Ella 
The Indian rupee (INR) was trading weak on Tuesday. Heightened demand for U.S. dollars from local banks and corporates at the end of the month and a surge in crude oil prices may limit gains in the Indian rupee. On the other hand, USD/INR upside may be limited as dovish comments from Fed Chairman Jerome Powell at the Jackson Hole symposium raised the prospect of further rate cuts at the September meeting.
Investors will be keeping a close eye on Tuesday’s release of the Conference Board’s August consumer confidence index. This week, we will pay close attention to the annual rate of U.S. second-quarter gross domestic product (GDP) and personal consumption expenditures (PCE) price index data. In India, the first quarter gross domestic product quarterly report will be released on Friday.
