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Rupee Could Extend Gains For Fourth Session

INDIA

It is a busy session today; participants will digest GDP data and a speech from RBI Governor Das today. Das will speak at the annual FIMMDA-PDAI conference later today, he said last week that the RBI is in no hurry to adjust policy settings and will telegraph any changes to markets well in advance, emphasizing that the recovery has some way to go. Meanwhile fiscal deficit data is on the docket and Q2 GDP figures will be published at 1300BST/1730IST. GDP is expected to have grown 21% Y/Y. Indian states will sell bonds today.

  • The rupee extended its gains to a third session yesterday, playing catch up with a move lower in the greenback after Powell's Jackson Hole appearance. The rupee could advance again today as the greenback struggles for direction and DXY prints worst levels in two weeks as it tests its 50-DMA,
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