USD/INR Price News: Rupee stays depressed ahead of India Fiscal Deficit, US Core PCE Inflation – by anilpanchal7 USDINR Inflation FiscalPolicy RiskAversion Banks
Cautious mood ahead of the key data keeps Indian Rupee directionless.Fresh tensions surrounding China, First Republican Bank prod USD/INR sellers above 200-DMA.
The USD/INR pair bounced off the lowest levels in two weeks the previous day after the US Dollar managed to cheer mostly upbeat inflation signals in the headline growth numbers. On Thursday, the first readings of the US for the first quarter of 2023, also known as Advance readings, marked mixed outcomes. That said, the headline US GDP Annualized eased to 1.1% from 2.0% expected and 2.6% prior but the GDP Price Index inched higher to 4.0% on an annualized basis from 3.9% prior and 3.
Alternatively, US banking fallout fears weighed on the sentiment amid reports that the First Republic Bank plans to sell half its loan book to fill a $100B deposit flight gap.
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