Commodities
Indian Rupee Stabilized by RBI Intervention and Lower Oil Prices
The Indian Rupee has remained relatively stable against the US Dollar, trading near 96.00, thanks in part to consistent intervention by the Reserve Bank of India (RBI) and lower oil prices.
Oil prices have dropped due to increased flows from Saudi Arabia, which earlier surged due to concerns over pipeline disruptions. However, experts warn that there may be upside risks beyond 2026, citing dashed hopes for near-term US-Iran diplomacy and skepticism about the Strait of Hormuz reopening soon.
The US PCE inflation data for August is expected to show steady core inflation at 3.3% YoY, with monthly figures growing faster than the previous reading. This data will likely influence the Federal Reserve's interest rate expectations.