• Indian Rupee steadies in Thursday’s Asian session. 
• A rally in the Chinese Yuan and USD sales from local importers might boost the INR. 
• Investors will monitor the final US Q2 GDP Annualized data and Fedspeak on Thursday.

The Indian Rupee (INR) trades flat on Thursday. The sales of the US Dollar (USD) from local corporations, foreign inflows in Indian stocks and bonds, and the stronger Chinese Yuan might underpin the local currency. However, the rise in crude oil prices or risk-averse environment could weigh on the INR and help limit the pair’s losses. 

Traders will take more cues from the speeches of the US Federal Reserve (Fed) officials on Thursday, including Chair Jerome Powell. Any hints of another 50 basis points rate reduction by the Fed in November could undermine the USD against the INR. The final US Gross Domestic Product (GDP) Annualized for the second quarter (Q2) will be published later on the same day. On Friday, the Personal Consumption Expenditures Price Index (PCE) will be in the spotlight.