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India’s foreign exchange demand is increasingly moving beyond major metropolitan centres, with Tier-2 and Tier-3 cities together accounting for 53 per cent of overall forex demand, according to Thomas Cook India’s Forex Report 2026. The report, based on Thomas Cook India’s transaction data between April 2025 and March 2026 across leisure travel, education and corporate travel, showed that Tier-1 cities, including metros, accounted for 47 per cent of forex demand.Tier-2 cities contributed 41 per cent, while Tier-3 cities accounted for another 12 per cent.”Emerging India is driving the next phase of forex growth, with Tier 2 and Tier 3 cities…
The dollar fell on Friday after data showed U.S. retail sales unexpectedly declined in July, helping send the euro and sterling to multi-month highs, as traders weighed Federal Reserve policy.Retail sales dropped 0.6% last month after an unrevised 0.2% gain in June. Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, edging up 0.1%.”We are clearly having signs of poor consumption,” said Juan Perez, director of trading at Monex USA in Washington. “This evidence is clearly showing that there is an economic slowdown in the United States.”Softer-than-expected consumer and producer price…
Silver price advanced by some 0.39% on Friday, capped by rising US yields, even though US data was softer than expected. XAG/USD trades at $64.70, after bouncing off daily lows of $63.51.XAG/USD Price Forecast: Technical OutlookThe white metal remains downward biased despite signs of bottoming around the $54.70 area, near the yearly low of $54.77. Momentum is bullish in the short term, as indicated by the Relative Strength Index (RSI), but from a market structure perspective, it remains bearish.For a bullish continuation, the first resistance for XAG/USD would be the 100-day Simple Moving Average (SMA) at $68.76. Above, the first…
The Australian Dollar advanced on Friday after US Retail Sales disappointed investors, increasing speculation that the Federal Reserve might not raise rates, as the economy showed tentative signs of weakness. The AUD/USD trades at 0.7083, up 0.34%AUD/USD Price Forecast: Technical outlookThe daily chart shows the AUD/USD is bullish, but buyers remain unable to decisively crack the January 29 high of 0.7094, which could open the door for further upside. Momentum shifted bullish since mid-July, as depicted in the Relative Strength Index (RSI).From a market structure perspective, the pair has not shifted bullish until buyers regain the June 1 peak at…
US Treasury yields advanced on Friday during the North American session after reversing their course following the release of US Retail Sales data, which disappointed investors. Meanwhile, the lack of news from the Middle East kept Oill prices higher, amid fears of a resumption of hostilities.US yields climb as Oil stays bid, while weak sales pressure DollarThe US 10-year Treasury yield edged up by over 4 basis points to 4.692% amid a rise in Oil prices. West Texas Intermediate (WTI), the US crude benchmark, is up 1.50% at $82.39.US Retail Sales disappointed investors, contracting -0.6% MoM, below forecasts of 0.1%…
USD/MXN refreshed 24-month lows below 17.00 on Friday, but it has recovered some ground, with buyers stepping in and reclaiming the 17.00 level. Data from the United States (US) weighed on the Greenback, as consumer sentiment and Retail Sales deteriorated. The pair trades at 17.02, after bouncing off daily lows of 16.97.USD/MXN holds near two-year lows as traders price out Fed hikesUS data proved benign on the inflation front, with consumer and producer prices edging lower. The Nonfarm Payrolls reading on August 7 and jobless claims on Thursday paint a picture of ‘some’ softening, but give Federal Reserve officials no…
Societe Generale analysts highlight CNY’s firm trend, with the currency advancing to 6.7424, its strongest level since February 2023, on Dollar weakness and lower US yields. The PBoC reiterates an accommodative stance and targeted support while avoiding explicit rate or RRR cut signals, as 10-year CGB yields fall below 1.70%.Policy support underpins currency strength”CNY maintains steady appreciation path: The CNY advanced to 6.7424 today, its strongest level since February 2023, supported by broad-based dollar weakness and lower US yields.””In its latest quarterly monetary policy implementation report, the PBoC reiterated its commitment to maintaining an appropriately accommodative policy stance and deploying…
The US Dollar Index (DXY) extended its slide on Friday, holding below 100.00 at fresh lows after a fourth straight soft US data print. The preliminary Michigan Consumer Sentiment survey fell to 51 in August from 55.2, well short of forecasts, capping a week that also brought cooler inflation and a weak Retail Sales report. As a result, bets on a September Federal Reserve (Fed) rate hike have faded further. The coming week hands the Dollar no top-tier data of its own. Instead, Wednesday’s Federal Open Market Committee (FOMC) Minutes from the July meeting take center stage, offering the detail…
Commerzbank notes that the Kospi has rebounded 29.5% from its 30 July low, supported by strong tech earnings and improved sentiment toward semiconductor and memory chipmakers. They note USD/KRW has retreated nearly 8.9% from its July high as exporters’ repatriation and foreign portfolio inflows bolster the Korean Won. Despite a modest 0.3% rise to 1,421 on a stronger Dollar, KRW is the second-strongest Asian currency this year, up 1.5% versus USD and outperforming the regional ex-Japan average of -2.1%. Further volatility moderation in equities may offer near-term KRW support.USD/KRW retreats from July peak”The South Korean equity benchmark Kospi rose 3.6%…
The EUR/USD pair registers gains of over 0.32% on Friday as traders face key resistance at the 100-day Simple Moving Average (SMA) at 1.1567, as bulls eye the 1.1600 psychological figure. At the time of writing, the pair trades at 1.1564 after bouncing off daily lows of 1.1526.EUR/USD Price Forecast: Technical OutlookThe EUR/USD market structure suggests that the downtrend remains intact. The successive lower highs and lower lows have been respected, but since July 30, when the pair reclaimed the 1.1500 area, the risk of a bullish reversal has increased.Although the pair topped around 1.1550-60, the Relative Strength Index (RSI)…