INR 83.49-0.02
EUR 1.0827
POUND 1.2598
JPY 156.43
CHF 0.9058
AUD 0.6648
CNY 7.2250
Gold 2358.82
Silver 28.568
BRENT CRUDE 83.04
DOLLEX 104.9371
3M USD SOFR 5.3267
6M USD SOFR 5.29355
1Y USD SOFR 5.15822
Range for the day: 83.40 – 83.60
Rupee open a little changed owing to a relatively weaker dollar ahead of US inflation data release due later today. The US PPI and Core PPI monthly figures released yesterday, exceeded expectations of 0.3% and 0.2%, both resulting at 0.5%. However, in yesterday’s speech at Amsterdam, Fed Chairman Powell described the PPI report as “mixed”, keeping the dollar under pressure. Though election jitters loom amongst traders, the positivity across Wall Street is expected to keep the Indian equities supportive and hence, shall aid rupee. However wildfire threatens Canada’s oil sands, adding pressure on the weak supply chain of oil and rising it’s prices which shall constrain rupee’s appreciation. The release of US CPI later in the day holds the spotlight amongst markets.