USD/INR WEAKENS ON IMPROVED RISK APPETITE... Wulan Viana から-フォローミートレーディングコミュニティ

27 Sep 2024, 16:06 · Views 190

Indian Rupee gathers strength in Wednesday’s Asian session.
Improved risk appetite and a weakening USD support the INR.
Investors await the US August New Home Sales and Fed’s Kugler speech on Wednesday.

The Indian Rupee (INR) edges higher on Wednesday. Improved risk appetite following China’s stimulus measures and the softer US Dollar (USD) boost the local currency on the day. Nonetheless, rising crude oil prices, outflows related to a rejig of the FTSE equity indexes and renewed USD demand from large Indian importers might exert some selling pressure on the INR.

The US New Home Sales data for August is due on Wednesday. Traders will take more cues from the US Federal Reserve’s (Fed) Governor Adriana Kugler speech. Any dovish remarks from the Fed officials are likely to weigh on the Greenback against the Indian Rupee. The highlight for this week will be the US August Personal Consumption Expenditures (PCE) Price Index data, which will be published on Friday.

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