Quote on Rupee : The rupee displayed relatively subdued movement, maintaining a tight range and ending the trading session from Jateen Trivedi, LKP Securities
Below the enclosed quote on Rupee from Jateen Trivedi, VP Research Analyst at LKP Securities.
"The rupee displayed relatively subdued movement, maintaining a tight range and ending the trading session with a marginal gain of 0.02rs at 82.63 against the dollar. After the Jackson Hole Symposium, the dollar index exhibited volatility within a narrow range, as Powell highlighted the continuation of a data-specific approach towards interest rate adjustments.
The upcoming week holds a flurry of important economic data, including US GDP and Non-Farm Payrolls (NFP) unemployment data, which are likely to contribute to heightened volatility in the market. Traders will closely monitor these data releases for potential market-moving insights.
In the Indian context, positive participation in the capital markets by FPI's and FII's is contributing to the rupee's stability. As such, the rupee's trading range is anticipated to fluctuate between 82.45 and 82.95, with various factors influencing its trajectory, including global data releases and the health of India's financial markets."
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