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The US Dollar Index turns positive amid Fed’s cautiousness. Geopolitical concerns keep the gains capped. US-China trade talks pose a temporary optimism. The US Dollar Index (DXY) hovers around the 100.00 area during the early European session on Thursday. The recent upside stems from the Fed’s cautious stance and wait-and-watch approach. Moreover, market participants are looking for coming up US-China trade negotiations. -Are you looking for forex robots? Check our detailed guide-  The Fed’s post-meeting statement on Wednesday admitted inflation and unemployment risk as Jerome Powell cautioned about tariffs disrupting global trade. According to CME FedWatch Tool, markets are pricing…

NZD/USD may initially find support near the 50-day EMA at 0.5830.The 14-day RSI remaining above the 50 level suggests a sustained bullish bias.A breakout above the nine-day EMA at 0.5946 could pave the way for the pair to re-enter the ascending channel.The NZD/USD pair extends losses for the second successive session, trading around 0.5930 during European hours on Thursday. The technical analysis of the daily chart indicates a weakening bullish bias, as the pair trades further below the ascending channel pattern.Additionally, the NZD/SUD pair is positioned below the nine-day Exponential Moving Average (EMA), suggesting the short-term price momentum is weaker.…

The rupee gained 23 paise to 84.54 against the US dollar in early trade on Thursday, as the US Federal Reserve kept the federal fund rate steady.Forex traders said sustained foreign fund inflows and overall dollar weakness supported the local unit but geopolitical tensions continue to dent investor sentiments.At the interbank foreign exchange, the domestic unit opened at 84.61 and fell to an early low of 84.65 and a high of 84.54 against the greenback, registering a gain of 23 paise over its previous close.On Wednesday, the rupee depreciated 42 paise to close at 84.77 against the US dollar, as…

Gold price regains positive traction as trade-related uncertainties boost safe-haven assets.The USD struggles to attract any follow-through buying despite the Fed’s hawkish pause.Bulls seem unaffected by a positive risk tone, which tends to undermine the XAU/USD pair.Gold price (XAU/USD) sticks to its strong intraday gains through the Asian session on Thursday and currently trades around the $3,400 round figure mark. US President Donald Trump tempered hopes for a quick resolution to the US-China trade war by saying that he is in no real hurry to sign any deals. This, along with persistent geopolitical risks stemming from the Russia-Ukraine war, conflicts…

EUR/USD remained stuck to the 1.1300 region on Wednesday.The Fed’s rate hold was broadly expected, but an overly-cautious Powell caught markets by surprise.Investors are still holding out hope for a pivot toward rate cuts by July.EUR/USD stuck to its middling ways on Wednesday, remaining entrenched near the 1.1300 handle after the Federal Reserve’s (Fed) latest rate call went about as well as traders expected, albeit with a fresh batch of “wait-and-see” warnings from Fed Chair Jerome Powell. The economic calendar on the European side remains strictly mid-tier this week, leaving Fiber traders to sit and chew on a Fed that…

The Federal Reserve is expected to leave the policy rate unchanged for the third consecutive meeting.Fed Chairman Powell will speak on the policy outlook in a press conference.The US Dollar could stay resilient against its rivals if the Fed keeps its focus on the inflation outlook.The United States (US) Federal Reserve (Fed) will announce monetary policy decisions following the May policy meeting on Wednesday. Market participants widely anticipate the US central bank will leave policy settings unchanged for the third consecutive meeting, after cutting the interest rate by 25 basis points (bps) to the 4.25%-4.5% range in December.The CME FedWatch…

Rupee sheds 39 paise against dollar India’ strike against terror infrastructure in Pakistan and the fall in equity markets in early trading dragged the rupee down on Wednesday to its biggest single-day drop in a month even as the dollar gained ground against global currencies.The rupee, which opened about 14 paise weaker on Wednesday, closed at 84.8250 per US dollar, down about 39 paise vs previous close of 84.44.Indian defence forces launched missile strikes early Wednesday on nine terror targets in Pakistan to avenge the killing of 26 tourists in Pahalgam (Kashmir) by terrorists sponsored by the latter. This dampened…

Gold sees losses getting contained to only 1%  with China and the US top officials set to meet in Switzerland this weekend.Strikes and counterstrikes between India and Pakistan took place in early Wednesday.Gold remain poised for upside with tail risks plentiful on these China-US talks possibly breaking down.  Gold (XAU/USD) remains in steady trading on Wednesday around $3,390 at the time of writing and for most part in the European session, ahead of the Federal Reserve (Fed) rate decision and after statements from both China and the United States (US) confirmed that trade talks will kick off this weekend. US…

At the interbank foreign exchange, rupee opened at 84.65 and moved between an intra-day high of 84.47 and a low of 84.93 against the greenback The rupee depreciated 45 paise to close at 84.80 (provisional) against the US dollar on Wednesday, as heightened cross-border tensions following India’s military strikes against terrorist camps in Pakistan and Pakistan-Occupied Kashmir weighed on the domestic currency.Indian armed forces on early Wednesday carried out missile strikes on nine terror targets in Pakistan and Pakistan-Occupied Kashmir including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba’s base in Muridke.The military strikes were conducted under Operation Sindoor two weeks…

The USD/CAD forecast points to strength in the oil markets, which is boosting the loonie. China and the US will hold trade talks on Saturday. The Fed will likely keep rates on hold. The USD/CAD forecast points to strength in the oil markets due to hopes of a trade deal between China and the US. As a result, the commodity-sensitive Canadian dollar gained. However, the move was subdued as market participants looked forward to the FOMC policy meeting. -Are you looking for forex robots? Check our detailed guide-  Oil prices rose Wednesday after reports that China and the US will…