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NZD/USD trades around 0.5980 on Wednesday at the time of writing, up 0.27% on the day and extending its rebound for a second consecutive day. The pair benefits from a weaker US Dollar (USD) after US President Donald Trump delivered his State of the Union address before Congress. In his speech, Donald Trump said he had engineered a “turnaround for the ages” in the US economy, highlighting easing inflation and solid growth. He also stressed that, in his view, tariffs were a key driver behind this improvement. The president added that he could impose higher duties on countries that “play…
HSBC Global Research views USD/CAD as largely driven by the broader Dollar trend, with the pair trading slightly below levels implied by rate spreads, reflecting Canadian Dollar resilience. Elevated Oil prices linked to Middle East tensions are supportive. With tariff uncertainty easing and a potentially less aggressive US trade stance into midterms, a sharp USD/CAD rise is seen as unlikely.Loonie resilient as oil and policy help”USD-CAD is primarily driven by the broad USD trend and is currently trading just below levels implied by interest rate differentials, reflecting CAD resilience.””Elevated oil prices, driven by Middle East tensions, continue to support the…
The Indian rupee ended nearly flat on Wednesday as dollar demand spurred by maturing contracts in the non-deliverable forwards market blunted positive impulses from modest inflows and gains in Asian peers.Despite expectations of elevated dollar demand related to NDF maturities this week, appetite to wager against the currency has also dulled due to expectations that the Reserve Bank of India will intervene to curb sharp falls.On the day, the rupee closed at 90.9475 against the dollar, nearly unchanged from its close of 90.95 in the previous session.State-run banks were intermittently spotted selling dollars above the 90.95 mark, a trader at…
The rupee stayed range-bound for the second consecutive day on Wednesday and settled 1 paisa lower at 90.96 (provisional) against the US dollar amid higher global crude oil prices and foreign fund outflows.A weaker greenback and positive sentiments in domestic equity markets prevented the rupee’s losses, according to forex traders.At the interbank foreign exchange, the rupee opened at 90.94 against the greenback and traded in a narrow range through the session before settling at 90.96 (provisional), down 1 paisa from its previous close.On Tuesday, the rupee settled 6 paise lower at 90.95 against the US dollar.”Rupee rose in early trades…
The Indian Rupee (INR) trades flat in the opening trade against the US Dollar (USD) on Wednesday. The USD/INR pair wobbles around 91.00 as the Indian Rupee trades with caution ahead of nuclear talks between the United States (US) and Iran on Thursday and the release of the domestic Q4 Gross Domestic Product (GDP) data on Friday.Investors will pay close attention to the outcome of the US-Iran nuclear talks, as it would have a significant impact on the oil price. Currencies from countries that rely heavily on imports of oil to fulfill their energy needs remain highly sensitive to the…
The rupee gained 6 paise to 90.89 against the US dollar in early trade on Wednesday aided by a weaker greenback and a strong opening in the domestic equity markets.However, a sharp rise in global crude oil prices and FII outflows prevented sharp gains in the local unit, forex traders said.At the interbank foreign exchange, the rupee opened at 90.94 against the greenback before rising to 90.89, registering a gain of 6 paise from its previous close.The rupee traded in a narrow range on Tuesday and settled 6 paise lower at 90.95 against the US dollar.”Dollar buying continued on Tuesday…
The EUR/USD pair regains positive traction during the Asian session on Wednesday and jumps to the 1.1800 neighborhood in the last hour, reversing the previous day’s modest losses. The intraday move up is sponsored by the emergence of fresh US Dollar (USD), which continues to be weighed down by persistent trade-related uncertainties.Following a Supreme Court verdict against his sweeping levies, US President Donald Trump announced a new tariffs framework and signaled that his trade agenda remains firmly intact. In his State of the Union Address, Trump said that the White House pivoted to temporary global tariffs of 10% for 150…
The EUR/USD pair edges lower to around 1.1775 during the early Asian session on Wednesday, pressured by a renewed US Dollar (USD) demand. Traders await the US President Donald Trump’s State of the Union address later on Wednesday for clarity on fiscal policies. Hawkish remarks from the Federal Reserve (Fed) officials provide some support to the Greenback and act as a headwind for the major pair. Boston Fed President Susan Collins said on Tuesday that it will be appropriate to hold in the current range for some time. Meanwhile, Richmond Fed President Thomas Barkin noted that monetary policy is “well-positioned” to address the…
DBS Group Research economists Radhika Rao and Chua Han Teng note that the US court ruling invalidates unilateral IEEPA tariffs on ASEAN-6, shifting them to MFN plus a 15% Section 122 levy until July 2026. Malaysia, Thailand, Vietnam and Indonesia see lower effective rates, while Singapore’s rises slightly but remains lowest. The bank keeps its regional economic projections unchanged.IEEPA reversal and Section 122 impact”Firstly, unilateral tariffs imposed by the US on the region under the IEEPA are likely to be deemed invalid.””These countries will now face their respective MFN rates plus a global 15% tariff under Section 122, which will…
West Texas Intermediate (WTI), futures on NYMEX, are down 0.3% to near $66.20 during the European trading session on Tuesday. The Oil price is slightly under pressure, but is still close to its over six-month high of $67.23.A higher US Dollar (USD) is expected to have weighed on the oil price. As of writing, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, is up 0.15% higher to near 97.85 ahead of the United States (US) markets openingThe oil price is broadly firm amid tensions between the US and Iran over Tehran’s nuclear plans. Washington…