- USD ended marginally lower despite gaining in the later part of the week largely on the expectation that the Federal Reserve will slow the pace of rate hikes from the February meeting.
- Data showed that the US economy grew faster than expected in the final three months of 2022. US Q4 GDP rose 2.9% annualized, and slightly from 3.2% growth in the third quarter.
- The core PCE, the Federal Reserve’s preferred measure of inflation, cools to 4.4% year on year last month, down from 4.7% in November.
- The data supports the view that the Federal Reserve will slow the pace at which it raises interest rates. The US central bank is expected to raise rates by 25 basis points.
- INR continues to show resilience even as the Nifty 50 and the Sensex continue slumping in the wake of worries of Indian banks exposure to highly leveraged Adani group
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