Daily Digest Market Movers: Indian Rupee remains weak amid foreign fund outflows
- India’s trade deficit stood at $20.78 billion in September from $29.65 billion in August, according to data released by the commerce ministry on Wednesday.
- India’s Exports rose marginally to 34.58 billion in September from 34.41 in the year-ago period. Meanwhile, Imports declined to 55.36 billion in September versus 64.36 billion prior.
- Foreign funds withdrew more than $7 billion from Indian equities in the month through October 14, the largest in over four years, according to Bloomberg.
- The US Retail Sales is estimated to rise to 0.3% in September from 0.1% in the previous reading.
- According to the CME FedWatch tool, traders have priced in a nearly 94% chance of a 25 basis points (bps) Fed rate cut in November.
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