Forex News
Gold prices fell in India on Tuesday, according to data compiled by FXStreet.
The price for Gold stood at 13,537.60 Indian Rupees (INR) per gram, down compared with the INR 13,588.41 it cost on Monday.
The price for Gold decreased to INR 157,899.40 per tola from INR 158,492.50 per tola a day earlier.
Unit measure | Gold Price in INR |
|---|---|
1 Gram | 13,537.60 |
10 Grams | 135,375.50 |
Tola | 157,899.40 |
Troy Ounce | 421,078.60 |
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.)
- USD/JPY gains ground to near 159.85 in Tuesday’s early European session.
- Japan’s 10-Year bond yield reaches 3% for the first time since 1996.
- Bessent expects the BoJ to take action to boost the Japanese Yen.
The USD/JPY pair edges higher to around 159.85 during the early European trading hours on Tuesday. Japan’s 10-Year bond yield hit 3% for the first time in three decades after US Treasury Secretary Scott Bessent signaled that the United States (US) wants the Bank of Japan (BoJ) to raise interest rates more aggressively.
Bessent said on Tuesday he believes the Japanese government and central bank will take action that leads to a stronger Japanese Yen (JPY), per CNBC. However, the JPY remains weak against the US Dollar (USD) despite Bessent’s comments.
Japanese Finance Minister Satsuki Katayama said that she met with Bessent and agreed that orderly JPY movement is critical for global market stability. The US and Japan also confirmed that continued and cooperative measures would contribute to this common goal.
Yen focus stays on BoJ as US officials urge Ueda to ‘do the right thing’
Strategists at Scotiabank note that the “outlook for relative central bank policy remains front and center into the BoJ’s September 18 decision,” with attention increasingly drawn to international commentary on the Bank of Japan’s next move. They highlight media reports that US Secretary Bessent expects Governor Ueda “to do the right thing,” underscoring the external pressure surrounding the meeting. Scotiabank also points out that Board member Takata is scheduled to speak later this week, an appearance that could help shape expectations ahead of the September policy decision.
Technical Analysis: USD/JPY remains capped under the 100-day SMA
In the daily chart, USD/JPY holds a capped tone as it sits under the 100-day moving average (MA) and the upper Bollinger band. Price remains above the 20-day Bollinger middle band, suggesting underlying demand, while the Relative Strength Index (RSI) at 50.75 leans slightly positive but does not yet point to strong directional conviction.
On the topside, immediate resistance is located at the 100-day MA at 160.00, followed by the upper Bollinger band around 160.35, where renewed selling pressure could emerge. On the downside, initial support aligns with the 20-day Bollinger middle band at 159.15, ahead of a deeper cushion at the lower Bollinger band near 157.90, where buyers would be expected to defend the broader uptrend.
(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.
- EUR/USD attracts some sellers on Tuesday as rising Fed rate hike bets help revive USD demand.
- Escalating US-Iran tensions further benefit the safe-haven buck and exert pressure on the pair.
- Traders now look to the Eurozone HICP report for a fresh impetus ahead of the US macro data.
The EUR/USD pair struggles to capitalize on the overnight bounce from the 100-day Simple Moving Average (SMA), near the 1.1575-1.1580 region, or a one-and-a-half-week low, and drifts lower during the Asian session on Tuesday. Spot prices currently trade around the 1.1600 mark, down nearly 0.10% for the day, amid modest US Dollar (USD) strength as traders now look to the preliminary reading of the Eurozone Harmonized Index of Consumer Prices (HICP).
Economists expect Eurozone inflation to move higher in August amid elevated energy prices, making a September rate increase by the European Central Bank (ECB) all but certain. The expectations were lifted by the German Consumer Price Index (CPI) inflation data, which rose to 2.9% YoY in August from 2.8% in the previous month. Moreover, ECB executive board member Isabel Schnabel has made a clear case for another rate increase, suggesting that the immediate market reaction to the report is more likely to be muted.
Later during the North American session, traders will take cues from the US economic docket – featuring the ISM Manufacturing PMI and JOLTS Job Openings data. In the meantime, US Federal Reserve (Fed) Chair Kevin Warsh's comments last Friday lifted market bets for an imminent interest rate hike, which, along with geopolitical uncertainties, help revive demand for the safe-haven USD following the previous day's modest decline. This, in turn, is seen as a key factor exerting some downward pressure on the EUR/USD pair.
However, USD bulls might refrain from placing aggressive bets and opt to wait for the crucial US monthly employment details, popularly known as the Nonfarm Payrolls (NFP) report on Friday. Nevertheless, the fundamental backdrop might continue to act as a tailwind for the Greenback, suggesting that any intraday move up in the EUR/USD pair is more likely to be sold into.
EUR/USD daily chart
Technical Analysis
Against the backdrop of the recent failure to find acceptance above the 50% Fibonacci retracement level of the January-June fall, a break below the 100-day Simple Moving Average (SMA) will be seen as a key trigger for EUR/USD bears. Spot prices might then decline to the 23.6% Fibo. retracement at 1.1501. A deeper slide would expose the broader structural floor at the Fibonacci cycle low near 1.1323.
On the topside, the 38.2% Fibo. retracement at 1.1611 is acting as immediate overhead resistance. A daily close above the said barrier would be needed to ease immediate downside pressure and open the way toward the 1.1700 and 1.1789 retracement barriers.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Economic Indicator
Core Harmonized Index of Consumer Prices (YoY)
The Core Harmonized Index of Consumer Prices (HICP) measures changes in the prices of a representative basket of goods and services in the European Monetary Union. The HICP, – released by Eurostat on a monthly basis, is harmonized because the same methodology is used across all member states and their contribution is weighted. The YoY reading compares prices in the reference month to a year earlier. Core HICP excludes volatile components like food, energy, alcohol, and tobacco. The Core HICP is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as bullish for the Euro (EUR), while a low reading is seen as bearish.
Read more.Next release: Tue Sep 01, 2026 09:00 (Prel)
Frequency: Monthly
Consensus: 2.5%
Previous: 2.5%
Source: Eurostat
- AUD/JPY gathers strength to around 114.60 in Tuesday’s early European session.
- The cross maintains a constructive tone above the 100-day SMA, with bullish RSI momentum.
- The first upside barrier emerges at 114.96; the initial support level is seen in the 113.25-113.20 region.
The AUD/JPY cross trades in a positive territory near 114.60 during the early European session on Tuesday. Stronger-than-expected Chinese economic data provides some support to the China-proxy Australian Dollar (AUD) against the Japanese Yen (JPY).
Data released by RatingDog on Tuesday showed that China’s Manufacturing Purchasing Managers' Index (PMI) jumped to 51.5 in August from 50.9 in July. This figure came in above the market consensus of 50.9.
On Japan’s front, markets are now pricing in nearly a 73% probability of a hike from the Bank of Japan (BoJ) later this month, but analysts suggest there needs to be a much stronger follow-through by the central bank.
"For the yen, a September BOJ hike is already heavily anticipated," said Charu Chanana, chief investment strategist at Saxo.
Yen support tempered as BoJ struggles to out-hawk market pricing
OCBC FX strategists Sim Moh Siong and Christopher Wong note that the Japanese Yen has already drawn substantial support from “aggressive market pricing for Bank of Japan (BoJ) tightening,” with an implied “85% chance of a September hike.” They point out that “a September move would break from the BoJ's pattern in the current tightening cycle, where rate increases have typically come about every six months,” given that “the last hike was delivered in June.” However, they caution that “it will be difficult for the BoJ to out-hawk market expectations,” arguing that further JPY gains may increasingly depend on additional policy tools beyond rate increases, including measures to encourage repatriation of overseas assets, as the BoJ faces constraints on how far and how fast it can raise rates.
Technical Analysis: AUD/JPY
In the daily chart, AUD/JPY maintains a bullish near-term bias as price holds firmly above the 100-day moving average (MA) and the Bollinger Bands’ 20-period simple moving average, suggesting underlying demand after the recent advance. The Relative Strength Index (14) at 63.92 leans toward bullish momentum without yet signaling extreme overbought conditions, hinting that upside pressure could persist while these supports remain intact.
On the topside, immediate resistance emerges at the August 28 high of 114.96. The next hurdle is seen at the Bollinger upper band near 115.30, where buying interest could start to fade and encourage consolidation.
On the downside, critical support level is located in the 113.25-113.20 zone, creating a tight demand zone. The next contention level to watch is the August 20 low of 112.52. A deeper pullback would expose the lower Bollinger band around 111.05.
(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.
Forex Market News
Our dedicated focus on forex news and insights empowers you to capitalise on investment opportunities in the dynamic FX market. The forex landscape is ever-evolving, characterised by continuous exchange rate fluctuations shaped by vast influential factors. From economic data releases to geopolitical developments, these events can sway market sentiment and drive substantial movements in currency valuations.
At Rakuten Securities Hong Kong, we prioritise delivering timely and accurate forex news updates sourced from reputable platforms like FXStreet. This ensures you stay informed about crucial market developments, enabling informed decision-making and proactive strategy adjustments. Whether you’re monitoring forex forecasts, analysing trading perspectives, or seeking to capitalise on emerging trends, our comprehensive approach equips you with the insights needed to navigate the FX market effectively.
Stay ahead with our comprehensive forex news coverage, designed to keep you informed and prepared to seize profitable opportunities in the dynamic world of forex trading.
