� The USD ended the week higher, driven by stronger-than-expected GDP growth in the final quarter of the year.
� The US economy recorded a growth of 3.3% in Q4 on an annualized basis, down from 4.9% in the previous quarter but well ahead of the 2% growth that economists had forecast. The upbeat growth came thanks to robust consumer spending.
� The U.S. core personal consumption expenditures (PCE) price index recorded its lowest annual gain since April 2021. The core PCE, which strips out volatile food and energy prices, rose by a modest 0.2% in October and has seen an annual increase of 3.5%.
� The comprehensive PCE index, which includes food and gas, remained unchanged from September to October but showed an annual climb of 3%. The report also noted a considerable slowdown in consumer spending in October, with expenditures increasing by just 0.2%, a stark contrast to September's more robust growth of 0.7%.
� INR remained steady after India�s business activity grew at the fastest pace in four months in January on the backdrop of stronger demand.
� India�s flash composite PMI rose to 61 in January, its highest level since September, and up from December�s reading of 58.5.
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The manufacturing PMI rose to 56.9 in
January, up from 54.9 in December, and the dominant service industry also saw
stronger growth, with the PMI rising to 61.2, up from 59 in December.
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