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The rupee hitting a historic low of 92 against the US dollar on January 23 is likely to make imports ranging from crude oil to electronic goods, overseas education and foreign travel costlier, stoke inflation concerns, but may offer some relief to exporters. The local currency has slumped by 202 paise, or over 2 per cent, so far this month. In 2025, it had plunged 5 per cent on unabated foreign fund outflows and dollar strength. The immediate impact of a depreciating rupee is on importers who will have to shell out more for the same quantity and price. India…
EUR/USD registers solid gains late in the North American session on Friday after rumors of an intervention in the FX markets to boost the Japanese Yen sent the US Dollar (USD) sliding, with losses of over 0.70%, according to the US Dollar Index (DXY). This, despite the economic data being moderately positive on Friday. At the time of writing, the pair trades at 1.1811 after hitting a four-month high of 1.1826 earlier during the day.Euro rallies sharply as speculation of FX intervention sends the Dollar to multi-month lowsA Bloomberg headline, “Yen jumps most since August as risk of intervention ramps…
Gold (XAU/USD) surges during the North American session on Friday, up by over 1% as the US Dollar (USD) gets smashed on intervention rumors to propel the Japanese Yen (JPY) in the FX markets, amid an improvement in risk appetite that pushed the yellow metal to fresh all-time highs at $4,988.Bullion hits fresh record highs as sharp Dollar losses outweigh improving risk sentiment and steady yieldsMarket mood remains upbeat, yet Bullion prices continue to run up as the US Dollar tumbles to its lowest level since October 2025. The US Dollar Index (DXY), which tracks the buck’s performance against a…
The US Dollar (USD) ended the week near a four-month low of around 97.80, maintaining a weak tone amid risk aversion in financial markets. Concerns escalated after US President Donald Trump threatened to impose 10% tariffs on eight European countries, which would increase over time unless Denmark agrees to sell Greenland to the US. Tensions remained high until Trump, along with NATO Secretary General Mark Rutte, announced a framework for a future deal regarding Greenland on Wednesday.In addition, the US released updated data on its Gross Domestic Product (GDP) for the third quarter (Q3), revising the annualized growth rate for…
USD/JPY plunges over 300 pips on Friday amid a suspected Japan Ministry of Finance (MoF) ‘rate check’, as excessive Yen (JPY) weakness fuels intervention fears. At the time of writing, the pair is trading around 156.18, down nearly 1.40% on the day, sliding to its lowest level since late December.At the same time, broad-based weakness in the US Dollar (USD) is adding to the downside pressure, as concerns over Federal Reserve (Fed) independence and US President Donald Trump’s protectionist trade policies continue to erode confidence in the Greenback, despite a recent easing of US-European Union (EU) trade tensions.The US Dollar…
The British Pound (GBP) continues to outperform the US Dollar (USD) on Friday, with GBP/USD climbing to the 1.3600 handle as the Greenback remains under broad-based selling pressure. At the time of writing, the pair is up nearly 0.73% on the day, marking its highest level since September 18, 2025.Sterling is also drawing support from stronger-than-expected UK economic data, which has tempered near-term rate cut expectations at the Bank of England (BoE).The flash Composite Purchasing Managers Index (PMI) rose to 53.9 in January from 51.4, with the Services PMI jumping to 54.3 from 51.4, while the Manufacturing PMI improved to…
Gold (XAU/USD) regains ground on Friday, notching yet another record high after coming under brief pressure earlier in the day. At the time of writing, XAU/USD is trading around $4,980, rebounding from an intraday low near $4,899, and remains on track for a third consecutive weekly gain.Meanwhile, a mixed batch of US economic data failed to offer meaningful support to the US Dollar (USD), allowing Gold to extend its advance.Bullion is up more than 8% this week, supported by strong safe-haven demand after renewed trade rhetoric from US President Donald Trump over the Greenland dispute unsettled global markets, reviving “Sell…
The Euro (EUR) trades flat against the US Dollar (USD) on Friday, as traders show a muted reaction to the latest US economic data. At the time of writing, EUR/USD is hovering near 1.1750 and remains on track for its first weekly gain in three weeks amid sustained weakness in the Greenback.Preliminary S&P Global Purchasing Managers Index (PMI) data showed the flash Composite PMI edging up to 52.8 in January from 52.7, while the Manufacturing PMI rose to 51.9 from 51.8, missing expectations of 52.1, and the Services PMI came in at 52.5, unchanged from December and below the 52.8…
Silver (XAG/USD) prices reached the $100.00 milestone on Friday, recording an all-time high of $100.39 before retreating towards the triple-digit figure. The grey metal is posting daily gains of over 4% after bouncing off daily lows of $96.04.Even though geopolitical risk diminished following the de-escalation of the US-European Union trade war, the US Dollar (USD) faces headwinds, continuing to extend its losses during the year.According to TASS, Russia, Ukraine and the US talks had started in Abu Dhabi, aimed to finally reach an agreement to end the war.XAG/USD Price Forecast: Technical outlookSilver’s parabolic uptrend continues, as depicted by price action.…
GBP/USD surges during the North American session on Friday by over 0.31% on stronger-than-expected Retail Sales and PMI data, even though the US Dollar (USD) trimmed losses on an upbeat Consumer Sentiment report. At the time of writing, the pair trades at 1.3542 after bouncing off daily lows of 1.3482.Sterling rallies on strong UK data, trimming Bank of England easing expectationsIn the UK, Retail Sales data sponsored a leg-up in the GBP/USD pair, which cleared the 1.3500 figure, but it remains shy of the latest cycle high, which could pave the way towards 1.3600. In December, Retail Sales rose 0.4%…