Daily Digest Market Movers: Indian Rupee looks fragile despite dovish Fed
- The International Monetary Fund (IMF) projected that India’s real GDP growth will touch 7% in 2024 to remain the fastest-growing major economy in the world.
- According to a Reuters poll, India's economic growth in the April-June quarter was anticipated to expand at its slowest pace in a year owing to lower government spending.
- The Conference Board's US Consumer Confidence Index rose to 103.3 in August from an upwardly revised 101.9 in July, marking a six-month high.
- The US House Price Index dropped by 0.1% MoM in June, better than the estimation of a 0.2% increase, the Federal Housing Finance Agency showed onTuesday.
- Futures are currently pricing in a near 34.5% chance of a half-percentage point cut in interest rates, according to the CME FedWatch Tool.
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