US Stock Futures Dip After Wall Street Rally 
Bessent Presses Japan on Fiscal Policy as Yen Struggles 
Asian Currencies Mixed as Dollar Hits Seven-Week High After Fed Hike 
Asian Chip Stocks Rally as Treasury Yields Ease 
Supertanker Orders Surge as US-Iran War Reshapes Oil Trade 
South Korea Producer Prices Rise 0.2% in August 
Yen Sinks as BOJ Rate Hike Fails to Impress Markets 
Venezuela Nears Deal to Move $4 Billion in Gold to New York Fed 
Mexico Pushes for US Trade Deal Before Midterms 
Add as a preferred source on Google
The USDINR currency pair is expected to consolidate between a range of 65-66 over the near-term, according to reports from Commerzbank. There was some good news for the Modi government after the latest inflation figures showed signs of moderation and industrial production surprised on the upside.
September headline inflation rose 3.3 percent y/y (consensus: 3.5 percent) and at the same pace as August. Headline inflation in the first six months of the current fiscal year (April-September) stood thus at 2.6 percent and just below RBI’s projection of 2.8 percent. RBI is forecasting a firmer reading to 4 percent in the 2nd half of the fiscal year.
"As such, a continued pick up in coming months should not be a major surprise but merely in line with RBI expectations. The GST impact on inflation will remain one factor to watch. Against this background, we still expect RBI to leave rates on hold for the foreseeable future," the report said.
Meanwhile, FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
