Indian Rupee hits all-time low around 96.00 against US Dollar
The Indian Rupee (INR) slides to a fresh all-time low against the US Dollar (USD) on Friday. The USD/INR pair jumps to 96.00 as the Indian Rupee faces intense selling pressure due to growing concerns over India’s foreign exchange reserves, following centre’s decision to hike import duty on Gold and Silver. Increase in import tariffs […]
Stays below 212.00 as bears remain in charge
The GBP/JPY cross attracts some follow-through selling for the second consecutive day and drops to a one-and-a-half-week low during the early European session on Friday. Spot prices, however, rebounded a few pips in the last hour and currently trade near the 211.75 region, down 0.25% for the day. The British Pound (GBP) continues with its […]
Gold weakens below $4,600 as USD rallies on Fed bets, geopolitics
Gold (XAU/USD) prolongs this week’s pullback from the monthly peak and drifts lower for the fourth straight day on Friday. The downward trajectory drags the commodity below the $4,600 mark, or an over one-week low, and is sponsored by a sustained US Dollar (USD) buying interest. The USD Index (DXY), which tracks the Greenback against […]
Xi Jinping likely has power to sway Iran
US President Donald Trump said on Thursday that China’s leader Xi Jinping likely has power to sway Iran, adding that he’s not going to be much more patient on the Iran, Reuters reported on Friday. Earlier Thursday, Trump stated that China’s leader Xi Jinping had offered to help negotiate an end to the war with […]
Pound Sterling slips through 1.35 as the Labour crisis tops a UK GDP beat
GBP/USD fell 0.9% on Thursday, breaking below 1.3500 in a sharp staircase decline from session highs to a low close to 1.3395. The move extended a multi-week downtrend from the early-March peak, with bearish momentum building through the European afternoon. The daily candle closed near session lows. The Pound Sterling came under heavy pressure on […]
Gold slides as strong USD, US-China summit dent haven demand
Gold (XAU/USD) retreats by some 0.25% during the North American session on Thursday as tensions in the Middle East remain high, while the US-China summit is underway, with President Donald Trump meeting Chinese President Xi Jinping. At the time of writing, the XAU/USD pair trades at $4,678. XAU/USD falls as resilient US data boosts Dollar […]
Euro slides as resilient US retail sales fuel US Dollar rally
EUR/USD edges lower for the third consecutive day on Thursday during the North American session, down 0.22%, as US economic data showed consumers’ resilience. In contrast, labor market data showed a slight increase in the number of Americans filing for jobless benefits. The pair trades at 1.1679 after reaching a high of 1.1721. EUR/USD weakens […]
Continued inflation is the most pressing risk to the economy
President of the Federal Reserve (Fed) Bank of Kansas City, Jeffrey Schmid, said on Thursday that continued inflation is the most pressing risk to the economy. During a speech at a banking industry conference, he stated that the US economy is less vulnerable to global Oil disruptions than in the past, but high Oil prices […]
Stable at $4,700 as markets await news from Trump-Xi meeting
Gold (XAU/USD) is trading flat on a particularly calm market session on Thursday, with investors awaiting developments from a two-day summit between US President Donald Trump and his Chinese counterpart, Xi Jinping, in Beijing. Safe-haven flows triggered by the uncertainty about the ceasefire in Iran and higher US Treasury yields, following hot US inflation figures […]
Dow Jones futures gain on tech rally, awaits Trump-Xi talks updates, US Retail Sales
Dow Jones futures rise 0.30% to near 49,950 during the European hours on Wednesday, ahead of the United States (US) regular opening. Meanwhile, the S&P 500 advance 0.19% to near 7,480, and the Nasdaq 100 futures gain 0.41% toward 29,600. US stock futures gain as the S&P 500 and the Nasdaq 100 closed at fresh […]
