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USD/INR GAINS GROUND AHEAD OF THE FED CHAIR POWELL’S TESTIMONY
Indian Rupee edges lower amid the modest USD rebound. The RBI's cautious monetary policy approach should strengthen the Indian rupee over time.Investors await Fed Chair Powell’s testimony on Wednesday for fresh impetus. Indian Rupee (INR) trades on a weaker note on Wednesday as traders aw
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AUD/USD drops despite soft US PMI figures fueling Fed rate cuts; eyes on Aussie’s GDP and Powell testimony
Wall Street sets a downbeat tone as big tech equities fall. Softer than expected, Purchasing Managers Indices revealed by S&P Global and the ISM witnessed a tick up in the AUD/USD pair, as traders increased bets the US Federal Reserve will ease policy as soon as June. S&P Global Services PMI
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EUR/USD GRINDS TO FLAT AFTER MARKET ABSORBS US PMI MISS
EUR/USD rotates around 1.0850 once more.US data missed expectations, briefly weakening the US Dollar.European PMIs broadly beat, but Europe’s PPI missed. EUR/USD drove into a fresh intraday high of 1.0876 on Tuesday but flopped back to the day’s opening bids after the market readjusted following a w
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GBP/USD LOSES GROUND FOLLOWING STRONG LABOR MARKET DATA FROM THE US
The GBP/USD currently trades at 1.2615, recording mild losses.Broad-spectrum technical indicators reveal a bullish hold for larger time-frames but the short term is somewhat negative.The USD is getting traction thanks to positive labor market figures and markets pushing the Fed’s easing cycle to May
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