Forex News
- Silver price may rise toward the 50-day EMA at $74.55.
- The 14-day Relative Strength Index at 45.05 sits below the midline, indicating subdued upside momentum.
- XAG/USD may find immediate support at the nine-day EMA of $69.16.
XAG/USD extends its gains for the third consecutive day, trading around $70.30 per troy ounce during the Asian hours on Monday. The technical analysis of the daily chart shows that the spot price is breaking above the falling wedge pattern, suggesting a potential bullish reversal.
The XAG/USD pair is keeping a bearish near-term tone as it holds below the 50-day Exponential Moving Average (EMA) while clinging to initial support from the nine-day EMA. The 14-day Relative Strength Index (RSI) at 45.05 sits below the midline, hinting at subdued upside momentum and suggesting that rebounds may struggle while price remains capped under the medium-term EMA.
However, the Silver price may find its initial barrier at the 50-day EMA of $74.55. A break above the medium-term average would strengthen the bullish bias and support the XAG/USD pair to explore the area around the three-month high of $90.03, reached on March 10.
On the downside, the immediate support lies at the nine-day EMA of $69.16. A pullback within the falling wedge would put downward pressure on the Silver price to navigate the region around the lower boundary at $61.80, followed by the six-month low of $61.01, recorded on March 23.
(The technical analysis of this story was written with the help of an AI tool.)
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Chris Turner at ING says the Euro’s focus this week is on European Central Bank communication after last week’s rate hike, with markets assigning only a small probability to another move in July. He notes the EUR/USD advance has been underwhelming and suggests the pair does not necessarily need to trade above 1.1650 in current conditions.
ECB communication and EUR/USD levels watched
"Following last week's ECB rate hike, the focus this week will be on whether and when it needs to follow up with a second."
"Presumably, the ECB will want to keep all its options open, but it finds itself in a more comfortable position now that the market prices only a 16% chance of a rate hike in July."
"The EUR/USD rally has been less than impressive so far, and it is not clear that it needs to trade above 1.1650 today."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Brown Brothers Harriman expects the Reserve Bank of Australia to pause at 4.35% after three consecutive hikes and to remain data-dependent. With soft Q1 GDP, weak labour data and subdued sentiment, they would fade market pricing for another hike this year and note that Australia–US 2‑year yield spreads suggest AUD/USD could undershoot 0.7000 in the near term.
RBA pause weighs on Australian Dollar
"The RBA is widely expected to keep the policy rate at 4.35% (Tuesday), after delivering three consecutive 25bps hikes since February. The RBA signaled it is now in a data-dependent pause as it assesses how Australian households and businesses respond to this year’s tightening."
"RBA cash rate futures imply 60% odds of one final 25bps hike by year end to 4.60%. We would fade the risk of another hike this year. Real Q1 GDP pointed to sluggish underlying demand activity and the April labor force report was poor."
"Bottom line: Australia-US 2-year bond yield spreads suggests AUD/USD can undershoot 0.7000 in the near-term."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Brown Brothers Harriman’s Elias Haddad notes that the Dollar has given back some post-payroll gains as optimism over a US-Iran breakthrough weighed on Brent Oil, but the bank still expects USD to edge higher near term. They argue resilient US economic activity and a likely hawkish Fed hold should underpin USD despite easing geopolitical fears.
Hawkish Fed stance underpins Dollar
"USD trimmed some of its post-payroll gains last week as optimism over a US-Iran breakthrough sent Brent crude oil prices tumbling to a three-month low. We are sticking to our view that USD can edge higher in the near-term. Resilient US economic activity in both absolute and relative terms outweigh the drag to USD from easing geopolitical fears."
"The center of gravity on the FOMC has shifted from an easing to a neutral bias as US labor demand has improved and inflation has moved up. As such, the focus will be on the degree of hawkishness and whether it validates Fed funds futures pricing for a 25bps hike by year end or leans against it. The clearest signal will come from the dot plot, which is expected to shift from implying a 25bps cut in 2026 to a median projection consistent with a 25bps hike."
"Bottom line: a hawkish Fed hold should support USD, but Warsh risks spoiling the dollar bull party. Check out our report here to see what a Kevin Warsh-led Fed means for markets beyond this week’s decision."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
- USD/IDR falls as easing risk aversion and a US-Iran peace deal cause the US Dollar to weaken.
- US Dollar holds losses on fading safe-haven demand following the US-Iran peace deal.
- The Indonesian Rupiah gains as traders wager that Bank Indonesia would maintain its hawkish tightening bias in June.
USD/IDR extends its losses for the second successive day, trading around 17,730 during the Asian hours on Monday. The pair loses ground as the US Dollar (USD) depreciates on easing risk aversion following the reports that the United States (US) and Iran reached a deal to end their conflict.
The US-Iran deal, announced on Sunday, is set to take effect this Friday. As part of the agreement, US President Donald Trump stated that the United States will lift its naval blockade on Iranian ports, allowing the critical Strait of Hormuz to reopen. In a coordinated response, the United Kingdom, France, Germany, and Italy announced they are prepared to lift sanctions on Iran following steps taken regarding its nuclear program.
The Greenback struggles as the US-Iran peace agreement eases concerns about inflation and higher interest rates. Market expectations for monetary policy have shifted dramatically. The CME FedWatch tool now indicates a nearly 47% probability that the Federal Reserve (Fed) will hold interest rates unchanged in December, a sharp increase from the 28% priced in just last week.
The Indonesian Rupiah (IDR) finds support as traders wager that Bank Indonesia (BI) will maintain its hawkish tightening bias at Thursday's meeting, following a cumulative 75 basis points of rate hikes since May. The Rupiah is also drawing sentiment from political backing; last week, Deputy House Speaker Sufmi Dasco urged citizens to sell their US dollars to help stabilize the local currency after it hit consecutive record lows.
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 weakest against the Indonesian Rupiah.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | IDR | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.78% | -0.82% | -0.13% | 0.26% | -0.71% | -1.10% | -1.79% | |
| EUR | 0.78% | -0.07% | 0.74% | 1.05% | 0.07% | -0.31% | -2.04% | |
| GBP | 0.82% | 0.07% | 0.75% | 1.12% | 0.14% | -0.25% | 0.00% | |
| JPY | 0.13% | -0.74% | -0.75% | 0.35% | -0.59% | -1.02% | -2.37% | |
| CAD | -0.26% | -1.05% | -1.12% | -0.35% | -0.90% | -1.36% | -2.53% | |
| AUD | 0.71% | -0.07% | -0.14% | 0.59% | 0.90% | -0.38% | -2.50% | |
| NZD | 1.10% | 0.31% | 0.25% | 1.02% | 1.36% | 0.38% | -1.04% | |
| IDR | 1.79% | 2.04% | 0.00% | 2.37% | 2.53% | 2.50% | 1.04% |
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).
- The US Dollar Index drops to the lower range of the 99.00s, as risk appetite improves.
- News of a US-Iran agreement to end the war has boosted market sentiment on Monday.
- DXY price action has breached the bottom of the ascending channel.
The US Dollar (USD) has opened the week on its back foot, weighed down by an improved appetite for risk, following news of a peace deal between the US and Iran. The USD Index, which measures the value of the Dollar against a basket of currencies, extended its reversal from last week’s highs and has hit a fresh 10-day low of 99.30 so far.
Investors have welcomed a memorandum of understanding between Washington and Tehran that would end the 100-day war and reopen the Strait of Hormuz. Details about the agreement are scarce so far, but the market has reacted with moderate optimism, sending Treasury yields and the USD lower, amid higher demand for risk assets.
Technical Analysis: DXY breaks below the channel top
The Dollar Index trades around 99.50 at the time of writing, keeping a bearish near-term tone after breaking the lower boundary of its upward-sloping channel. Momentum indicators endorse the negative view with the 4-hour Relative Strength Index (RSI) drifting below 40 and the Moving Average Convergence Divergence (MACD) in negative territory, together suggesting a weakening bullish momentum.
Bears remain contained above session lows at 99.38 so far, which closes the path towards the June 4 and 5 lows near 99.15 and the late-May lows at 98.75.
On the topside, the confluence of the broken channel bottom with a previous support area, around 99.65 (June 9, 11, and 12 lows), is likely to pose a significant challenge to upside attempts. A successful move above this area exposes the 100.00 psychological level and the June 11 high, near 100.30.
(The technical analysis of this story was written with the help of an AI tool.)
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 Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.32% | -0.25% | -0.06% | -0.12% | -0.39% | -0.27% | -0.38% | |
| EUR | 0.32% | 0.07% | 0.28% | 0.24% | -0.08% | 0.06% | -0.07% | |
| GBP | 0.25% | -0.07% | 0.22% | 0.15% | -0.16% | 0.01% | -0.14% | |
| JPY | 0.06% | -0.28% | -0.22% | -0.04% | -0.34% | -0.23% | -0.34% | |
| CAD | 0.12% | -0.24% | -0.15% | 0.04% | -0.28% | -0.18% | -0.30% | |
| AUD | 0.39% | 0.08% | 0.16% | 0.34% | 0.28% | 0.15% | 0.04% | |
| NZD | 0.27% | -0.06% | -0.01% | 0.23% | 0.18% | -0.15% | -0.14% | |
| CHF | 0.38% | 0.07% | 0.14% | 0.34% | 0.30% | -0.04% | 0.14% |
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).
- USD/CAD loses ground to near 1.3975 in Monday’s early European session.
- The pair holds bullish near-term bias, but a temporary sell-off cannot be ruled out amid overbought RSI momentum.
- The first upside barrier emerges at 1.4025; the initial downside target to watch is 1.3931.
The USD/CAD pair trades in negative territory around 1.3975 during the early European trading hours on Monday. The US Dollar (USD) strengthens against the Canadian Dollar (CAD) after the US and Iran announce a peace deal to reopen the Strait of Hormuz.
US President Donald Trump on Sunday announced a “great deal” to end the war with Iran. Iran’s National Security Council stated that the US naval blockade will be lifted immediately and the war will end on all fronts, including Lebanon. Pakistan’s Prime Minister Shehbaz Sharif said that the official signing ceremony for the “peace deal” will take place on Friday in Switzerland.
The US Federal Reserve (Fed) interest rate decision will be the highlight later on Wednesday. The Fed is expected to leave its benchmark interest rate unchanged at a target range of 3.50% to 3.75%. Markets are now pricing in nearly a 64% odds of a US central bank interest rate hike in December this year after the peace deal, down from 69% last week, according to the CME FedWatch tool.
Technical Analysis:
In the daily chart, USD/CAD maintains a bullish near-term bias as spot holds well above the 100-day simple moving average (SMA) and the Bollinger middle band, suggesting a firm underlying bid despite stretched conditions. The Bollinger upper band near caps the immediate topside, while the Relative Strength Index (14) hovering above 70 hints at overbought momentum and the risk of a corrective pause rather than a clean continuation higher.
On the topside, immediate resistance emerges at the Bollinger upper band around 1.4025, and a sustained break above this ceiling would open the door to the high of October 16 of 1.4060. The next hurdle is seen at 1.4100 psychological level. On the downside, initial support is located at the June 11 low of 1.3931, followed the Bollinger middle band near 1.3865. The next contention level to watch is the 100-day SMA at 1.3732 and the lower Bollinger band around 1.3708, where buyers would be expected to reappear on a deeper pullback.
(The technical analysis of this story was written with the help of an AI tool.)
Canadian Dollar FAQs
The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar.
The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive.
The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD.
While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar.
Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.
- USD/JPY peels off its daily gains due to the wide interest rate gap between Japan and the US.
- US Dollar weakens as a US-Iran peace deal eases fears of inflation and higher interest rates.
- The CME FedWatch tool shows the probability of a December Fed rate hold surged to 47%, up from 28% last week.
USD/JPY pares its daily gains, still remaining in the positive territory and trading around 160.10 during the Asian hours on Monday. The Japanese Yen (JPY) has found a solid foothold in the wake of the geopolitical breakthrough. The reopening of the Strait of Hormuz caused oil prices to plunge to a two-month low, significantly easing inflationary pressures and reducing crippling import costs for energy-dependent economies like Japan.
However, the JPY's upside remains capped, as the substantial interest rate gap between Japan and the United States (US) continues to provide structural support to the USD/JPY pair. The JPY may receive further domestic support as traders price in a potential Bank of Japan (BoJ) interest rate hike on Tuesday to contain local inflation.
The USD/JPY pair depreciated as the US Dollar (USD) declined following reports that the United States (US) and Iran reached a deal to end their conflict, easing concerns about inflation and higher interest rates.
Following a landmark peace agreement between the United States (US) and Iran, market expectations for monetary policy have shifted dramatically. The CME FedWatch tool now indicates a nearly 47% probability that the Federal Reserve (Fed) will hold interest rates unchanged in December, a sharp increase from the 28% priced in just last week.
The deal, announced on Sunday by Washington and Tehran, is set to take effect this Friday. As part of the agreement, US President Donald Trump stated that the United States will lift its naval blockade on Iranian ports, allowing the critical Strait of Hormuz to reopen. In a coordinated response, the United Kingdom, France, Germany, and Italy announced they are prepared to lift sanctions on Iran following steps taken regarding its nuclear program.
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.
Israel’s National Security Minister Itamar Ben Gvir said that US President Donald Trump’s agreement does not bind us. Israel is not subordinate to the US. “We are an independent and sovereign country,” the Time of Israel reported on Monday. Ben Gvir added that the country must not compromise on dismantling Hezbollah.
Key quotes
Trump’s agreement does not bind us. Israel is not subordinate to the United States. We are an independent and sovereign country.
We are not partners to this agreement, which does not safeguard our security. We must not withdraw from any territory [in Lebanon] that our fighters have captured.
Market reaction
At the time of writing, the West Texas Intermediate (WTI) is down 4.42% on the day at $79.25.
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.
India’s Wholesale Price Index (WPI) Inflation data for May arrives at 9.68% Year-on-Year (YoY), higher than 9.1% estimates and the previous reading of 8.3%.
There has been no immediate reaction by the Indian Rupee (INR) after the higher-than-projected India's WPI Inflation data release. However, it has been trading strongly since its opening against the US Dollar (USD) due to a juggernaut decline in oil prices. As of writing, USD/INR trades 0.54% lower at around 94.59, the lowest level seen in two weeks.
The table below shows the percentage change of Indian Rupee (INR) against listed major currencies today. Indian Rupee was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | INR | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.34% | -0.26% | -0.06% | -0.13% | -0.40% | -0.49% | -0.37% | |
| EUR | 0.34% | 0.08% | 0.30% | 0.24% | -0.06% | -0.01% | -0.04% | |
| GBP | 0.26% | -0.08% | 0.22% | 0.15% | -0.15% | -0.24% | -0.13% | |
| JPY | 0.06% | -0.30% | -0.22% | -0.05% | -0.35% | -0.31% | -0.35% | |
| CAD | 0.13% | -0.24% | -0.15% | 0.05% | -0.28% | -0.25% | -0.28% | |
| AUD | 0.40% | 0.06% | 0.15% | 0.35% | 0.28% | 0.03% | 0.07% | |
| INR | 0.49% | 0.01% | 0.24% | 0.31% | 0.25% | -0.03% | -0.03% | |
| CHF | 0.37% | 0.04% | 0.13% | 0.35% | 0.28% | -0.07% | 0.03% |
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 Indian Rupee from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent INR (base)/USD (quote).
What does hot India’s WPI Inflation data means for USD/INR?
Faster-than-expected growth in inflationary pressures in India at the wholesale level boosts expectations for interest rate hikes by the Reserve Bank of India (RBI) in the near term, a scenario that is favorable for the Indian Rupee.
In the monetary policy announcement on June 5, the RBI left its Repo Rate unchanged at 5.25%, but Governor Sanjay Malhotra warned that the central bank may “need to act” if high inflation due to elevated energy prices starts “generalizing”.
However, the impact of high WPI Inflation is expected to be limited now, as the announcement of the reopening of the Strait of Hormuz, a vital passage to one-fifth of global energy supply whose closure resulted in a significant surge in oil prices in the last few months, has eased crude oil prices and has anchored inflation expectations.
Technical Analysis: USD/INR falls below 20-day EMA
USD/INR trades lower at around 94.60, maintaining a bearish near-term tone as it holds beneath the 20-day exponential moving average (EMA) at 95.3423. The Moving Average Exponential (EMA) slopes slightly lower and sits overhead as immediate resistance, while the Relative Strength Index (RSI) at 42.6 hovers below the neutral 50 line, hinting at lingering downside pressure rather than a decisive oversold condition.
On the topside, initial resistance is defined by the 20-day EMA at 95.34, which would need to be reclaimed to ease the current downside bias and open the way for a more sustained recovery. On the downside, the pair could slide towards the May 7 low at 94.03 if it falls below the May 29 low at 94.46.
(The technical analysis of this story was written with the help of an AI tool.)
Economic Indicator
WPI Inflation
The WPI Inflation released by the Ministry of Commerce and Industry is a measure of price movements similar to the Consumer Price Indices (CPI). Generally, a high reading is seen as positive (or bullish) for the Rupee, while a low reading is seen as negative (or bearish).
Read more.Last release: Mon Jun 15, 2026 06:30
Frequency: Monthly
Actual: -
Consensus: 9.1%
Previous: 8.3%
Source: Office of the Economic Adviser of India
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.
