The Indian Rupee started off the new week on a positive note, showing strength despite the stronger US Dollar. This resilience can be attributed to various factors such as the positive economic growth outlook in India, significant foreign inflows into Indian markets, and expectations of continued policy reforms following the general election results. One of
Forex News
The current market speculation surrounding the Bank of England (BoE) lowering interest rates in August has put pressure on the Pound Sterling against the US Dollar. The uncertainty in the UK’s economic outlook, especially in the lead-up to the UK elections, has contributed to this downward trend. The BoE’s decision to keep interest rates at
In a recent statement, Masato Kanda, Japan’s top currency diplomat, emphasized the role of the Bank of Japan (BoJ) in intervening in foreign exchange markets when deemed necessary. Kanda highlighted the need for appropriate measures to address excessive forex movements, signaling that Japan is closely monitoring exchange rate fluctuations. Following Kanda’s remarks, the Japanese Yen
The gold price is currently hovering near a two-week high due to market expectations of a rate cut by the Federal Reserve in September. This anticipation of a rate cut has bolstered the XAU/USD pair, despite the rise in US bond yields, which in turn supports the US Dollar and acts as a ceiling for
Silver, a precious metal highly traded among investors, has seen a rise in prices recently. With the current price of Silver at $30.19 per troy ounce, up -1.64% from the previous day, it is essential to understand the factors that influence these price movements. One of the key factors that can impact the price of
Silver prices, represented by XAG/USD, have remained relatively stable on Wednesday, trading at $29.55 per troy ounce. This marks a slight increase of 16.02% since the beginning of the year. One key metric to evaluate the value of Silver is the Gold/Silver ratio, which stood at 78.93, indicating the number of troy ounces of Silver
The US Dollar faced a decline on Tuesday, with the DXY Index dropping to 105.30, as investors reacted to the lower-than-anticipated Retail Sales figures for May. This downward movement was exacerbated by comments from Federal Reserve officials, signaling potential rate cuts in the near future. The mixed signals in the US economic outlook, coupled with
Costco Wholesale Corp. (COST) has been under the lens of Elliott Wave analysts, particularly in terms of its impulsive trend and motive structure. The analysis indicates that COST is currently in wave 5, specifically within wave {iii} of 5, suggesting an upward trajectory. Following the completion of the triangle in wave 4, wave {ii} of
The Euro is the currency for the 20 European Union countries that belong to the Eurozone, making it the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions with an average daily turnover of over $2.2 trillion. The EUR/USD pair is
The Pound Sterling has been fluctuating in the forex market, particularly against the US Dollar. The recent decline to 1.2700 against the USD can be attributed to the Federal Reserve’s indication of only one rate cut this year. This news has investors on edge, waiting to see how this decision will impact the GBP’s value
The USD/CAD pair has seen a recovery near 1.3730 during the early Asian trading hours on Thursday. This comes after the Federal Open Market Committee (FOMC) held its benchmark lending rate steady for the seventh time in a row at its June meeting. The decision came as no surprise to market players, but the accompanying
In recent trading sessions, the USD/JPY pair has shown a positive trend, marking the fourth consecutive day of gains. This upward movement is significant and has caught the attention of traders and analysts alike. The pair is currently trading near 157.15 during the early Asian trading hours on Wednesday, indicating a bullish sentiment among market
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