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The rupee appreciated 38 paise to close at 85.03 (provisional) against the US dollar on Monday, supported by sustained foreign fund inflows, easing crude oil prices and a bullish trend in domestic equities. Forex traders said strong domestic fundamentals, such as rising forex reserves also boosted investor sentiments. At the interbank foreign exchange, the domestic unit opened at 85.29 and moved between the intra-day high of 84.96 and the low of 85.42 against the greenback. The unit ended the session at 85.03 (provisional), registering a gain of 38 paise over its previous closing level. On Friday, the rupee settled lower…

The Indian rupee logged its best day in more than two weeks on Monday, aided by likely portfolio inflows into local equities while a key technical resistance near its year-to-date peak limited the currency’s rally. The rupee touched a peak of 84.98 against the U.S. dollar before ending the session at 85.03, up nearly 0.5% on the day. Benchmark Indian equity indexes, the BSE Sensex and Nifty 50, rose about 1.2% each on the day, outperforming their regional peers alongside the rupee.A sizeable portion of the benchmarks’ gains came from oil-to-telecom conglomerate Reliance Industries, which jumped more than 5% and…

The USD/CAD outlook reflects caution among traders ahead of Canada’s federal election. Sales in Canada decreased by 0.4% in February. The dollar held on to last week’s gains as traders awaited developments in the US-China trade war. The USD/CAD outlook reflects caution among traders ahead of Canada’s general election results. As a result, most have remained on the sidelines, keeping the pair in a tight range. Meanwhile, the dollar was steady as market participants hoped for a trade deal between China and the US.  Canada’s general election is on Monday. The outcome will determine the country’s future, especially its trade…

The rupee appreciated 12 paise to 85.29 against the US dollar in early trade on Monday, supported by strong domestic fundamentals, such as rising forex reserves and healthy capital inflows. Forex traders said a steady rise in reserves enhances India’s import cover, providing a crucial buffer against external shocks and lending stability to the rupee. However, the rupee could face pressure amid any escalation in tensions between India and Pakistan as geopolitical uncertainties like these tend to drive investors toward safer assets, causing outflows from emerging markets and weakening local currencies like the rupee.At the interbank foreign exchange, the domestic…

Indian Rupee steadies in Monday’s Asian session. Concerns over geopolitical tensions between India and Pakistan weigh on the Indian Rupee. Rising foreign inflows and lower crude oil prices might help limit the INR’s losses. The Indian Rupee (INR) holds steady on Monday. Rising tension with Pakistan could trigger a risk-off sentiment among traders, which might drag the Indian currency lower. The ceasefire violation along the Line of Control (LoC) came days after the Pahalgam terror attack, which killed 26 people, mostly tourists, in the Baisaran valley near Pahalgam, Jammu and Kashmir. On the other hand, Foreign Portfolio Investors (FPIs) continued to buy Indian equities…

The lack of major news over the weekend may offer the rupee slight relief at the open | Photo Credit: REUTERS The Indian rupee looked set for a muted opening on Monday, with traders scanning headlines around the Kashmir attack and the movement in local equities for direction.The 1-month non-deliverable forward indicated that the rupee will open flat-to-slightly higher from its previous close of 85.45.The local unit saw sharp two-way moves on Friday, whipsawing between 85.08 and 85.66.After an initial rally toward the 85 level, the currency reversed course, pressured by a selloff in local equities and bonds on fears…

USD/CAD trades near the 1.3900 zone in a tight range ahead of the weekendContradictory US-China tariff headlines and resilient oil prices shape sentimentResistance is seen at 1.3893 and 1.3986, with support at 1.3855The USD/CAD pair holds steady around the 1.3900 zone on Friday as markets weigh fresh US-China trade headlines and stronger oil prices against a firmer Greenback. The US Dollar Index (DXY) is trading higher near 99.60, supported by comments from US President Donald Trump suggesting talks with China are ongoing. However, these claims were quickly disputed by the Chinese Foreign Ministry, which said no negotiations were underway, creating…

EUR/GBP trades near the 0.8500 zone after Friday’s European session.Despite a slight intraday pullback, broader signals maintain a bullish tone.Resistance seen near 0.8550; support clustered around the 0.8530–0.8520 area.The EUR/GBP pair was seen trading near the 0.8500 mark during Friday’s session, edging lower intraday yet holding within the mid-range of 0.8511 to 0.8548. Investors appear cautious amid a light macroeconomic backdrop, with the pair moving in sync with subtle shifts in broader market sentiment.Technically, the pair continues to exhibit a bullish structure despite the minor pullback. The 20, 100, and 200-day simple moving averages — currently at 0.8533, 0.8377, and…

EURUSD trades near the 1.1400 area, slipping slightly after the European session.The bullish bias persists despite mixed short-term momentum signals.Resistance seen around 1.1378; support zones near 1.1335 and 1.1215.The EURUSD pair was seen hovering near the 1.1400 region on Friday after easing slightly in the aftermath of the European session. The pair is consolidating within a narrow range between 1.1315 and 1.1391, reflecting a pause in bullish momentum while still holding ground near recent highs.Technically, the broader picture remains constructive. The 20-day, 100-day, and 200-day simple moving averages all point higher, supporting the ongoing bullish trend. Shorter-term indicators like the…

UK Retail Sales surprise to the upside but fail to lift Sterling.US Consumer Sentiment drops sharply; inflation expectations surge to multi-year highs.Markets digest mixed trade signals as China mulls tariff exemptions on US goods.The Pound Sterling registers losses against the strong US Dollar, yet it remains above 1.3300.  A strong UK Retail Sales report failed to underpin Cable, which registers losses of 0.20% as the GBP/USD trades at 1.3311.GBP/USD holds above 1.3300 amid weak US sentiment, hot inflation expectations, and ongoing tariff dramaThe financial markets’ narrative hasn’t changed, with traders focused on US President Donald Trump’s trade policies and China’s…