The Indian rupee gained slightly ahead of Powell's speech at the Jackson Hole symposium. It hit a low of 83.89 yesterday and is currently trading at 83.896.
The policy divergence between the US Fed and RBI puts pressure on the US dollar at higher levels.
RBI minutes-
RBI's minutes show that most of its members voted to keep policy rates unchanged at 6.50%. RBI Governor stated that the increase in food inflation is a factor of concern.
PMI data (India)
The preliminary HSBC India PMI declined to 57.9 in August from 58.1 in July. Services PMI surged to 60.4 in August before 60.3.
US dollar index-
The US dollar index trades flat ahead of the Jackson Hole symposium. It hit a low of 100.92 and is currently trading around 101.34.
According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Sep increased to 73.5% from 62% a week ago.
Technicals-
Major resistance- 84.25
Near-term resistance - 84
Minor support- 83.60, 83.25
Trend reversal level- 83


US Gas Market Poised for Supercycle: Bernstein Analysts
Energy Sector Outlook 2025: AI's Role and Market Dynamics
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
Geopolitical Shocks That Could Reshape Financial Markets in 2025
Stock Futures Dip as Investors Await Key Payrolls Data
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
Wall Street Analysts Weigh in on Latest NFP Data
Moldova Criticizes Russia Amid Transdniestria Energy Crisis
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift?
Global Markets React to Strong U.S. Jobs Data and Rising Yields 



