OVERVIEW
- The Dollar index is slower for the third session after PCE missed estimates.
- Strong Canadian GDP surprises markets.
- WTI down 50 cents as geopolitical tensions ease.
HIGHLIGHT
The USD/INR is in consolidation mode ahead of central banks’ monetary policy announcements. The pair touched an all-time high of 69.13 on July 20th. RBI is expected to raise the benchmark repo rate by 25 bps to 6.5% tomorrow to rein in inflation.