USD/INR DRIFTS HIGHER AHEAD OF INDIAN GDP, US PCE DATA

avatar
· Views 90


  • Indian Rupee trades softer on the rising month-end demand of USD. 
  • India’s GDP for October-December 2023 is expected to slow to 6.5% from 7.6% in the previous quarter.
  • The US January Core PCE and Indian GDP growth numbers will be the highlights on Thursday. 

Indian Rupee (INR) trades in negative territory on Thursday amid increased month-end demand for the US Dollar (USD). Some traders speculate that the Reserve Bank of India (RBI) might be actively acquiring Dollars in recent sessions, which might limit the pair in a tight range. However, robust economic fundamentals, the pullback in oil prices, and moderation in domestic inflation might provide some support to the INR. 

The Statistics Ministry will release India’s GDP data for October-December 2023 on Thursday, which is estimated to slow down to 6.5% from 7.6% in the previous quarter. If the report shows a stronger-than-estimated outcome, this could boost the Indian Rupee and weigh on the USD/INR pair. 

The US Core Personal Consumption Expenditures Index (Core PCE) for January, the Fed's preferred inflation measure, will be in the spotlight on Thursday. Additionally, US Personal Income, Personal Spending, Pending Home Sales, and the weekly Initial Jobless Claims are also due later in the day. On the Indian docket, the GDP quarterly for Q3 and GDP annual growth numbers on Thursday could provide fresh catalysts for the USD/INR pair. 


면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.

이 글이 마음에 드시나요? 작성자에게 팁을 보내 감사의 마음을 전하세요.
댓글 0

더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.

  • tradingContest