USD/INR Strengthens as India's PMI Data Awaited
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#e07cbe84 ver:0.52

The Indian Rupee (INR) strengthens as the US Dollar (USD) weakens, but cautious Fed officials and rebounding oil prices may limit the INR's upside. The Reserve Bank of India (RBI) may intervene to support the INR. US Retail Sales data and Fed officials' speeches could further boost the USD. The INR's resilience is supported by India's positive economic outlook, but rate cut expectations and foreign investor selling have weakened the INR. The formation of India's new government and upcoming CPI data will be closely watched. The USD/INR pair is range-bound until high-impact data is released. Inflows from Indian bond inclusion and declining Asian currencies could support the INR, but rising oil prices may weigh on it. The INR is restrained by month-end dollar demand and fluctuations in oil prices. The inclusion of Indian bonds in the JPMorgan index and S&P's growth forecast support the INR. The INR strengthens on the softer USD and expected foreign inflows. The US PCE Price Index and India's HSBC Manufacturing PMI data impact the pair....

#newstr #Usd/inr #IndianRupee #UsDollar #India #PmiData #UsPersonalConsumptionExpendituresPriceIndex #HsbcManufacturingPmi #IsmManufacturing 

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