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The Indian rupee strengthened modestly on Friday as the Reserve Bank of India’s steepest rate cut in five years boosted local equities, helping the South Asian currency eke out a gain even as the dollar firmed against major peers. The rupee closed at 85.6250 against the U.S. dollar, up from its close at 85.79 in the previous session. The rupee declined 0.2% on the week. The Reserve Bank of India (RBI) cut its key repo rate by 50 basis points on Friday and slashed the cash reserve ratio (CRR) for banks as low inflation gave policymakers room to focus on…

Gold price gains some positive traction following Thursday’s late pullback from a multi-week high.The US-China trade talks optimism holds back the XAU/USD bulls from placing aggressive bets.A modest USD uptick further contributes to capping the commodity ahead of the US NFP report.Gold price (XAU/USD) retreats slightly from the daily top and trades with a mild positive bias, above the $3,350 level during the early part of the European session on Friday. The US Dollar (USD) gains some positive traction and moves away from its lowest level since April 22 set on Thursday amid repositioning trades ahead of the crucial US…

The rupee pared initial losses and appreciated 13 paise in morning trade on Friday, after the Reserve Bank cut repo rate by a higher-than-expected 50 basis points to prop up growth. Forex traders said the latest RBI monetary policy has an all-round focus, it maintained growth momentum, by cutting rates by 50 bps, liquidity infusion by cutting CRR by 100 bps over the year and targeting inflation at 3.7 per cent in FY26. At the interbank foreign exchange, the domestic unit witnessed heavy volatility. It opened at 85.91, registering a fall of 12 paise over its previous close. But soon…

GBP/USD holds gains near 1.3616, the highest since February 2022.US Nonfarm Payrolls is expected to have added 130,000 jobs in May.GBP receives support as Trump granted temporary relief to UK exporters from steep 50% US tariffs on steel and aluminium.GBP/USD maintains its position near 1.3616, the highest since February 2022, which was recorded on June 5. At the time of writing, the pair is trading around 1.3570, with little moves ahead of labor market data from the United States (US).The US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is trading higher at…

GBP/USD tested above 1.3600 for the first time in almost four years.Pound Sterling gains march ahead unguarded as USD flows crumple.Markets sentiment is coiling ahead of key US NFP labor figures due on Friday.GBP/USD tested its highest bids in over three years on Thursday, briefly climbing above the 1.3600 handle in intraday trading for the first time in 40 months. Bullish momentum remains tepid, however, with investor sentiment getting hobbled by approaching US Nonfarm Payrolls (NFP) jobs data due on Friday, as well as a rapidly-accelerating blowout between US President Donald Trump and his (now former) right-hand hatchet man Elon…

Gold prices ease after US President Trump confirmed that he had a “very good call” with President Xi.Positive developments and renewed hopes for a de-escalation of trade tensions have resulted in a pullback in Gold prices.Gold prices remain above the $3,350 psychological level ahead of Friday’s important release of US Nonfarm Payrolls (NFP).Gold prices are holding firm on Thursday, supported by easing geopolitical tensions, dovish central bank signals and ongoing weakness in US labour market data, factors that continue to drive demand for safe-haven assets.After testing the key $3,400 psychological level during the European session, prices pulled back slightly but…

USD/INR trades near 85.80, snapping a two-day winning streak as the US Dollar weakens on soft US data.Indian equities rise; Sensex gains 444 points, adding to Rupee strength amid improved risk sentiment.RBI rate decision due Friday, with markets widely expecting a 25 bps cut to support growth.US ISM Services and ADP jobs data disappoint, boosting Fed rate cut bets for September.The Indian Rupee (INR) strengthens modestly against the US Dollar (USD) on Thursday, ending a two-day losing streak as the Greenback softened following Wednesday’s weaker-than-expected US economic data. At the time of writing, USD/INR is trading near 85.80, down from…

The rupee snapped its two-day losing streak and closed 7 paise higher at 85.80 (provisional) against the US dollar on Thursday, supported by positive domestic equities and a rise in Asian currencies. Forex traders said overnight softening of crude oil prices favoured the rupee. However, a strong US dollar index capped sharp gains. Besides, market participants are now keenly awaiting the outcome of the Reserve Bank of India’s (RBI’s) monetary policy meeting for further cues, they said. At the interbank foreign exchange, the domestic unit witnessed a volatile trading session — it opened at 85.86 and moved between a high…

The Indian rupee closed modestly stronger on Thursday, lifted by mild dollar inflows as well as positive cues from gains in most Asian peers, while traders awaited the Reserve Bank of India’s monetary policy decision on Friday. The rupee closed at 85.79 against the U.S. dollar, up from its close of 85.90 in the previous session. While the rupee was nearly flat in the first half of the session, it received a slight boost from foreign banks’ dollar sales in the latter half, likely on behalf of their custodial clients, a trader at a Mumbai-based bank said.Asian currencies were mostly…

The USD/CAD forecast shows a cautious Bank of Canada that has boosted the Canadian dollar.  Market participants are pricing a 45% chance of a BoC rate cut in July. Data revealed weaker-than-expected US private employment. The USD/CAD forecast shows a cautious Bank of Canada that has boosted the Canadian dollar. At the same time, downbeat data from the US weighed on the dollar, allowing most of its peers to climb.  –Are you interested to learn more about MT5 brokers? Check our detailed guide- The Bank of Canada kept rates unchanged as expected on Wednesday. It was the second pause as…