Ella 
The U.S. dollar weakened on Thursday as the Indian rupee pared recent losses. The Indian Center for Economic and Business Research released a report on Wednesday saying that India will become the world’s third largest economy in 2032 and will surpass China and the United States in 2100 to become “the world’s largest economic superpower.” Earlier this week, Fitch Ratings expected India to be the fastest growing economy in the world, with GDP growth reaching 6.5% in the fiscal year 2024-2025.
Nonetheless, India’s next general election will still be closely watched by investors, as the results will have a major impact on India’s domestic and foreign policies. Later on Thursday, market participants will focus on last week’s U.S. jobless claims data, the November trade balance and existing home sales. The data may not have a major impact on the market as traders enter holiday mode as we approach 2024.
