Anna 
On Thursday, the Indian Rupee (INR) exhibits strength against the US Dollar (USD) amidst a decline in the latter. Manufacturing activity in India shows signs of improvement in March, as indicated by the HSBC Manufacturing Purchasing Managers’ Index (PMI), which rose to 59.2 from the previous reading of 56.9. Although the Services PMI moderated slightly to 60.3 from 60.6 in the previous reading, the INR maintains its robustness following the mixed PMI data.
Additionally, dovish remarks from Fed Chair Jerome Powell during the press conference contribute to selling pressure on the Greenback, posing a challenge for the USD/INR pair.
Looking ahead, market participants will closely monitor the release of the preliminary S&P Global PMI for March, along with weekly Initial Jobless Claims and Existing Home Sales data, scheduled later on Thursday.
