The US and China agreed over the weekend in Switzerland to slash tariff rates by 115%. US President Donald…

USD/CHF tests round-level support at 0.8400 after softer-than-expected US CPI data for April.The US Dollar Index (DXY) retraces to 101.30, pressured by cooling inflation and fading trade optimism.Swiss Franc remains firm against major peers, supported by a cautious market tone.The USD/CHF pair retraces towards the critical round-level support of 0.8400 during the North American session on Tuesday. The US Dollar (USD) faced selling pressure following the release of the United States (US) Consumer Price Index (CPI) data for April, which revealed that inflation grew at a moderate pace, coming in below market expectations. According to the US Bureau of Labor…

The Greenback on the backfoot this Tuesday while the US-China trade deal euphoria quickly fades. Traders mull the upcoming US CPI release while details remain sketchy on the US-China trade deal. The US Dollar Index slips back to 101.60 after failing to reclaim the  102.00 level.The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, corrects to near 101.60 halfway thrgouh the European trading session on Tuesday. The partial paring back of Monday’s gains comes as traders become wary of the lack of detail on the recent trade deal between China and the United…

The rupee pared most of its initial gains to settle 3 paise higher at 85.33 (provisional) against the American currency on Tuesday, due to rising appetite for riskier assets amid easing trade tariff tensions.However, rising crude oil prices, a strong US dollar and the emergence of profit booking in domestic equities restricted the rise of the domestic unit, traders said.At the interbank foreign exchange, the domestic unit opened at 84.70 and moved between the intra-day high of 84.62 and the low of 85.48 against the greenback. The unit ended the session at 85.33 (provisional), registering a gain of 3 paise…

NZD/USD may face immediate resistance near the nine-day EMA at 0.5912.The 14-day RSI sits at the 50 level, indicating a neutral bias.The pair may retest initial support at the rectangle’s lower boundary around 0.5850.The NZD/USD pair retraces its recent losses registered in the previous session, trading around 0.5890 during the European hours on Tuesday. The technical analysis of the daily chart suggests a neutral outlook, with the pair consolidating within a rectangular range.Additionally, the 14-day Relative Strength Index (RSI) is positioned on the 50 mark, suggesting a neutral bias. A clearer directional trend may emerge with further price movement. However,…

The rupee appreciated 74 paise to 84.62 against the US dollar in early trade on Tuesday, supported by optimism from easing of tensions between India and Pakistan as well as the US-China trade deal. Forex traders said continued foreign investor interest in Indian assets lent fundamental support to the local unit. India and Pakistan on last Saturday announced reaching an understanding to stop all firings and military actions on land, air and sea, with immediate effect. At the interbank foreign exchange, the domestic unit opened at 84.70 and fell to an early low of 84.74 and a high of 84.62…

Gold price trades in negative territory around $3,235 in Tuesday’s Asian session. US and China agreed to de-escalate their trade war by lowering import tariffs on each other’s goods for 90 days. Traders brace for the US April CPI inflation report, which is due later on Tuesday. The Gold price (XAU/USD) edges lower to around $3,235 during the early Asian session on Tuesday. The precious metal remains on the defensive due to a stronger US Dollar (USD), higher US yields, and optimism on the US-China trade deal. Later on Tuesday, traders will take more cues from the US April Consumer Price Index (CPI)…

US Trade Representative Jamieson Greer said late Monday that China has agreed to remove countermeasures. However, if things don’t work out, China tariffs can go back up.Key quotesChina has agreed to remove countermeasures.Outcome of China tariff talks ‘pragmatic’.If things don’t work out, China tariffs can go back up.Market reactionAt the time of writing, the AUD/USD pair is trading 0.03% higher on the day to trade at 0.6375. US-China Trade War FAQs Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as…

EUR/CAD trades around the 1.5600 zone after a modest decline in Monday’s session.Short-term indicators confirm bearish sentiment, while longer-term trends remain mixed.Key support levels hold below, while resistance clusters just above the current range.The EUR/CAD pair traded near the 1.5600 zone on Monday, reflecting a minor loss after the European session as selling pressure persisted. The pair remains within the middle of its daily range, suggesting cautious sentiment as traders assess the broader outlook. While short-term momentum remains tilted to the downside, longer-term trend indicators provide a more supportive backdrop, adding complexity to the current technical picture.From a technical standpoint,…

The Euro (EUR) is weak, down 1.5% vs. the US Dollar (USD) and seeing its largest one day decline since early November, around the time of the US election, Scotiabank’s Chief FX Strategist Shaun Osborne notes. Yield moves in Europe fail to keep pace with US”The outlook for relative central bank policy is pressuring the EUR as relief over the US/China trade détente forces a continued reassessment of the outlook for Fed easing with markets paring back at least 10bpts of cuts by December.” “European bond markets are also showing losses (yield gains) but are failing to keep pace with…