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USD/IDR gains ground after registering minor losses in the previous day, trading around 18,000 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) holds its position despite a disappointing set of domestic labor data released on Thursday.US labor market forces Wall Street to aggressively rethink its interest rate outlook. The primary catalyst for this shift was the June Nonfarm Payrolls (NFP) report released on Thursday. The US economy added just 57,000 jobs last month, completely missing the market consensus of 110,000. While the headline unemployment rate managed an unexpected tick downward to 4.2% from May’s…
The U.S. dollar was on track for the biggest weekly drop in nearly three months on Friday, after a tepid June jobs report pushed back markets expectations for Fed rate hikes, providing some relief for the embattled yen. Softness in the greenback continued in early Asian trade, with the euro hovering near its two-week peak at $1.1442. Sterling was also firm at $1.3361 and on track for a 1.2% weekly gain, its best in nearly three months. The risk-sensitive Australian dollar fetched $0.6935 , set to snap a four-week losing streak. New Zealand’s kiwi traded at $0.5702, up 1.2% for…
Mumbai: The Indian rupee closed at 95.39 on Thursday, modestly weaker from its previous close, despite falling oil prices and intervention from the central bank. The rupee had previously closed at 95.24 per dollar.The currency came under pressure due to dollar demand from foreign banks, oil companies and foreign investor outflows from equities.The rupee traded 95.40 and 94.92 on Thursday, with RBI intervention largely in the first half of the day, along with some dollar sales in the offshore non deliverable forwards market before domestic markets opened, traders said. Brent crude oil prices were trading at $70 per barrel. The…
United Overseas Bank’s (UOB) Quek Ser Leang reports USD/CNH is consolidating after a prior decline to 6.7865, with prices oscillating between 6.7911 and 6.8025 and closing at 6.7948. He expects intraday action to remain confined to 6.7860–6.7990. Over 1–3 weeks, recent Dollar strength is seen as having ended, with the pair likely to trade between 6.7750 and 6.8080, while medium-term recovery requires a break above the 21‑week EMA at 6.8430.Off highs and stuck in a band”24-HOUR VIEW: Two days ago, USD dropped to 6.7865 and then rebounded. When it was at 6.7920 yesterday, we highlighted that “the rebound from oversold…
ING’s Carsten Brzeski analyses a new German government reform package focused on cutting red tape, increasing labour market flexibility, and capping healthcare and pension costs to restore competitiveness. He notes that while the measures will not turn Germany’s stagnating economy into a booming one overnight, they can create a framework for future growth and support a more optimistic German GDP outlook.Reforms aim to boost competitiveness”Germany’s World Cup campaign may have come to an abrupt end, but the country’s reform drive is gathering momentum. In a bid to reverse the rather uncomfortable narrative, the government has just unveiled a sweeping reform…
The Euro (EUR) accelerated its decline against a strong Japanese Yen (JPY), which has rallied across the board on Thursday, without any clear reason to explain the move. The EUR/JPY pair has found support at the 183.75 area, after a knee-jerk reaction from Tuesday’s highs at 185.86, with momentum indicators on intraday charts showing strong bearish momentum.The Yen saw a sudden spike during Thursday’s early European session, which raised speculation that Japanese authorities stepped in to support the JPY, which had fallen to 40-year lows against the US Dollar earlier this week. Yen’s unexpected recovery has put investors on edge,…
The Indian rupee declined for the fourth consecutive session against the dollar on Thursday as market flows related to arbitrage trades and merchant payments pinched the currency despite weakness in the dollar and likely market intervention.The rupee rose to a peak of 94.9375 in early trading, helped by dollar sales from state-run banks, likely on behalf of the Reserve Bank of India, but retreated swiftly as dollar demand picked up through the session.The currency ended at 95.3925 against the dollar, down 0.1% from its previous close. It has fallen about 1% in the last four sessions.Traders said that although state-run…
The Reserve Bank of India’s (RBI) recent measures to attract foreign currency inflows are prompting banks to sweeten returns on Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits, with lenders rolling out higher interest rates to tap the Non-Resident Indian (NRI) segment.Joining the race, Ujjivan Small Finance Bank has increased the interest rate on USD FCNR(B) deposits for the 3-5 year tenure to 7.50% per annum, positioning itself among the highest-paying banks in the segment. Meanwhile, DBS Bank India has revised its rates to offer up to 5.6% per annum on USD FCNR(B) deposits for the same tenure, effective July 1, 2026.The…
The Euro (EUR) is down almost 0.5% to near 184.00 against the Japanese Yen (JPY) during the European trading session on Thursday. The EUR/JPY pair slumps as the Japanese Yen (JPY) delivers a sudden strong upside move, which appears to be the outcome of Japan’s intervention. However, there has been no official confirmation yet. Japanese Yen Price Today The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Australian Dollar. USDEURGBPJPYCADAUDNZDCHFUSD-0.23%-0.43%-0.65%-0.10%0.02%-0.14%-0.28%EUR0.23%-0.19%-0.42%0.12%0.24%0.12%-0.05%GBP0.43%0.19%-0.22%0.30%0.44%0.31%0.15%JPY0.65%0.42%0.22%0.54%0.67%0.50%0.36%CAD0.10%-0.12%-0.30%-0.54%0.12%-0.01%-0.18%AUD-0.02%-0.24%-0.44%-0.67%-0.12%-0.13%-0.32%NZD0.14%-0.12%-0.31%-0.50%0.01%0.13%-0.17%CHF0.28%0.05%-0.15%-0.36%0.18%0.32%0.17% The heat map shows percentage changes of major currencies against each other. The base currency is…
The rupee appreciated 26 paise to 94.90 against US dollar in early trade on Thursday, supported by easing crude oil prices.Forex traders said the rupee opened on a positive note as crude oil prices have fallen back to levels seen before the West Asia conflict. Even global risk sentiment has stabilised compared to the panic witnessed a few weeks ago.Foreign investors poured nearly USD 5.3 billion into Indian bond markets during June, marking the first month of positive inflows after three consecutive months of outflows, they said.At the interbank foreign exchange market, the rupee opened at 94.95, then touched 94.90…