• Spot rupee ended at 95.82/83 to a dollar level after opening at 95.90/91 level. The rupee steadily appreciated today as crude oil prices eased on renewed hopes of US-Iran negotiations. Market also suspects USD selling by the RBI to contain volatility. Equity market benchmarks have closed HIGHER. Nifty 50 was up 0.3 while BSE Sensex was up about 0.4 today.
• The DXY traded around 101.07 level, off its two-month highs, supported by strong US economic data, elevated oil prices and expectations of further Fed tightening. UK GfK consumer confidence improved to -13 in September from -14, beating expectations of -16 and reaching its highest level since August 2024. However, confidence remains negative, with rising energy costs posing a risk to household sentiment.
• The yen remained weak near 158.15 per dollar, pressured by a stronger dollar and higher US yields. Markets continue to view the BOJ as relatively cautious despite recent rate increases. Comments from Japan Finance Minister Katayama on intervention possibility, will cap the USDJPY pair.
• In Germany, consumer confidence fell sharply to -30.6, the weakest since May, as concerns over energy costs hit income expectations. However, EURUSD is trading a tad higher at 1.1392 levels.
• Key data releases from the US tonight include Durable goods orders and Univ. of Michigan Consumer Sentiment survey.
• Key data releases ahead: US: Durable goods orders m/m; Core Durable goods orders m/m; Revised UoM Consumer sentiment; Inflation expectations;

Rupee opened at 95.90 levels against yesterday’s closing of 95.96. 97. Equity market benchmarks are trading flat.

The US dollar remained firm today with the Dollar Index trading around 101.27, supported by resilient US economic data and hawkish Federal Reserve expectations. US 10 Year benchmark yield is trading at 5.19 as traders’ factor in multiple rate hikes.