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November 14, 2024 New Delhi, India USDINR Analysis Rupee (INR) is trading near its all-time low on Thursday despite an uptick in Wholesale Price Index (WPI) inflation. According to official data, India’s WPI-based inflation rose to 2.36% year-on-year (YoY) in October, up from 1.84% in the previous month, surpassing the market consensus of 2.20%. Factors…
November 11, 2024 New Delhi, India USDINR Analysis On Friday, the Indian Rupee (INR) lost momentum against the US Dollar (USD), driven by increased demand from importers related to month-end payments. Additionally, the unwinding of long positions in the currency market contributed to the INR’s softer stance. Despite this downturn, factors such as a decline…
October 16, 2024 New Delhi, India UK CPI Inflation Data The United Kingdom’s annual Consumer Price Index (CPI) inflation slowed to 1.7% in September, down from 2.2% in August, according to the Office for National Statistics (ONS). This figure came in below market expectations of 1.9%, falling back under the Bank of England’s (BoE) 2.0%…
October 16, 2024 New Delhi, India USD/INR The USD/INR pair continues to hover around its all-time high of 84.14 as the Indian Rupee (INR) faces pressure from foreign exchange outflows. Traders are also evaluating the Reserve Bank of India’s (RBI) policy outlook, particularly in response to India’s latest Consumer Price Index (CPI) data. Key Factors:…
October 8, 2024 New Delhi, India Gold Prices Gold (XAU/USD) continues to struggle for momentum, trading within a familiar range as market forces remain mixed. The upbeat US jobs report last Friday reinforced a resilient labor market, prompting investors to further reduce expectations of a major interest rate cut by the Federal Reserve (Fed) in…
September 27, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) lost momentum on Friday, September 29, 2024, amid renewed demand for the US Dollar (USD) from importers, driven by month-end payments and the likely unwinding of long positions. Despite the dip, a fall in crude oil prices and a strong trend in Indian…
September 18, 2024 New Delhi, India RBI Interest Rates Decision The Reserve Bank of India (RBI) is unlikely to lower its benchmark policy rate in 2024 due to persistent uncertainties over food inflation, according to State Bank of India (SBI) Chairman C S Setty. Despite the anticipated rate cut by the U.S. Federal Reserve, Setty…
September 13, 2024 New Delhi, India India’s Retail Inflation Retail inflation in India edged up to 3.65% in August 2024, according to data released by the National Statistical Office (NSO) on Thursday. Despite the slight increase, inflation remained below the Reserve Bank of India’s (RBI) median target of 4% for the second consecutive month. Key…
August 12, 2024 New Delhi, India CPI Data In a significant development for India’s economy, the Consumer Price Index (CPI) inflation rate fell to 3.54% in July 2024, the lowest since August 2019, according to data released on August 12, 2024. The decline in retail inflation brings it well within the Reserve Bank of India’s…
August 8, 2024 New Delhi, India RBI Monetary Policy In its latest monetary policy announcement, the Reserve Bank of India (RBI) has kept its inflation projection for FY2025 unchanged at 4.5%. RBI Governor Shaktikanta Das provided insights into the factors influencing this forecast and the broader economic conditions. The Indian rupee showed a slight recovery…
