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EUR/USD rose on Tuesday, but remains capped by 1.1300.Despite a near-term recovery, the Euro remains down from recent highs against the Greenback.US PMI figures will be the key data release this week.EUR/USD caught a bounce for a second day in a row on Tuesday, bolstering the pair back toward the 1.1300 handle. Despite a near-term rise in bullish momentum bolstering the Fiber, EUR/USD remains well back from recent multi-year highs near 1.1575. The pair has found a firm technical floor from key moving averages, and overall market sentiment remains hopeful that traders will be able to keep finding reasons to…

The US Dollar Index dips again to possibly test the 100.00 marker.Traders are on the lookout for possible more wait-and-see stance from upcoming Fed members. The US Dollar Index stable for now, though a revisiting of 2022 lows could become possible.The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading lower again after investors share their concerns with the reservations Moody’s made during its US credit downgrade. A Deutsche Bank poll found 80% of investors agree the U.S. is on an unsustainable debt path, echoing Moody’s recent statements. Over half expect…

Euro (EUR) is entering Tuesday’s NA session largely unchanged vs. the USD while trading with modest support over the past week or so, ignoring continued dovish messaging from key policymakers at the ECB, Scotiabank’s Chief FX Strategist Shaun Osborne notes. No momentum in either direction”Governing Council member Knot appears to be leaning toward a cut at the next meeting on June 5. The rates market is pricing nearly one full cut for the meeting and more than two cuts by the end of the year. For EUR/USD, the outlook for relative central bank policy is critical and medium-term EUR gains…

The rupee is expected to remain under pressure but may find support at lower levels. | Photo Credit: iStockphoto The rupee depreciated 21 paise to close at 85.63 (provisional) against the US dollar on Tuesday, on weak domestic markets and a bounce back in US treasury yields.Forex traders said the recent surge in the US 10-year yield reflects mounting concerns over fiscal and monetary policies, driving borrowing costs higher. Foreign fund outflows and positive crude oil prices also weighed on the rupee. However, the weak US dollar index cushioned the downside, they said. At the interbank foreign exchange, the domestic…

The Indian rupee weakened on Tuesday as dollar bids from foreign banks, likely on behalf of custodial clients, and a softer Chinese yuan outweighed positive cues from broad weakness in the greenback. The rupee closed at 85.6350 against the U.S. dollar, down about 0.3% on the day. Asian currencies were mixed on the day while the offshore Chinese yuan dipped lower after China cut key benchmark lending rates and corporate seasonal demand for dollars remained high.A fall in local equities also weighed on the rupee, with traders pointing to dollar demand from foreign banks, likely spurred by mild outflows from…

The USD/CAD price analysis shows strength in the Canadian dollar. Economists are predicting a 0.1% decrease in Canada’s inflation. Market participants are watching fiscal developments in the US. The USD/CAD price analysis shows strength in the Canadian dollar ahead of crucial inflation figures from Canada. Meanwhile, the dollar remained fragile after a credit rating downgrade for the US government. At the same time, market participants are on edge ahead of a vote on Trump’s tax cuts bill. –Are you interested in learning more about buying NFT tokens? Check our detailed guide- The loonie was strong on Tuesday as all eyes…

The Canadian inflation is expected to have lost further momentum in April.The headline Consumer Price Index is seen rising 1.6% from a year earlier.The Canadian Dollar seems to have moved into a consolidative phase.All eyes will be on Statistics Canada this Tuesday as it releases the April Consumer Price Index (CPI), a key inflation gauge that the Bank of Canada (BoC) closely tracks when setting interest rates.Headline inflation is expected to have eased sharply, with annual CPI forecast to fall 1.6% from 2.3% in March. On a monthly basis, however, inflation is projected to have picked up slightly, rising 0.5%…

The rupee depreciated 13 paise to 85.55 against the American currency in early trade on Tuesday, tracking a muted trend in domestic equities and foreign fund outflows.Forex traders said the recent surge in the US 10-year yield reflects mounting concerns over fiscal and monetary policies, driving borrowing costs higher and this has pushed the Dollar Index lower. Moreover, US Treasury Secretary Scott Bessent recently warned of potential sharp tariff increases on key US trading partners. Such a move could rattle markets, traders said. At the interbank foreign exchange, the domestic unit opened at 85.47 and fell to 85.55 against the…

The Reserve Bank of Australia (RBA) board members decided to lower the Official Cash Rate (OCR) by 25 basis points (bps) to 3.85% from 4.1%, following the conclusion of its May monetary policy meeting.The decision was widely anticipated.Summary of the RBA monetary policy statementEscaltion of global trade conflict a key downside risk to economy.Global growth outlook downgraded, uncertainty has increased due to us tariff policies.Trims core domestic inflation forecasts, unemployment seen slightly higher.Lower inflation, higher unemployment forecasts based on market assumption of total 85 bps rate cuts.Swift easing in trade tensions could see faster global growth, less rate cuts domestically.Market services…

Brazil’s central bank does not see any realistic prospect of emerging nations in the BRICS group creating markets large enough to topple the U.S. dollar’s dominance within the next 10 years, monetary policy director Nilton David said on Monday.There is not a meaningful stock of BRICS-denominated assets that could offset the dollar at the moment, David told a central bank webcast. “I don’t think that will change over the coming decade,” he added.The director acknowledged that alternative settlement tools could gain traction and help boost bilateral trade deals, but nowhere near enough to dislodge the dollar in any visible horizon.The…