• The Indian Rupee weakens in Tuesday’s early Asian session.
• Month-end USD demand and higher crude oil prices weigh on the INR. 
• Traders await the US August CB’s Consumer Confidence ahead of the key events later this week. 

The Indian Rupee (INR) trades on a weaker note on Tuesday. The US Dollar (USD) demand from local banks and corporates during the month-end, and a surge in crude oil prices are likely to cap the local currency’s gains. On the other hand, the upside of the pair might be limited due to the dovish remarks from US Federal Reserve (Fed) Chair Jerome Powell at the Jackson Hole Symposium, which have triggered the possibility of a deeper rate cut in the September meeting. 

Investors will keep an eye on the US Conference Board’s Consumer Confidence for August on Tuesday. The advanced US Gross Domestic Product (GDP) Annualized for the second quarter (Q2) and Personal Consumption Expenditures (PCE) Price Index data will be closely watched this week. On the Indian docket, the GDP Quarterly for Q1 will be published on Friday.