The Indian Rupee (INR) is trading steadily against major currencies as the market awaits the preliminary HSBC Purchasing Managers’ Index (PMI) data for November, scheduled for release at 05:00 GMT (10:30 IST). This economic indicator is crucial for assessing the health of the manufacturing sector, which can significantly influence trading strategies involving the USD/INR currency pair.
Market participants remain cautious ahead of the PMI announcement, as it may impact the INR's exchange rate against the US Dollar (USD). A stronger-than-expected PMI could boost investor confidence, potentially leading to an appreciation of the INR. Conversely, weaker data might heighten concerns over economic growth, prompting a decline in the currency's value. Overall, traders are closely monitoring these developments as they navigate the foreign exchange market.
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Data Source: FX Killer Analysis Team Updated: 2025-11-21 04:22
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.