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Commerzbank notes that the Bank of Thailand (BoT) kept its policy rate at 1.0% and signalled a cautious stance, prioritizing growth risks over inflation. USD/THB has risen for five consecutive sessions, up 0.9% to 33.43. Officials attribute Thai Baht (THB) weakness mainly to broad US Dollar (USD) strength and equity outflows, while stressing readiness to smooth excessive FX volatility if needed.Baht under pressure as BoT watches”Bank of Thailand (BoT) unanimously voted to keep the policy rate unchanged at 1.0% for the second consecutive meeting, matching market expectations. The Committee assessed that the current policy stance remains accommodative to support the…
The rupee rose 31 paise to 94.24 against the US dollar in early trade on Thursday as global crude oil prices continued to decline and went below levels seen before the start of the West Asia conflict.A weaker greenback and positive sentiments in the domestic equity market further supported the local unit while heavy FII outflows prevented a sharper rise, forex traders said.At the interbank foreign exchange market, the rupee opened at 94.30 against the US dollar and strengthened further to 94.24, up 31 paise from its previous close.The rupee appreciated 21 paise to settle at 94.55 against the US…
Gold (XAU/USD) meets with a fresh supply during the Asian session on Thursday and slides back to the lowest level since November 2025, set the previous day. The commodity retains bearish bias for the third straight day as traders look forward to the release of the US Personal Consumption Expenditures (PCE) Price Index. The crucial data will dictate the Federal Reserve’s (Fed) policy path and directly affect the non-yielding bullion.In the meantime, inflation fears have receded recently as Crude Oil prices have fallen significantly following the reopening of the Strait of Hormuz. Furthermore, a temporary 60-day sanctions waiver that authorizes…
Mumbai: The Indian rupee was marginally stronger on Wednesday and closed at 94.66, versus its previous close of 94.73 per dollar. The currency however reached an intraday low of 94.91 in early hours of the day, where dollar sales by state run banks, likely on behalf of the RBI, helped contain further losses, traders said.The weakness in the currency came in as the dollar index strengthened due to increasing expectations that the US Federal Reserve may raise interest rates later this year. The DXY was at 101.6 on Wednesday, its strongest level in 13 months. Source
Gold price (XAU/USD) tumbles to around $3,995 during the early Asian session on Thursday. The precious metal extends the decline to below the $4,000 psychological level for the first time since November 2025 on the prospect of higher interest rates and a stronger US Dollar (USD). All eyes will be on the US May Personal Consumption Expenditures (PCE) data, which will be published on Thursday. Traders have ramped up bets on US interest rate hikes this year after the US Federal Reserve (Fed) delivered hawkish messages at its June policy meeting and as fears of inflationary pressures stemming from the Iran war persist. It’s worth…
The Swiss Franc (CHF) slides to its weakest level in more than ten months on Wednesday as hawkish Federal Reserve (Fed) outlook boosts the US Dollar (USD). At the time of writing, USD/CHF trades around 0.8126, extending its gains for a sixth consecutive day.The US Dollar continues to edge higher, climbing to its highest level since May 2025. Renewed demand for the Greenback comes after the Federal Reserve delivered a hawkish hold at last week’s policy meeting, where a majority of policymakers signaled that a rate hike later this year may be needed to contain inflationary pressure driven by higher…
ING’s Commodities Strategist Ewa Manthey notes that Gold has sold off sharply after record highs, pressured by higher Treasury yields, a stronger Dollar and weaker ETF demand. ING now expects Gold to rise more slowly and with greater volatility, cutting its 2026 Q3 and Q4 average price forecasts while stressing that structural supports such as central bank buying and geopolitical risks remain intact.Forecast downgrade but structure intact”While we remain constructive on gold over the medium term, the near-term environment has become more challenging. As a result, we are lowering our gold price forecasts.””Higher yields, a stronger dollar and weaker ETF…
The rupee appreciated by 11 paise to settle at 94.65 (provisional) against the US dollar on Wednesday on the back of a steep fall in global crude oil prices.Brent crude, the global oil benchmark, was trading lower by 2.05 per cent at USD 75.50 per barrel in futures trade.Positive sentiments in the domestic equity markets and FII inflows further supported the local unit, according to forex traders.At the interbank foreign exchange, the rupee opened at 94.88 and traded in the range of 94.59-94.93 during the day. It settled at 94.65 (provisional), up 11 paise from its previous close.The rupee declined…
The Indian rupee pared early losses to trade little changed on Wednesday, supported by likely central bank intervention, while dollar-rupee forward premiums slumped after the country’s central bank chief said talk of rate hikes is “premature.”The rupee was at 94.70 per dollar, barely changed from its close at 94.7350 in the previous session.The currency had slipped to 94.9150 in early trading before dollar sales from state-run banks, most likely on the RBI’s behalf, helped pare losses, traders said.Nearly concurrently, forward premiums slid, with the 1-year forward implied yield dipping as much as 12 basis points to 2.80%.Traders said while reaction…
Here is what you need to know on Wednesday, June 24:The US Dollar (USD) continues to gather strength against its major rivals midweek, supported by the risk-averse market atmosphere and growing expectations for a Federal Reserve (Fed) rate hike as early as September. The economic calendar will feature IFO business sentiment data from Germany. In the second half of the day, May New Home Sales data from the US will be released.After closing in positive territory on Monday, the USD Index gathered bullish momentum and gained nearly 0.4% on Tuesday. The data from the US showed that the S&P Global…