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The Indian Rupee attracts some sellers in Thursday’s early European session.  Trump plans to implement a 26% tariff on Indian imports, weighing on the INR.  The US weekly Initial Jobless Claims and ISM Services PMI will be the highlights later on Thursday.  The Indian Rupee (INR) remains under selling pressure on Thursday, pressured by the weakening in Asian equity and currency markets after US President Donald Trump imposed broad-based tariffs. Trump said on Wednesday that he would impose 26% tariffs on imports from India effective from April 9, a component...

The Indian Rupee attracts some sellers in Thursday’s Asian session.  Trump plans to implement a 26% tariff on Indian imports, weighing on the INR.  The US weekly Initial Jobless Claims and ISM Services PMI will be the highlights later on Thursday.  The Indian Rupee (INR) remains under selling pressure on Thursday, pressured by the weakening in Asian equity and currency markets after US President Donald Trump imposed broad-based tariffs. Trump said on Wednesday that he would impose 26% tariffs on imports from India effective from April 9, a component of...

EUR/USD moves higher to near 1.0820 ahead of US President Trump's announcement of reciprocal tariffs. Anxiety over Trump's tariffs has dampened the confidence of US businesses and households. Soft Eurozone HICP data paves the way for more ECB interest rate cuts. EUR/USD rises to near 1.0820 during North American trading hours on Wednesday. The major currency pair gains as the US Dollar (USD) declines before the announcement of reciprocal tariffs by United States (US) President Trump at 20:00 GMT. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, falls to near...

Traders show little interest in the Greenback, volatility in the DXY tightens.  US President Trump is set to issue reciprocal tariffs for all countries on Wednesday.  The US Dollar Index trades stable in the green around 104.30, while looking for any sort of driver.  The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is consolidating this week with highs and lows coming in closer to one another at the 104.30 round level this Tuesday. Clearly, market participants are not fond of the...

The Pound Sterling gains to near 1.2925 against the US Dollar, while investors ignore fresh tariffs by US President Trump on auto imports. Fed Kashkari supports leaving interest rates at their current levels for an extended period. UK Reeves cuts welfare benefits and remains committed to her fiscal agenda. The Pound Sterling (GBP) recovers strongly to near 1.2925 against the US Dollar (USD) during European trading hours on Thursday. The GBP/USD pair bounces back after a slight corrective move in the last five trading days from the four-month high of...

EUR/USD finds support below 1.0800 as the US Dollar struggles to extend upside amid easing fears of impending tariffs by the US on April 2. Preliminary US S&P Global Services PMI gained significantly in March. The ECB is expected to cut interest rates again in April. EUR/USD finds cushion around 1.0780 and rises to near 1.0825 during North American trading hours on Tuesday. The major currency pair attracts bids as the US Dollar (USD) drops on the narrower-than-feared tariff agenda of United States (US) President Donald Trump. The US Dollar Index (DXY), which tracks the Greenback's value...

The Indian Rupee gains ground in Monday’s Asian session.  Fresh foreign and USD inflows support the INR.  The preliminary readings of the India HSBC PMI and US S&P Global PMI reports will be the highlights later on Monday. The Indian Rupee (INR) trades stronger on Monday after closing its strongest in over two months. Positive domestic equities and fresh foreign fund inflows could provide some support to the Indian currency. Additionally, the US Dollar (USD) inflows help mitigate the impact of the decline in Asian peers. Nonetheless, a rebound in Crude...

The Indian Rupee softens in Wednesday’s Asian session.  The likely RBI intervention and softer US Dollar underpin the INR.  The Indian and US CPI inflation reports will take center stage later on Wednesday.  The Indian Rupee (INR) softens on Wednesday. The unabated outflows of foreign funds into Indian equities could exert some selling pressure on the local currency. Foreign investors have withdrawn almost $15 billion from Indian shares so far this year, putting outflows on track to surpass the record $17 billion registered in 2022. Nonetheless, the potential foreign exchange intervention...

The Indian Rupee strengthens in Wednesday’s early European session.  The likely RBI intervention and softer US Dollar underpin the INR.  The Indian and US CPI inflation reports will take center stage later on Wednesday.  The Indian Rupee (INR) rebounds on Wednesday. The potential foreign exchange intervention from the Reserve Bank of India (RBI) and strong Asian currencies, especially the offshore Chinese Yuan provide some support to the Indian currency. Nonetheless, the unabated outflows of foreign funds into Indian equities could exert some selling pressure on the local currency. Foreign investors have...

The Indian Rupee strengthens in Wednesday’s Asian session.  The likely RBI intervention and softer US Dollar underpin the INR.  The Indian and US CPI inflation reports will take center stage later on Wednesday.  The Indian Rupee (INR) rebounds on Wednesday. The potential foreign exchange intervention from the Reserve Bank of India (RBI) and strong Asian currencies, especially the offshore Chinese Yuan provide some support to the Indian currency. Nonetheless, the unabated outflows of foreign funds into Indian equities could exert some selling pressure on the local currency. Foreign investors have withdrawn...