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The Australian and New Zealand dollars struggled to regain their footing on Tuesday after China's move to cut several key interest rates, while the yen rose ahead of Bank of Japan's (BOJ) policy meeting at the end of the month. China on Monday surprised markets by cutting major short and long-term interest rates in its first such broad move since last August, signalling intent to boost growth in the world's second-largest economy. The two Antipodean currencies, often used as...
Aussie, kiwi dollars struggle on China's rate cuts; yen gains
The Indian rupee is expected to open higher on Thursday after weak U.S. services and labor data prompted a drop in the dollar index and U.S. Treasury yields, spurring a recovery in Asian currencies. Non-deliverable forwards indicate the rupee will open at 83.50 to the U.S. dollar, compared with 83.53 in the previous session. The dollar index dropped on Wednesday and dipped further during Asian hours. Asian currencies, which have broadly been under pressure, recovered on the day. The ...
Rupee to inch up on relief for Asia FX after weak US data
The Indian rupee is expected to decline at the open on Tuesday, weighed down by a further rise in U.S. Treasury yields amid increasing expectations of Donald Trump winning the U.S. presidency. Non-deliverable forwards indicate the rupee will open at 83.47-83.48 to the U.S. dollar, compared with 83.4375 in the previous session. Asian currencies were down between 0.1% and 0.5%, with the offshore Chinese yuan dipping below 7.3050 to the U.S. dollar. In line with Asia, the rupee will ...
Rupee expected to decline on the back of rising US yields
The yen languished near a 38-year low on Thursday and struggled on the weaker side of 160 per dollar, keeping markets on alert for any signs of intervention from Japanese authorities to prop up the currency. In the broader market, the dollar was on the front foot and stood near an eight-week high against a basket of currencies, helped in part by a weaker yen and as it rose in step with U.S. Treasury yields. The yen edged a marginal 0.1% higher to 160.63 per dollar in the early Asi...
Battered yen pinned near multi-decade low amid resilient dollar
Gold prices edged up on Monday as Treasury yields fell, while investors awaited key U.S. inflation data and Federal Reserve officials' comments through the week for fresh clues on the potential timing of the central bank's interest rate cut. Spot gold was up 0.2% at $2,325.53 per ounce as of 0333 GMT, after falling more than 1% on Friday. U.S. gold futures rose 0.3% to $2,338.10. Benchmark 10-year U.S. Treasury yields edged down, making non-yielding bullion more attractive for i...
Gold edges higher on softer yields; US inflation data in focus
The dollar was steady on Monday as traders looked ahead to fresh clues on the U.S. inflation path that will likely influence interest rates, while talk from Japanese authorities did little to temper the yen's decline back the round number of 160. The yen weakened to 159.94 per dollar in early trade on Monday, its lowest since April 29, when the yen touched a 34-year low of 160.245 leading to Japanese authorities spending some 9.8 trillion yen to support the currency. It was last at ...
Dollar steady ahead of inflation reading; yen teeters toward 160
The dollar touched an eight-week high above 159 yen on Friday and traded at its highest in nearly five weeks against sterling, with the Federal Reserve's patient approach to cutting interest rates contrasting with more dovish stances elsewhere. The dollar index, which measures the currency against six others, spiked 0.41% overnight, erasing declines for the week, following a second successive rate cut at the Swiss National Bank and hints from the Bank of England for a reduction in Augu...
Dollar holds firm as Fed seen less dovish than peers
The dollar hovered near a one-month peak against the euro and pushed to a one-week high versus the yen on Tuesday as traders braced for crucial U.S. inflation data and fresh Federal Reserve interest rate forecasts the following day. The U.S. currency was supported by higher Treasury yields in the aftermath of surprisingly robust domestic jobs data at the end of last week, which sparked a dramatic paring of bets for Fed rate cuts this year. The Bank of Japan sets policy on Friday, and wh...
Dollar firm ahead of key inflation test, Fed forecast update
Gold prices held steady on Monday after a sharp sell-off in the previous session on stronger-than-expected U.S. jobs data, with investors awaiting the Federal Reserve policy meeting this week for further direction. Spot gold was up 0.1% at $2,295.29 per ounce, as of 0346 GMT. U.S. gold futures fell 0.5% to $2,312.20. Bullion declined 3.5% on Friday in its biggest drop since November 2020 after the U.S. jobs report and China data showing the world's top consumer held off gold purchas...
Gold holds steady after biggest sell-off in 3-1/2 years
The Indian rupee is expected to open lower on Monday, after jobs data indicated that the U.S. labour market remained robust, reducing the likelihood of Federal Reserve rate cuts later this year. Non-deliverable forwards indicate rupee will decline to around 83.48-83.50 from 83.3725 in the previous session. The rupee last week was choppy amid India's election results, which spurred foreigners to sell local equities and likely dollar sales by the Reserve Bank of India. "I would t...
Rupee seen weaker after US jobs data casts doubts on Fed rate cuts
Asian stocks sank on Monday as traders heavily pared back on bets for Federal Reserve rate cuts this year given a still-tight U.S. labour market, while a snap election call in France sparked wider political concerns and weighed on the euro. Trading was thinned in Asia with Australia, China, Hong Kong and Taiwan out for public holidays, but MSCI's broadest index of Asia-Pacific shares outside Japan still slumped 0.46%. U.S. futures eased slightly, with S&P 500 futures and Nasdaq ...
Asia shares stumble; political uncertainty grips euro
Asian stocks are set to snap a two-week losing streak on Friday after major central banks kick-started their rate easing cycle this week, adding to expectations the U.S. Federal Reserve could soon follow suit. The European Central Bank (ECB) delivered a well-telegraphed rate cut on Thursday, a day after the Bank of Canada became the first G7 nation to trim its key policy rate. The two join Sweden's Riksbank and the Swiss National Bank in beginning their respective monetary easing cy...
Asia shares set for weekly gain on rate-cut rally
Gold prices rose on Wednesday helped by a weakness in the U.S. dollar and Treasury yields, as investors waited for more economic data to gauge the Federal Reserve's next step on monetary policy. Spot gold was up 0.3% at $2,335.62 per ounce, as of 0609 GMT, after prices fell 1% in the previous session. U.S. gold futures rose 0.4% to $2,355.50. The dollar inched up after hitting a near two-month low in the last session, while benchmark 10-year Treasury yields lingered near their lowes...
Gold prices rise as traders seek more US data for Fed cues
Gold prices rose on Monday as weaker-than-expected U.S. economic data cemented expectations that the Federal Reserve would cut interest rates later this year, sending the dollar and bond yields lower. Spot gold was up 0.9% at $2,347.12 per ounce as of 2:38 p.m. ET (1838 GMT), after posting a 2% gain last month. Prices hit an all-time high of $2,449.89 on May 20. U.S. gold futures settled 1% higher at $2,369.3 per ounce. "We've had a bit of a pullback, we'd prefer to call...
Gold rises as soft US economic data spurs Fed rate cut bets
The Indian rupee will open marginally higher on Tuesday, with the intraday direction to be dictated by results of the country's general elections. Non-deliverable forwards (NDF) indicate the rupee will open at 83.08-83.10 to the U.S. dollar compared with 83.1425 in the previous session. The uptick at open indicated by NDF "has got to do with the overall dollar weakness and hardly matter today", a FX trader at a bank said. The vote count trends will begin trickling in fr...
Rupee to inch up at open, traders eye election verdict
Asian share markets were mildly weaker on Tuesday as global investors consider the prospect the U.S. economy's 'exceptionalism' is starting to unwind as manufacturing activity in the world's largest economy further weakened. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1%, after U.S. stocks ended the previous session with mild gains. The index is up 1.6% so far this month. Australian shares were down 0.21%, while Japan's Nikkei stock inde...
Asian shares retreat as investors question US economic strength
The Indian rupee on Friday is set to receive a boost from the dip in U.S. Treasury yields before key inflation data and likely equity inflows. Non-deliverable forwards indicate the rupee will open at 83.28 to the U.S. dollar, compared with 83.3175 in the previous session. India's national election exit polls will be out on Saturday. "I would say interbank is right now slightly short (on dollar/rupee) heading into the exit polls," a currency trader at a bank said. The...
Rupee to inch higher on pullback in US yields, possible inflows
Gold prices eked out gains on Thursday as the dollar and Treasury yields slipped after U.S. economic data raised hopes that the Federal Reserve is firmly on track to cut interest rates this year. Spot gold was up 0.2% at $2,344.19 per ounce as of 2:02 p.m. ET (1802 GMT). U.S. gold futures settled 0.1% higher at $2,366.5. "We're seeing a little bit of bargain hunting after the dip in prices. The U.S. dollar index is trading with some pretty solid losses right now, so t...
Gold rebounds as dollar, bond yields retreat after US data
The dollar was licking wounds against peer currencies on Friday after a downward revision to U.S. GDP for the first quarter suggested room for rate cuts this year, while investors braced for inflation data. Official data showed overnight that the U.S. economy grew at an 1.3% annualised rate from January through March, down from the advance estimate of 1.6% after downward revisions to consumer spending. U.S Treasury yields, which had boosted the greenback to its highest since May 14 at 1...
Dollar steadies before inflation test; yen brushes off Tokyo CPI
Asian stocks rose on Friday and were poised for the fourth month of gains, while the dollar drifted lower, keeping the yen steady as investors await inflation readings from Europe and the U.S. that will likely dictate the path of interest rates globally. A downward revision to consumer spending meant the U.S. economy grew more slowly than expected in the first quarter, data showed on Thursday, weighing on Treasury yields and the dollar. [FRX/] [US/] The economic data also stoked expecta...
Asia stocks gain, dollar drifts as inflation tests await
Indian rupee weakened against the US dollar on Thursday, tracking a strong American currency overseas ahead of key US inflation data that could offer further clarity on the Federal Reserve's interest rate plan. Moreover, rising US Treasury yield and hawkish stance of the US Federal Reserve also dampened rupee sentiments. Local unit further weakened amid foreign fund outflows in the market. Foreign Institutional Investors were net sellers in the capital markets on Wednesday, selling shares...
Rupee weakens against US dollar on Thursday
Gold prices slipped for a second consecutive session on Thursday as the U.S. dollar and Treasury yields edged higher ahead of key inflation data, which could offer further clarity on the Federal Reserve's interest rate plan. Spot gold was down 0.4% at $2,330.44 per ounce, as of 0311 GMT, after falling 1% on Wednesday. U.S. gold futures fell 0.5% to $2,328.60. The dollar strengthened 0.5%, making the greenback-priced bullion less attractive for other currency holders, while benchm...
Gold prices drop as strong US dollar, yields dim bullion`s shine
The Indian rupee is poised to fall on Thursday following a further rise in U.S. Treasury yields amid worries over supply, that pushed the dollar index to the highest in two weeks. Non-deliverable forwards indicate rupee will open at 83.36-83.38 to the U.S. dollar, compared to 83.3450 on Wednesday. After touching a high of 83.0250 on Friday, the rupee has fallen for three straight days and logged its worst day in seven weeks on Wednesday. Unwinding of short dollar/rupee positions, hig...
Rupee seen extending declines on higher US yields; dollar at 2-week high
Asian stocks were a sea of red on Thursday and bonds slid on bets global interest rates would stay higher for longer, as investors looked to key inflation readings at the end of the week for further clues on the future path of monetary policy. The dollar rode U.S. Treasury yields higher while gold remained under pressure on renewed expectations that the Federal Reserve is unlikely to cut rates any time soon. The latest halt in the global risk rally has come on the back of data pointing ...
Stocks, bonds slump over global rates angst
The Indian rupee logged its biggest daily decline against the U.S. dollar in nearly seven weeks on Wednesday, pressured by persistent dollar demand from importers and election-related risks. The rupee ended at 83.3450, down from 83.1775 in the previous session. It fell 0.2% on Wednesday, its biggest daily fall since April 12. The recent decline in the rupee has been "exacerbated" by month-end dollar buying by oil importers, said Sugandha Sachdeva, founder of SS WealthStreet, a...
Rupee sees worst day in 7 weeks on importers` dollar demand, election risk
Gold prices edged lower on Wednesday as the U.S. dollar and Treasury yields held firm ahead of key inflation data, which could offer more clarity on the Federal Reserve's interest rate trajectory. Spot gold eased 0.2% to $2,356.92 per ounce as of 0334 GMT. Prices had hit an all-time high of $2,449.89 on May 20. U.S. gold futures rose 0.1% to $2,357.80. The dollar firmed 0.1%, making gold less attractive for other currency holders, while benchmark U.S. 10-year bond yields rose to ...
Gold subdued as US dollar, yields firm; traders await inflation data
U.S. Treasury yields pushed to a near four-week peak on Wednesday, lifting their Asia-Pacific counterparts and the dollar while pressuring equities, as data sowed new doubts about the timing and extent of Federal Reserve rate cuts. Crude oil rose for a fourth day to reach a four-week high amid speculation OPEC+ will maintain production cuts at a meeting this Sunday. Benchmark U.S. 10-year yields ticked as high as 4.556% in Tokyo trading hours, a level not seen since May 3, following poo...
Bond yields climb, stocks under pressure as Fed cut doubts resurface
The Indian rupee is likely to be weaker on Friday after robust U.S. data prompted doubts about whether the Federal Reserve will cut rates later this year, pushing the dollar and U.S. Treasury yields higher. Non-deliverable forwards indicate the rupee will open marginally weaker to the dollar from 83.28 in the previous session. The rupee rose for the third day on Wednesday, hitting the highest in six weeks. Indian foreign exchange and money markets were closed on Thursday. The near-te...
Rupee may struggle after Fed rate cut expectations dialled back
Asian shares started the week by rallying two-year highs on Monday, buoyed by China's strongest measures yet to address its property crisis and by expectations for global rate cuts within weeks, while the dollar steadied after a weekly drop. Brent crude futures touched a one-week high of $84.14 a barrel in early trade, with the crash, in heavy fog, of a helicopter carrying Iran's president drawing traders' attention to the Middle East. Gold hovered close to a record high at $2,...
Asia shares touch two-year top as China plans property boost
Gold prices inched up on Thursday following a sharp rise in the last session as the dollar and bond yields weakened on the increasing likelihood of rate cuts by the U.S. Federal Reserve as early as September. Spot gold rose 0.1% at $2,388.10 per ounce, as of 0255 GMT, after gaining more than 1% to its highest since April 19 on Wednesday. U.S. gold futures rose 0.1% to $2,393.20. The dollar fell 0.2% against a basket of other major currencies, making the greenback-priced bullion less exp...
Gold drifts higher as rising Fed rate cut expectations boost appeal
The Indian rupee will open higher on Thursday after weak U.S. retail sales and cooling U.S. inflation made it more likely that the Federal Reserve will cut rates later this year. Non-deliverable forwards indicate the rupee will open at 83.42-83.44 to the U.S. dollar, up from 83.50 in the previous session. U.S. consumer prices increased less than expected in April, fuelling hopes that the Fed will reduce borrowing costs, most likely at the September meeting. U.S. retail sales were une...
Rupee to open higher after data boosts odds of Fed rate cuts
Gold prices rebounded on Tuesday, helped by a pullback in the dollar and Treasury yields after data showed U.S. producer prices rose more than expected in April, suggesting inflation remained high. Spot gold was up about 1% at $2,358.98 per ounce by 1817 GMT after dropping 1% on Monday. U.S. gold futures settled 0.7% higher at $2,359.90. "The dollar is down and I think that's giving a bit of a lift to the gold market," said Marex analyst Edward Meir. "The fact that...
Gold regains ground as dollar, yields slip post US PPI data
The dollar traded near a one-month low versus the euro on Wednesday amid lower Treasury yields as traders braced for a key U.S. inflation report later in the day that could dictate the path of Federal Reserve policy. The yen languished near a two-week low, as a still-gaping yield gap between local bonds and U.S. peers continued to encourage selling of the Japanese currency. The yuan slid to a two-week low versus the dollar after U.S. President Joe Biden unveiled steep tariff increases o...
Dollar droops ahead of crucial CPI test; yen under pressure
The Indian rupee will likely be comforted on Wednesday by a decline in U.S. Treasury yields ahead of the key U.S. inflation data that will provide cues on the Federal Reserve's interest rate path this year. Non-deliverable forwards indicate rupee will open marginally higher to the U.S. dollar, from 83.51 in the previous session. The rupee has been holding a narrow range in recent days, circling the 83.50 handle. A handful of traders reckon that the Reserve Bank of India has been lin...
Rupee may see relief on dip in US yields ahead of inflation print
The Indian rupee on Friday will be aided by the drop in U.S. Treasury yields on indications that the U.S. labour market is cooling, while contending with dollar outflows spurred by worries over the election results. Non-deliverable forwards indicate the rupee will open at 83.48-83.50 to the U.S. dollar, compared with 83.5025 in the previous session. Worries over the Indian election results, due on June 4, have prompted foreigners to take out money from equities, pushing the benchmark Ni...
Rupee helped by dip in US yields, while election uncertainty weighs
The Indian currency is expected to inch higher at the open on Thursday, ignoring the weakness in its Asian peers and the uptick in U.S. Treasury yields. Non-deliverable forwards indicate the rupee will open at 83.46-83.48 to the U.S. dollar, compared with its close of 83.5175 in the previous session. "There is nothing much here. A slightly softer opening (for USD/INR), if it does materialize, will not change the directionless mode we are in," an FX trader at a bank said. &q...
Rupee to shrug off drop in Asia FX, higher US yields
Asian stocks lacked direction on Wednesday, while the dollar remained firm despite lower U.S. Treasury yields as markets assessed mixed signals from U.S. policymakers and economic data on the path for Federal Reserve interest rates. The yen remained on the back foot even with the threat of currency intervention from Japanese authorities to support it. Crude oil hovered near two-month lows amid signs of easing supply pressure and continued hopes for a Middle East ceasefire. MSCI's...
Asia stocks drift, dollar firm as Fed rate path pondered
The Indian rupee is likely to open largely unchanged on Monday, despite a drop in U.S. Treasury yields and the dollar after the monthly U.S. jobs report made it more likely that the Federal Reserve will cut interest rates later in the year. Non-deliverable forwards indicate the rupee will open flat from 83.4150 in the previous session. Asia "has not done too much" and "anyway, you need a lot" for the rupee to move, an fx trader at a bank said. "Maybe at least...
Rupee unlikely to benefit from softer US payrolls, upbeat risk
Seoul's Industry Minister Ahn Duk-geun on Saturday welcomed the US government's move to extend tax credits for electric vehicles (EV) containing Chinese graphite until the end of 2026. In a statement, Duk-geun said that his ministry's efforts to "reflect South Korean companies' position, including on the graphite issue, bore fruit," reports Yonhap news agency. South Korea has expressed concerns that it will be difficult to find an alternative supply chain...
South Korea welcomes US move to extend tax credits for EVs containing Chinese graphite
The Indian rupee is expected to broadly struggle on Thursday amid an uptick in U.S. Treasury yields and losses on Asian currencies and equities before the U.S. GDP data. Non-deliverable forwards indicate the rupee will open marginally weaker to nearly flat to the U.S. dollar from 83.3225 in the previous session. The rupee, having slipped to an all-time low of 83.5750 on Friday, has broadly done well. The cooling off of the Iran-Israel crisis and inflows have helped the local currency re...
Rupee may struggle on higher US bond yields, weak Asian cues
Asian shares extended gains on Tuesday, taking cues from Wall Street as focus shifts to earnings results from U.S. tech giants in the week, while a still strong dollar pressured the Japanese yen to fresh 34-year lows. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5%, helped by a 1% jump in Taiwanese shares and a 0.8% advance in Hong Kong's Hang Seng index. The Asian index rose 1% the day before on easing fears of a major escalation in the Middle East conflict...
Asian shares extend gains ahead of tech earnings, yen fragile
Gold prices dipped on Monday, as easing fears of a wider Middle East conflict lowered bullion's safe-haven appeal, while market participants awaited a key U.S. inflation reading due later this week for interest rate cues. Spot gold fell 0.9% to $2,369.97 per ounce, as of 0451 GMT. U.S. gold futures fell 1.2% to $2,383.80. Tehran downplayed Israel's retaliatory drone strike against Iran, in what appeared to be a move aimed at averting regional escalation. Gold slipped on Monda...
Gold retreats as Middle East tensions ebb
India's rupee and government bonds will move this week based on developments in the Middle East crisis as well as a key U.S. inflation gauge that will impact the interest rate outlook. The rupee dropped to a record low of 83.5750 to the U.S. dollar on Friday amid worries over a wider conflict in the Middle East and expectations that U.S. interest rates are likely to remain higher for longer. The currency fell 0.1% in the week to end at 83.47, and the losses would have been larger ha...
Indian forex, bond investors eye Middle East developments, US inflation
Asian stocks recovered some losses on Monday and bond yields rose as fears of a wider Middle East conflict ebbed, with investors gravitating back towards riskier assets. Gold and the safe-haven dollar pulled back from near their peaks, and crude oil prices declined as the potential for a major supply disruption waned. Iran said on Friday that it had no plan to retaliate following an apparent Israeli drone attack within its borders, which in turn followed an unprecedented Iranian missile...
Asia stocks edge up, oil and gold retreat on tempered Mideast fears
The euro and yen were relatively steady in early Asian trading on Monday and the U.S. dollar stayed near its highs after last week's hectic policy and geopolitical developments. Eyes are on the yen this week, with the Bank of Japan's (BOJ) Friday policy review the notable item on the economic calendar. The yen hit 154.70 per dollar, not far from last week's 34-year low of 154.79 and close enough to the 155-level that is next on traders' alerts for possible intervention b...
Currencies calm but cautious after a weary week
Asian stocks crept higher in a mixed session on Thursday, while the dollar took a breather and bond markets steadied as investors stepped back to assess the interest rate outlook. Oil nursed its sharpest fall in two-and-a-half months on demand worries and the lack, so far, of an obvious Israeli or U.S. response to Iran's weekend attack. [O/R] Analysts do not expect dramatic new sanctions on Iranian oil, although the U.S. was set to reimpose oil sanctions on Venezuela which steadied ...
Asia stocks mixed as soaring dollar pauses
The Indian rupee will likely slip below 83.50 to a lifetime low on Tuesday, pressured by the dollar's broad rally on risk aversion and data that indicated that the U.S. Federal Reserve could hold off from cutting interest rates. Non-deliverable forwards indicate rupee will open 83.52-83.54 to the U.S. dollar compared with 83.45 in the previous session. The local currency just about managed to avoid the 83.4550 record low on Monday on likely intervention by the Reserve Bank of India....
Rupee may weaken past 83.50/USD on risk-aversion powered dollar rally
Asian shares slumped and gold prices rose on Monday as risk sentiment took a hit after Iran's retaliatory attack on Israel stoked fears of a wider regional conflict and kept traders on edge. The dollar scaled a fresh 34-year high against the yen on growing expectations that sticky inflationary pressures in the United States will keep rates there higher for longer. Markets in Asia began the week on a cautious footing. MSCI's broadest index of Asia-Pacific shares outside Japan fel...
Asia stocks slide, gold rises as Middle East conflict sparks safety rush
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