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The Japanese Yen attracts buyers for the second straight day amid reviving safe-haven demand. A modest USD downtick drags USD/JPY further away from a multi-week high touched on Friday. The BoJ’s dovish pause might cap JPY gains as the focus shifts to the FOMC meeting this week. The Japanese Yen (JPY) remains on the front foot against a broadly weaker US Dollar (USD) for the second consecutive day and drags the USD/JPY pair back closer to the 144.00 mark during the Asian session on Monday. Heightened economic uncertainty in the wake of US President Donald Trump’s erratic trade policies, to…

The Organization of the Petroleum Exporting Countries and allies (OPEC+) is set to further speed up oil output hikes. Citing five sources, Reuters reported that this could bring back to the market as much as 2.2 million barrels per day by November. The June increase from the eight will take the total combined hikes for April, May and June to 960,000 bpd, representing a 44% unwinding of the 2.2 million bpd of various cuts agreed on since 2022, according to Reuters calculations.The decision follows a surprise move in April by agreeing to a bigger-than-expected output hike for May despite weak prices and slowing demand.Market reactionAt…

Apex exporters’ body FIEO has urged the RBI to publicly share information on banks offering the rupee trade settlement system (SRVA) as lack of awareness is limiting its use. The system simplifies trade and saves foreign exchange, but many exporters do not know where to access it, Federation of Indian Export Organisations (FIEO) President S C Ralhan told PTI. In 2023, the Reserve Bank permitted banks operating in the country to open Special Rupee Vostro Accounts (SRVAs) of partner banks from specified countries as part of efforts to promote bilateral trade in local currencies. This enables exporters and importers to…

Representative image | Photo Credit: suman bhaumik Foreign exchange reserves (Forex) rose by $1.983 billion to $688.129 billion in the week that ended on April 25, extending gains for the eighth straight week, official data released by the Reserve Bank of India (RBI) this week showed.Despite eight consecutive rises in the forex, the reserve remained below the all time high of $704.885 billion which was achieved in the last September previous year.The RBI data shows that foreign currency assets (FCAs) witnessed an uptick of $2.168 billion reaching at $580.663 billion.The FCAs are the largest components of the foreign exchange reserves…

In April 2025, the rupee appreciated by 1.1%, following a stronger gain of 2.4% in March 2025 The Indian rupee is likely to trade with an appreciating bias in the near term, supported by a mix of favourable domestic and global factors, according to a recent report by Bank of Baroda.The report expects the rupee to move in the range of 84-85 per US dollar in the coming days.It said, “We expect INR to trade with an appreciating bias in the near-term in the range of 84-85/USD. However, escalation in US-China trade relations poses a significant risk to our view.”In…

AUD/NZD was seen around the upper end of its daily range on Friday.The pair maintains a bullish outlook supported by short-term trend signals.Technicals show mixed bias across indicators, with resistance seen above and long-term averages still pressuring.AUD/NZD is displaying upward momentum ahead on Friday’s session, trading near the top of its daily range and not far from the 1.0800 zone. The pair has gained on the day, extending its bullish push while short-term indicators strengthen this outlook. A buy signal from the MACD and support from short-term moving averages help confirm the bias, although some indicators like the RSI and…

The pair trades near 145.00, correcting from recent highs amid renewed Dollar softness.NFP beats expectations at 177K, but weak ISM and GDP data revive Fed rate cut bets.Bearish bias persists; key resistance at 145.52 and support at 144.42 with neutral RSI and MACD.USD/JPY pulls back toward the 145.00 area on Friday after extending gains earlier in the week. The pair loses momentum in tandem with the US Dollar, which fell below 99.50 following a firm rejection at the 100.00 level. This decline comes as markets digest mixed macro data and renewed trade headlines, including China’s signal to open tariff talks…

USD/MXN flats near 19.58 as soft Mexican manufacturing and Banxico’s dovish tilt weigh against strong US jobs data.Mexico’s dismal data suggests the economic slowdown might continue as PMI hits three-year low, business confidence deteriorates.Banxico is seen cutting rates in May, widening policy gap with Fed and pressuring Peso outlook.The Mexican Peso (MXN) remained firm against the US Dollar (USD), though it is poised to finish the week with losses of over 0.40% after economic data revealed in Mexico painted a gloomy economic outlook, despite the fact that the economy surprisingly grew in the first quarter of 2025. Also, solid US…

EUR/JPY trades near the 164.00 zone after a modest pullback ahead of the Asian session.Overall bias stays bullish, with trend indicators aligned to the upside.Support levels hold below while short-term indicators remain neutral.The EUR/JPY pair edged slightly lower on Friday but continues to trade near the 164.00 zone as the market transitions into the Asian session. While price action eased from recent highs, the pair remains comfortably within the mid-range of the day’s movement. The pullback hasn’t altered the broader bullish outlook, which is supported by rising trend-based indicators across multiple timeframes.Technically, EUR/JPY maintains its bullish stance. The Moving Average…

XAU/USD slumps, set to lose over 2.5% weekly as traders scale back Fed rate cut bets and risk appetite improves.April NFP beats estimates; unemployment steady at 4.2%, curbing aggressive Fed easing expectations.China says the US is open to trade talks, boosting sentiment and pressuring Gold.Gold (XAU/USD) price edged down over 0.35% on Friday, poised to end the week with losses of over 2.50%. An improvement in risk appetite due to easing trade tensions alongside a strong labor market report in the United States (US) prompted investors to book profits ahead of the weekend. At the time of writing, XAU/USD trades…