Jaiinfoway Market Overview USD Strengthens Against CHF and JPY Amid Economic Data; INR Weakens with Focus on Upcoming US Retail Sales
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MARKET OVERVIEW: USD STRENGTHENS AGAINST CHF AND JPY AMID ECONOMIC DATA; INR WEAKENS WITH FOCUS ON UPCOMING US RETAIL SALES EUR/JPY Under Pressure as ECB Rate Cut Looms and Geopolitical Tensions Boost Yen The EUR/JPY pair faces renewed selling pressure during the Asian session on Thursday, as bears eye a sustained break below the 162.00 level to confirm further downside. The Euro remains under pressure expectations that the European Central Bank (ECB) will cut its deposit rate by 25 basis points later today, marking the first consecutive rate cut in 13 years. due to growing The move reflects the ECB's need to accelerate monetary declining inflation economic weakness. geopolitical tensions in the Middle East drive safe-haven Japanese Yen, further weighing on EUR/JPY. easing and amid signs Meanwhile, of demand for the
INR Weakens Amid Foreign Fund Outflows, But Crude Price Drop and RBI Interventions Provide Support The Indian Rupee (INR) trades with mild losses against the US Dollar (USD) on Thursday, pressured by foreign fund outflows and USD demand from banks and importers. However, falling crude oil prices, due to easing supply concerns in the Middle East, offer some support to the INR. The Reserve Bank of India's (RBI) forex interventions also help limit the downside. Traders are now focused on upcoming US Retail Sales data, Initial Jobless Claims, and other key economic indicators. USD/CHF Extends Gains Above 0.8650 as Strong US Data and Rising Treasury Yields Bolster US Dollar The USD/CHF pair continues to appreciate, trading above 0.8650 during Thursday's Asian session as it extends its two-day winning streak. The US Dollar (USD) is bolstered by strong labor and inflation data, which has reduced the likelihood of aggressive monetary easing by the Federal Reserve (Fed). Market participants expect a 25-basis-point rate cut in November, with little chance of a larger 50-basis-point cut. The US Dollar Index (DXY) holds steady near two-month highs around 103.60, supported by rising US Treasury yields, further strengthening the USD against the Swiss Franc (CHF) ahead of Swiss trade balance data. Read more about us- Website- www.jaiinfoway.com Contact Number- +1 (786) 786-7229 Linkedin- Jaiinfoway Email- info@jaiinfoway.com
