USD/INR Gains Momentum as Key US Data Awaited
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#e07cbe84 ver:0.53

The Indian Rupee (INR) gains momentum 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 speeches by Fed officials will further influence the USD/INR pair. The INR's resilience is supported by India's positive economic outlook, but rate cut expectations from the Fed 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 the inclusion of Indian bonds in the JPMorgan index could support the INR, but a decline in Asian currencies and rising oil prices may weigh on the INR. Key US economic data will also impact the pair. The INR is supported by expectations of foreign inflows, but month-end dollar demand and oil price fluctuations may restrain its upside. The INR strengthens as the USD softens, with the inclusion of Indian bonds in the JPMorgan index expected to trigger inflows. The US PCE Price Index and upcoming manufacturing data will influence the pair. The INR strengthens on the softer USD, with foreign inflows and low PCE Price Index acting as headwinds against the pair. Focus is on India's manufacturing data and US ISM Manufacturing. The USD/INR pair gains 0.1% as the INR is boosted by foreign inflows and the USD is weighed down by low PCE Price Index. Manufacturing data and high-impact US economic releases will influence the pair. The momentum is currently in favor of the bulls. #USD #INR #forex #economy...

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