Forex News
- The British Pound starts positively at the start of the UK busy week.
- Investors will be pay close attention to the UK employment and CPI data ahead of the BoE’s policy decision.
- The BoJ is highly expected to hike interest rates on Friday.
The British Pound (GBP) is up against its major currency peers, except North American currencies, at the start of the United Kingdom (UK) data-packed week and the Bank of England’s (BoE) monetary policy announcement. As of writing, the Pound Sterling is up 0.14% at around 208.00 against the Japanese Yen (JPY).
Pound Sterling Price Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.25% | 0.14% | 0.28% | 0.02% | 0.33% | 0.50% | 0.24% | |
| EUR | -0.25% | -0.08% | 0.00% | -0.26% | 0.07% | 0.25% | -0.02% | |
| GBP | -0.14% | 0.08% | 0.08% | -0.15% | 0.16% | 0.34% | 0.00% | |
| JPY | -0.28% | 0.00% | -0.08% | -0.26% | 0.07% | 0.21% | -0.08% | |
| CAD | -0.02% | 0.26% | 0.15% | 0.26% | 0.30% | 0.47% | 0.16% | |
| AUD | -0.33% | -0.07% | -0.16% | -0.07% | -0.30% | 0.18% | -0.18% | |
| NZD | -0.50% | -0.25% | -0.34% | -0.21% | -0.47% | -0.18% | -0.34% | |
| CHF | -0.24% | 0.02% | -0.00% | 0.08% | -0.16% | 0.18% | 0.34% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
This week, investors will pay close attention to the UK employment data for three months ending July on Tuesday and the Consumer Price Index (CPI) data for August on Wednesday ahead of the BoE’s interest rate decision on Thursday.
Both the employment and the inflation data are expected to have a significant impact on BoE’s interest rate expectations for the policy meeting this week.
The UK labor market report is expected to show that the ILO Unemployment Rate increased to 5% from 4.9% in three months ending June. Average Earnings Including Bonuses, a key measure of wage growth, is expected to arrive lower at 3.9% Year-on-Year (YoY) from the previous reading of 4.1%, with figures for wage growth Excluding Bonuses remaining steady at 3.5%.
Meanwhile, UK’s core CPI – which excludes volatile components of food, energy, alcohol and tobacco – rose at a faster pace of 2.7% YoY against the previous reading of 2.6%.
Lately, markets experts believe that strong UK monthly Gross Domestic Product (GDP) data for July has kept BoE interest rate hike expectations alive.
UK data beat keeps BoE decision a close call
Analysts at Societe Generale note that UK growth data surprised to the upside in July, with "UK July GDP 0.4% m/m, 0.4% 3m/3m, above forecast." They highlight a broad-based advance across sectors, as "Services 0.4%, manufacturing 0.9%, construction 0.1%," all posted gains on the month.
According to Societe Generale, this "surprise July GDP gain of 0.4% could means close BoE call next week," potentially sharpening the debate over near-term policy moves. Even so, the bank maintains that the Monetary Policy Committee is likely to stay cautious, reiterating its baseline view that the BoE will remain "on hold at 3.75% through year-end."
This week, the JPY will be influenced by the Bank of Japan’s (BoJ) monetary policy announcement on Friday. The BoJ is widely anticipated to hike interest rates, which underpins policy guidance as major trigger for Yen’s next move.
Strategists at HSBC note that markets are increasingly pricing a quicker normalisation of Japanese monetary policy, with investors now expecting the Bank of Japan “to tighten policy faster than it has done in recent years.” They point out that “overnight index swaps imply around 75bp of cumulative hikes by April 2027 and even assign meaningful odds of a hike at the 18 September meeting, which stands out as unusual.” HSBC argues that these repricings “suggest investors anticipate a change in how the BoJ responds to inflation and growth risks.”
Economic Indicator
ILO Unemployment Rate (3M)
The ILO Unemployment Rate released by the UK Office for National Statistics is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the UK Economy. If the rate goes up, it indicates a lack of expansion within the UK labor market. As a result, a rise leads to a weakening of the UK economy. Generally, a decrease of the figure is seen as bullish for the Pound Sterling (GBP), while an increase is seen as bearish.
Read more.Next release: Tue Sep 15, 2026 06:00
Frequency: Monthly
Consensus: 5%
Previous: 4.9%
Source: Office for National Statistics
The Unemployment Rate is the broadest indicator of Britain’s labor market. The figure is highlighted by the broad media, beyond the financial sector, giving the publication a more significant impact despite its late publication. It is released around six weeks after the month ends. While the Bank of England is tasked with maintaining price stability, there is a substantial inverse correlation between unemployment and inflation. A higher than expected figure tends to be GBP-bearish.
- WTI opens with a bullish gap amid a further escalation of tensions between the US and Iran.
- The recent breakout through the 100-day SMA and the 61.8% Fibo. level favors bullish traders.
- Any corrective pullback is likely to find decent support and be bought into near the -$95.50 area.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – kicks off the new week on a positive note, reversing a part of Friday's retracement slide from its highest level since May 21. The black liquid currently trades just above mid-$98.00s, up over 2% for the day, and seems poised to climb further amid persistent geopolitical uncertainties stemming from the Middle East crisis.
In the latest developments, Iran-backed Houthi fighters in Yemen said that they used drones and missiles to attack a military base in southern Saudi Arabia. Adding to this, a planned regional meeting between Gulf states and Iran regarding the Strait of Hormuz has been postponed, fueling concerns about supply disruptions in the region and validating the near-term positive outlook for crude oil prices.
The near-term bias is bullish as WTI holds well above the 100-day Simple Moving Average (SMA) at $85.38 and has pushed through the 61.8% Fibonacci retracement at $95.48. The Moving Average Convergence Divergence (MACD) is in positive territory with the line still elevated, while the Relative Strength Index (RSI) hovers near 69, hinting at strong but increasingly stretched upside momentum.
On the topside, initial resistance is seen at the 78.6% Fibo. retracement at $103.23, followed by the cycle high level near $113.11. Meanwhile, the reclaimed 61.8% retracement at $95.48 forms the first key support, ahead of a broader demand band around the 50% retracement at $90.04 and the 100-day SMA near $85.38, with deeper support levels aligning at $84.59, $77.86, and the structural low at $66.97.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
WTI daily chart
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
- US Dollar Index strengthens as markets price in an 87% probability of a quarter-point rate hike following strong inflation data.
- The Swiss Franc struggles due to potential for US-Swiss interest rate gap widening.
- Yen carry-trade shifts increase selling pressure on the Swiss franc while the SNB's unchanged 0% rate.
USD/CHF extends its winning streak for the fourth consecutive day, trading around 0.8180 during Asian hours on Monday. The pair appreciates as the US Dollar (USD) gains support amid aggressive Federal Reserve (Fed) rate-hike bets for Wednesday’s decision following hotter US inflation reports. Financial markets have priced in nearly an 87% probability of a quarter-point rate hike at the Fed's September meeting, up from 59% a week ago, according to the CME FedWatch tool.
The US Consumer Price Index (CPI) accelerated in August, reinforcing expectations that the US central bank will raise interest rates next week. Data released by the Bureau of Labor Statistics on Friday showed that the US CPI rose 0.4% MoM in August, putting the 12-month increase at 3.4%. Both readings came in line with market expectations. Meanwhile, the core CPI, which excludes volatile food and energy prices, increased by 0.3% on a monthly basis, versus 0.2% prior, beating the forecast of 0.2%.
Moreover, the USD/CHF pair depreciates as the Swiss Franc (CHF) struggles amid a potentially widening interest rate differential with the United States (US), ahead of the Federal Reserve's policy decision later this week.
Meanwhile, the Swiss Franc faces selling pressure stemming from a new wave of yen-carry-trades. A hawkish sentiment from the Bank of Japan (BoJ) and joint yen-buying interventions by Washington and Tokyo have reduced the appeal of the Japanese Yen as a funding currency, pushing traders to shift their positions to alternative safe-haven currencies like the CHF.
This sudden swing creates downward pressure on the Swiss Franc as investors sell their franc-funded loans to buy higher-yielding assets elsewhere. Meanwhile, contrasting with the policies of other major global central banks, the Swiss National Bank (SNB) is widely expected to leave its key policy rate unchanged at 0% through year-end, maintaining the lowest rate among major economies.
USD/CHF upside momentum builds as range top comes into focus
Strategists at UOB Group note that their previously neutral stance on USD/CHF is starting to tilt higher as the pair tests the top of its recent range. They recall that on September 7, with the spot at 0.8100, they had highlighted that “for the time being, we expect USD to trade in a range between 0.8055 and 0.8155.” By September 10, with spot still around 0.8100, this was refined to “we continue to expect range-trading, but a narrower range of 0.8060/0.8135 is likely enough to contain the price movements in USD for now.”
However, UOB points out that USD/CHF subsequently “rose to a high of 0.8147,” and that “upward momentum is starting to build.” In their one-to-three-week view, they now judge that “if USD breaks and closes above 0.8155, it could continue to rise toward 0.8175.” They add that “the odds of USD breaking clearly above 0.8155 will remain intact as long as USD holds above the ‘strong support’ level, now at 0.8085.”
Swiss Franc Price Today
The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the weakest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.30% | 0.17% | 0.32% | 0.03% | 0.32% | 0.55% | 0.30% | |
| EUR | -0.30% | -0.11% | -0.02% | -0.27% | 0.00% | 0.26% | -0.01% | |
| GBP | -0.17% | 0.11% | 0.08% | -0.14% | 0.12% | 0.35% | 0.04% | |
| JPY | -0.32% | 0.02% | -0.08% | -0.29% | 0.02% | 0.23% | -0.06% | |
| CAD | -0.03% | 0.27% | 0.14% | 0.29% | 0.28% | 0.50% | 0.21% | |
| AUD | -0.32% | -0.01% | -0.12% | -0.02% | -0.28% | 0.24% | -0.09% | |
| NZD | -0.55% | -0.26% | -0.35% | -0.23% | -0.50% | -0.24% | -0.33% | |
| CHF | -0.30% | 0.00% | -0.04% | 0.06% | -0.21% | 0.09% | 0.33% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Swiss Franc from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CHF (base)/USD (quote).
- AUD/JPY flatlines around 110.10 in Monday’s early European session.
- BoJ is expected to raise its policy interest rate to 1.25% at its September meeting on Friday.
- Negative outlook for the cross prevails below the 100-day SMA; a temporary recovery cannot be ruled out amid oversold RSI.
- The first downside target to watch is 109.70; the immediate resistance level is located at 111.63.
The AUD/JPY cross trades on a flat note near 110.10 during the early European trading hours on Monday. The Japanese Yen (JPY) gains ground against the Australian Dollar (AUD) amid growing expectations that the Bank of Japan (BoJ) will raise its policy interest rate to 1.25% on Thursday, the highest level in about 31 years.
With underlying inflation approaching the BoJ’s 2% target, the Japanese central bank is set to hike its policy rate at the September policy meeting to respond to upside risks to prices. The last time the BoJ policy interest rate stood at 1.25% was in April 1995.
"A 25 bps hike is already almost fully priced," said MUFG analysts. ”For the yen to strengthen further, the BOJ will have to signal that they are planning to stick to the faster pace of hikes,” they added.
Traders will closely monitor any hints from BoJ Governor Kazuo Ueda’s press conference briefing on the pace of future rate hikes and how far the central bank could take rates under the current tightening cycle.
On the Aussie front, markets are now pricing in nearly a 76% chance that the Reserve Bank of Australia (RBA) will raise the Official Cash Rate (OCR) to 4.60% at the next RBA Board meeting, according to RBA Rate Tracker.
Yen steadies as Japan pushes back on US policy pressure
Analysts at Scotiabank highlight that Japanese officials at the Ministry of Finance have firmly resisted recent US attempts to steer Japan’s macro policy stance, noting that Finance Minister Katayama went so far as to describe Treasury Secretary Bessents’ remarks as “a bit scary.” This pushback, Scotiabank suggests, underscores the authorities’ determination to retain policy autonomy even as external criticism intensifies.
Technical Analysis: AUD/JPY remains capped under the 100-day SMA amid oversold RSI
In the daily chart, AUD/JPY remains under clear bearish pressure as price holds well below the 20-period Bollinger middle band and the 100-day moving average (MA), keeping the broader trend capped. The Relative Strength Index (14) has slipped to around 29, edging into oversold territory, which hints that while downside bias dominates, selling momentum may be stretched in the near term.
On the downside, immediate support is situated near the 20-period Bollinger lower band at 109.70, where bears could pause or book profits. Further south, the next contention level is seen at the August 3 low of 109.24, followed by the March 31 low of 108.79.
On the topside, initial resistance comes at the August 10 low of 111.63, en route to the Bollinger middle band at 112.80, followed by the 100-day MA at 113.00. A decisive break above this level could pave the way to the Bollinger upper band around 115.90.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Japanese Yen FAQs
The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.
Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.
The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
- Gold kicks off the new week on a subdued note as traders seem hesitant ahead of central bank events.
- Rising Fed rate-hike bets and geopolitical risks boost the USD, capping the upside for the precious metal.
- The lack of any meaningful selling warrants some caution for bears before positioning for deeper losses.
Gold (XAU/USD) struggles to capitalize on Friday's modest bounce from sub-$4,300 levels and oscillates in a narrow band at the start of a new week as traders await key central bank events before placing fresh directional bets. The US Federal Reserve (Fed), the Bank of England (BoE) and the Bank of Japan (BoJ) are scheduled to announce their decisions on Wednesday, Thursday and Friday, respectively. In the meantime, growing acceptance that central banks might stick to a more hawkish stance, amid inflation risks stemming from higher energy prices, continues to undermine the non-yielding bullion.
In fact, crude oil prices remain near the highest level since May 21, touched on Friday, amid Middle East jitters and clashes in the Strait of Hormuz. In the latest developments, Iran-backed Houthi fighters in Yemen said that they used drones and missiles to attack a military base in southern Saudi Arabia. Moreover, a planned regional meeting between Gulf states and Iran regarding the Strait of Hormuz has been postponed, keeping the geopolitical risk premium in play and supporting oil prices. This comes on top of hot US inflation figures, released last week, which raised bets that the Fed will raise interest rates.
According to CME Group's FedWatch Tool, traders are currently pricing in over an 85% chance that the US central bank would raise borrowing costs at the end of a two-day meeting on Wednesday. The bets were lifted by the US Producer Price Index (PPI) and Consumer Price Index (CPI) reports last week, which indicated persistence in wholesale and consumer inflation in August. This, along with persistent geopolitical uncertainties, lifts the safe-haven US Dollar (USD) back to a one-week high set on Friday, which, in turn, suggests that the path of least resistance for the XAU/USD pair remains to the downside.
Meanwhile, US President Donald Trump ramped up pressure on the Fed to keep rates unchanged or even lower them, saying that no country should have lower interest rates than the US. This, in turn, is holding back traders from placing aggressive bearish bets on the precious metal. Hence, it will be prudent to wait for some follow-through selling and acceptance below the $4,300 mark before positioning for any meaningful downside for the Gold price. The aforementioned fundamental backdrop, however, suggests that any attempted recovery might still be seen as a selling opportunity and is more likely to be capped.
XAU/USD 4-hour chart
Technical Analysis
Against the backdrop of the recent failure to find acceptance above the 100-period Simple Moving Average (SMA) on the 4-hour chart, last week's breakdown below the 200-SMA was seen as a key trigger for XAU/USD bears. Moreover, the Moving Average Convergence Divergence (MACD) indicator stays marginally negative, and the Relative Strength Index (RSI) around 41.33 hints at subdued, slightly bearish momentum rather than oversold conditions.
However, some follow-through selling below the 50.0% retracement level of the July-August upswing, near $4,327, is needed to back the case for deeper losses to the 61.8% retracement around $4,241 and the 78.6% retracement near $4,118. The commodity could eventually drop to the broader structural floor around the $3,961 cycle low.
On the topside, initial resistance is located at the 200-period SMA near $4,383, followed by the 38.2% Fibonacci retracement at $4,414. A sustained break above these levels would open the path toward the 100-period SMA around $4,472 and then the 23.6% retracement at $4,521, with the prior cycle high near $4,694 coming into focus only on a stronger recovery.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.26% | 0.13% | 0.31% | 0.02% | 0.30% | 0.51% | 0.28% | |
| EUR | -0.26% | -0.10% | 0.02% | -0.24% | 0.02% | 0.28% | 0.01% | |
| GBP | -0.13% | 0.10% | 0.12% | -0.14% | 0.15% | 0.37% | 0.05% | |
| JPY | -0.31% | -0.02% | -0.12% | -0.28% | 0.01% | 0.21% | -0.07% | |
| CAD | -0.02% | 0.24% | 0.14% | 0.28% | 0.26% | 0.47% | 0.19% | |
| AUD | -0.30% | -0.02% | -0.15% | -0.01% | -0.26% | 0.22% | -0.11% | |
| NZD | -0.51% | -0.28% | -0.37% | -0.21% | -0.47% | -0.22% | -0.31% | |
| CHF | -0.28% | -0.01% | -0.05% | 0.07% | -0.19% | 0.11% | 0.31% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
- EUR/USD slumps to near 1.1565 on fresh acceleration in hawkish Fed expectations.
- Faster growth in the US monthly CPI data for August prompts Fed interest rate hike expectations.
- The ECB didn’t deliver any remarks on outlook of the monetary policy at the policy meeting last week.
The Euro (EUR) is down 0.28% to near 1.1565 against the US Dollar (USD) during the European trading session on Monday. The major currency pair comes under pressure as traders have raised hawkish Federal Reserve (Fed) after the release of the sticky United States (US) Consumer Price Index (CPI) data for August.
The CPI report showed on Friday that the headlines inflation remained sticky at 3.4% Year-on-Year (YoY), as expected. The core CPI – which excludes volatile food and energy items – cooled down to 2.4% from 2.5% in July.
Month-on-month headline CPI grew at a faster pace of 0.4%, as expected, against the previous reading of 0.1%. The core CPI also rose faster by 0.3% than expectations and the prior release of 0.2%.
A faster growth in monthly inflation data has prompted hawkish Federal Reserve (Fed) interest rate expectations further for the September policy meeting. Hawkish Fed bets also increased last week after the release of the hotter-than-expected US Producer Price Index (PPI) growth for August.
On the Euro front, the European Central Bank (ECB) hiked policy rates last week, as expected, but didn’t deliver any meaningful comments regarding the interest rate outlook.
"Discussion was focused on today's decision, did not debate future rate path," ECB President Christine Lagarde said at the press conference. She added, “Can't anticipate what will be the next move."
EUR/USD Technical Analysis
In the daily chart, EUR/USD trades at 1.1565, retaining a mildly bearish near-term bias as it holds beneath the 20-period exponential moving average (EMA) at 1.1602. The pair has slipped back under this short-term trend benchmark, suggesting topside attempts are increasingly capped, while the Relative Strength Index (RSI) at 45 leans toward a loss of bullish momentum rather than outright oversold conditions.
On the topside, initial resistance is defined by the 20-period EMA at 1.1602, and a daily close above this level would be needed to ease the current pressure and reopen the path toward higher highs. Looking down, the pair could be exposed to the psychologocal level of 1.1500 if it fails to hold the immediate support of 1.1560.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Fed FAQs
Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback.
The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.
In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar.
Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.
Gold prices fell in India on Monday, according to data compiled by FXStreet.
The price for Gold stood at 13,283.12 Indian Rupees (INR) per gram, down compared with the INR 13,340.14 it cost on Friday.
The price for Gold decreased to INR 154,929.40 per tola from INR 155,596.70 per tola on friday.
Unit measure | Gold Price in INR |
|---|---|
1 Gram | 13,283.12 |
10 Grams | 132,829.50 |
Tola | 154,929.40 |
Troy Ounce | 413,153.00 |
FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
- EUR/JPY may test support at its descending channel's lower boundary near 177.70.
- The 14-day Relative Strength Index of 26.98 indicates oversold conditions.
- The initial barrier lies at the nine-day EMA of 180.00.
EUR/JPY gains ground after registering losses in the previous day, trading around 178.30 during Asian hours on Monday. Technical analysis of the daily chart indicates the currency cross remains within the descending channel pattern, signalling an ongoing bearish bias.
The EUR/JPY cross is retaining a bearish near-term bias as spot holds beneath both the nine- and 50-period Exponential Moving Averages (EMAs). The Moving Average Convergence Divergence is not available, but the 14-day Relative Strength Index (RSI) at 26.98 sits in oversold territory, hinting that while downside pressure dominates, the sell-off could start to lose momentum if buyers attempt to defend nearby structural levels.
The EUR/JPY cross may test its immediate support at the lower boundary of the descending channel around 177.70. A break below the channel would strengthen the bearish bias and put downward pressure on the cross as it navigates the region around the 10-month low of 175.70, recorded in November 2025.
On the upside, the EUR/JPY cross could approach the nine-day EMA of 180.00, followed by the 50-day EMA of 183.33. Further resistance lies at the upper boundary of the descending channel around 185.50, followed by the all-time high of 187.95 set on April 17.
Analysts at Scotiabank highlight that Japanese officials at the Ministry of Finance have firmly resisted recent US attempts to steer Japan’s macro policy stance, noting that Finance Minister Katayama went so far as to describe Treasury Secretary Bessents’ remarks as “a bit scary.” This pushback, Scotiabank suggests, reinforces the authorities’ resolve and adds to the backdrop of “persistent hawkish rhetoric” that has supported the Yen into next week’s BoJ meeting.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.25% | 0.13% | 0.31% | 0.01% | 0.30% | 0.50% | 0.27% | |
| EUR | -0.25% | -0.08% | 0.02% | -0.26% | 0.05% | 0.29% | 0.02% | |
| GBP | -0.13% | 0.08% | 0.10% | -0.14% | 0.15% | 0.38% | 0.05% | |
| JPY | -0.31% | -0.02% | -0.10% | -0.28% | 0.03% | 0.22% | -0.06% | |
| CAD | -0.01% | 0.26% | 0.14% | 0.28% | 0.28% | 0.49% | 0.19% | |
| AUD | -0.30% | -0.05% | -0.15% | -0.03% | -0.28% | 0.23% | -0.12% | |
| NZD | -0.50% | -0.29% | -0.38% | -0.22% | -0.49% | -0.23% | -0.33% | |
| CHF | -0.27% | -0.02% | -0.05% | 0.06% | -0.19% | 0.12% | 0.33% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
- US Dollar Index strengthens as markets price in an 87% probability of a quarter-point rate hike following strong inflation data.
- August consumer price index data showed a 0.4% monthly increase, lifting the 12-month rate to 3.4%.
- Core CPI rose 0.3% monthly, surpassing the anticipated 0.2% forecast and bolstering the US Dollar.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground for the third consecutive day and trading around 99.30 during Asian hours on Monday.
The Greenback gains support amid aggressive Federal Reserve (Fed) rate-hike bets for Wednesday’s decision following hotter US inflation reports. Financial markets have priced in nearly an 87% probability of a quarter-point rate hike at the Fed's September meeting, up from 59% a week ago, according to the CME FedWatch tool.
The US Consumer Price Index (CPI) accelerated in August, reinforcing expectations that the US central bank will raise interest rates next week. Data released by the Bureau of Labor Statistics on Friday showed that the US CPI rose 0.4% MoM in August, putting the 12-month increase at 3.4%. Both readings came in line with market expectations. Meanwhile, the core CPI, which excludes volatile food and energy prices, increased by 0.3% on a monthly basis, versus 0.2% prior, beating the forecast of 0.2%.
Technical Analysis:
In the daily chart, Dollar Index Spot trades at 99.30, retaining a bearish near-term bias as it holds below the longer-term 50-day Exponential Moving Average (EMA) while only marginally above the short-term nine-day EMA at 99.12. This configuration suggests the broader trend remains under pressure, with recent price action still capped by overhead supply. The 14-day Relative Strength Index (RSI) at 48.04 sits just under the neutral 50 line, hinting at subdued momentum rather than a strong directional impulse.
On the topside, initial resistance is located at the 50-day EMA at 99.63, and a sustained break above this level would be needed to ease the prevailing bearish tone. On the downside, immediate support emerges at the nine-day EMA at 99.12; a daily close beneath this short-term average would reinforce the downside bias and open the door to further weakness in the Dollar Index Spot.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
US Dollar FAQs
The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.
The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.
In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar.
Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
- AUD/USD kicks off the new week on a weak note as Middle East jitters and Fed hike bets lift the USD.
- Hawkish RBA expectations offer some support to the Aussie and help limit deeper losses for the pair.
- The bearish technical setup suggests that the path of least resistance for spot prices is to the downside.
The AUD/USD pair touches a one-and-a-half-week low, around the 0.7140 region during the Asian session on Monday, though it lacks follow-through. Spot prices currently trade just above mid-0.7100s, down nearly 0.25% for the day.
The US inflation figures, released last week, reaffirmed market bets for an imminent interest rate hike by the US Federal Reserve (Fed) later this week. Apart from this, rising geopolitical tensions stemming from the US-Iran standoff and clashes in the Strait of Hormuz underpin the safe-haven US Dollar (USD), which, in turn, is seen weighing on the AUD/USD pair. However, hawkish Reserve Bank of Australia (RBA) expectations help limit the downside for the Aussie.
From a technical perspective, last week's breakdown below the 100-period Simple Moving Average (SMA) on the 4-hour chart was seen as a key trigger for AUD/USD bears. The subsequent fall, however, showed some resilience below the 23.6% Fibonacci retracement at 0.7150, warranting some caution before positioning for further losses as the Relative Strength Index (RSI) near 30 hints at oversold conditions that could slow the downside rather than trigger an immediate reversal.
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator stays negative, reinforcing fading momentum in the latest slide. Hence, acceptance below the 23.6% retracement should pave the way for a deeper fall to the 38.2% Fibo. at 0.7095 and the 50% retracement at 0.7051. The said levels mark progressively stronger demand zones if selling resumes.
On the topside, immediate resistance emerges at the 100-period SMA at 0.7179, with a subsequent barrier at the recent cycle high near 0.7239. Only a sustained break above this upper band would ease the current bearish tone.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
AUD/USD 4-hour chart
US Dollar Price Last 7 Days
The table below shows the percentage change of US Dollar (USD) against listed major currencies last 7 days. US Dollar was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.32% | 0.07% | -1.22% | 0.29% | 0.65% | 1.59% | 1.09% | |
| EUR | -0.32% | -0.25% | -1.50% | -0.02% | 0.36% | 1.30% | 0.77% | |
| GBP | -0.07% | 0.25% | -1.37% | 0.22% | 0.58% | 1.55% | 1.02% | |
| JPY | 1.22% | 1.50% | 1.37% | 1.59% | 1.94% | 2.89% | 2.36% | |
| CAD | -0.29% | 0.02% | -0.22% | -1.59% | 0.41% | 1.32% | 0.79% | |
| AUD | -0.65% | -0.36% | -0.58% | -1.94% | -0.41% | 0.94% | 0.42% | |
| NZD | -1.59% | -1.30% | -1.55% | -2.89% | -1.32% | -0.94% | -0.52% | |
| CHF | -1.09% | -0.77% | -1.02% | -2.36% | -0.79% | -0.42% | 0.52% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
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